Tips to Buy A New Construction Home
As a first time home buyer, you might be feeling overwhelmed when it comes to purchasing that new home. That’s normal! It can be intimidating if you’ve never purchased a home before. We’re here to help guide you through the process of buying your new construction property. Here are some tips for buying a new construction home:
Research, research, research!
Don’t just rely on what the builder is telling you. Do your own research to determine if the builder is reputable and if their homes are of good quality. Check online reviews, talk to people who have purchased from that builder, and determine which amenities are important to you.
You should know what to expect in the long run because of your research.
Know what's included, and what's not
With a new construction property, many items will be included in the purchase price of the home, while others will come with an additional cost attached to them.
Some common items that are included in a new construction home: roofing, siding, flooring, appliances, and landscaping.
Items typically not included in the purchase price of a new construction property: floor coverings, paint inside/outside of the house, landscape designs around the exterior of the home. Even if you know what is included in the package you should definitely ask the builder before buying a construction home.
Get a good Home inspector
Just like with any other property, it’s important to get a home inspector to check out the property before purchasing. However, with a new construction home, you’ll want someone who is specifically familiar with new construction homes. It is important to talk with that home inspector so you know all the aspects beforehand. It is never a good idea to leave anything on a builder because you should yourself go for all the facts.
Be aware of your Rights
As a buyer, you have certain rights that are protected by law. Be sure to familiarize yourself with these rights before purchasing your home. You may be wondering why you need awareness about your rights. You should understand that things can go south pretty early. In such a scenario if you are a person who is very nice about his rights, you can go to law.
Understand the Builder's warranty
Most builders offer a warranty on their homes. This warranty typically covers major components of the home, such as the roof, windows, and appliances. It’s important to understand what is and isn’t covered under this warranty.
Sometimes when we are buying a house and we are in the initial process, we get overwhelmed. This overwhelming comes in between making judicious decisions. If the builder is offering a warranty, you should definitely look into it.
Get a good Real Estate agent
Not all real estate agents are created equal. Be sure to find an agent who is knowledgeable about the new construction market and can help you navigate through the process.
You should also understand that most real estate agents are after the commission. In such a scenario you need to find somebody who is genuinely interested in you and your home buying process.
Understand your financing options
There are many different types of financing options available to you when purchasing a new construction property. Be sure to understand which avenue will work best for you before purchasing.
It is always a good idea not to break a bank when you are planning to buy a new construction house. To make sure that you have the right option with you you have to consider your financing options.
Contact your Utility Companies
It’s important to contact your utility companies and have them come out and mark the location of gas, electric, water and sewer lines on your new lot. This way, if anything were to happen, you know the location of your lines and can avoid any digging. This is particularly important if you’re working on a lot with other homes.
Don't rush into an offer
Remember, timing is everything when it comes to purchasing a new construction property. If the first contract ends up not going through, don’t be too discouraged. There are many other homes out there that will fit your needs. Sometimes if you are not rushing into an offer, It can be for your own good.
Enjoy the Process
Purchasing a new construction home can be a fun and exciting process. Be sure to take your time and enjoy the journey of finding your perfect home.
Have realistic expectations
Just because you’re purchasing a new construction home doesn’t mean that everything will be perfect. Be prepared for some minor issues that may arise during the construction of your home.
Stay in communication with your builder
Be sure to keep the lines of communication open with your builder. This way, you can make any changes as needed and avoid any surprises down the road.
Take Advantage of incentives
Most builders will offer some sort of incentive or price breaks on their homes if they’re selling a large number in a short period of time. Be sure to ask about these incentives and see if you can take advantage of them.
Getting a new home is always overwhelming but buying a new one is definitely not. Sometimes we are so excited that we do not look into a lot of details while purchasing a new construction home. This should not be your priority.
You should always remember that you should look into a lot of things before going for a solid purchase. We hope that our above-mentioned tips will do something for you.
All these tips are going to help you make constructive decisions. You should remember that your decision will impact your future so make sure you make wise decisions. By following these wonderful tips you are going to be amazing in your new construction home because definitely, you are going to seal the deal.