What to look for when buying a new construction home.
Buying a new construction home can be an exciting and rewarding experience. You get to choose the floor plan, the finishes, the appliances, and even the landscaping of your dream home. You also get to enjoy the benefits of a brand-new home that meets the latest standards of quality, safety, and energy efficiency.
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But buying a new construction home also comes with some challenges and risks that you should be aware of before you sign a contract. Here are some things to look for when buying a new construction home:
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Research the builder and the neighborhood. Before you commit to a new construction home, you should do some homework on the builder and the neighborhood. Check online reviews, ratings, and complaints about the builder’s reputation, customer service, and quality of work. Ask for references from previous buyers and visit some of their completed homes. You should also research the neighborhood and its amenities, schools, safety, and future development plans. You don’t want to end up in a place that doesn’t suit your lifestyle or expectations.
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Understand what’s included and what’s not. When you tour a model home or look at a floor plan, you may be impressed by the features and finishes that you see. But don’t assume that everything you see is included in the base price of the home. Often, model homes have upgrades and extras that cost more than the standard features. Ask for a detailed list of what’s included and what’s not in your new construction home, and how much each upgrade or option costs. You should also ask about the warranty coverage and service agreement for your home and its components.
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Hire your own agent and inspector. Even though new construction homes are sold by builders or their agents, you should still hire your own agent to represent your interests and negotiate on your behalf. Your agent can help you find the best deal, protect your rights, and guide you through the process. You should also hire your own inspector to inspect your new construction home at different stages of construction and before closing. Your inspector can spot any defects, errors, or code violations that may affect the quality and safety of your home.
Be flexible and patient. Buying a new construction home can take longer than buying an existing home. Depending on the stage of construction, it may take several months or even a year before your home is ready to move in. During this time, you may encounter delays, changes, or surprises that are beyond your control. For example, the builder may run out of materials, face labor shortages, encounter weather issues, or have to comply with new regulations. You should be prepared to be flexible and patient with the timeline and budget of your new construction home project.
Buying a new construction home can be a great way to get the home of your dreams. But it also requires careful research, planning, and communication with your builder, agent, inspector, and lender. By following these tips, you can make sure that you get what you want and avoid any pitfalls along the way.