11 Apr The New Construction Home Buying Process
Are you ready to learn about the new construction home buying process? It’s slightly different than buying an older home and it’s important to understand if it’s the right decision for you. You should know what questions to ask when buying a new construction home, what the process for buying a new build home is like, and if there is going to be room for negotiation in a new construction home. Take a look below to get an overview of the new construction home buying process.
You’ll need an agent with experience in new construction
The first thing you need to in the new construction home buying process is to get an agent with experience in this department. Find a great agent who isn’t affiliated with the builder and will represent your best interests. Since model homes usually have a real estate agent staffed with the builder, you’ll want to find your own agent that will work on your behalf.
You will have a chance to negotiate
When it comes to buying new construction home negotiation, you’ll be able to negotiate things like closing costs and extra charges. One of the most popular areas is negotiating new construction upgrades.
This is where you can make a difference in your total cost since builders don’t like to drop their prices otherwise. Builders are more likely to work with you on these odds and ends like closing costs and upgrades that allows everyone to end up happy in the end.
It may not come out how you expect
You’ve seen exactly what you’re getting in an older home, but with new construction, things sometimes come out differently than expected. The finish of the model home doesn’t always match the one being built for you especially if you’ve added upgrades or chosen your own fixtures.
Be open-minded that things will change depending on what you want to pay and what options you select. Your agent can help you with a list of standard features and common upgrades though.
Learn about your builder and get a guarantee
Since you’re getting something that’s being built now and hoping for the best as you start to live in this new home, you’ll want to make sure you’ve researched the builder and confirmed that they do a great job. Look for testimonials from happy and unhappy customers from the past and determine if the reviews show that they tend to do good work or have problematic homes.
You’ll want to get a guarantee that the home will be ready on time too and to work with your agent to find out what would happen if the builders don’t hold up their end of the agreement or have delays in permits or materials.
You’ll need an inspection and details of the warranty
Lastly, make sure to get a home inspection and find out about the warranty on your brand new home. New homes can have problems too and an inspection will ensure everything was built safely and up to code.
You’ll want to spend the extra money for an independent verification. Find out if you’ll have the right to walk away if you are not satisfied with the inspection results. If everything goes smoothly, find out how the warranty will work, what is covered, and for how long.
Make sure when you buy your new construction home, you remember to ask these questions and you know what areas you can negotiate on. This is an overview of what you need to know about buying a new construction home.