Buying New Construction

Buying a New Construction Home

When buying a new construction home, you may think it’s all smooth sailing. With all new features and a new foundation, you may assume you have nothing to worry about; but that’s exactly the reason why so many new construction homeowners encounter problems early on in their home ownership.

This article will provide valuable tips that will ensure you don’t hit any bumps in the road with your new construction home.

Get Everything in Writing

When buying a new construction home, you may be buying something that doesn’t exist yet. For instance, the home may not be built, or it may be incomplete. That’s why it’s so important to get everything in writing.

The contracts and documents you receive should include everything from a completion date to the details of what you can expect when your house is completed regarding appliances, features and so one. The colors used, the upgrades and amenities and even the costs can change during the construction process. Make sure to get everything in writing so you don’t end up with any surprises.

Get a Home Inspection

Because everything in the home is new, some buyers think they do not need a home inspection.

During a home inspection, an inspector can find things the builder has forgotten to do as well as potential problems that can be caused down the road. The inspector will make you aware of those problems so you can get the necessary repairs or use them as leverage in the bargaining process.

Know What’s Included in the Home Warranty

The coverage provided in a home warranty will vary and the different contractors may include varying services and repairs. Whatever the situation may be, it’s important to talk to the contractors you’re working with in advance to make sure your warranty is comprehensive.

Research the Builders

It’s advisable to research builders before even starting the search for your new construction home. Get familiar with who’s out there and the quality of service they provide. Then try to limit your search to reputable builders only.

Team Up with a Realtor

Many home buyers try to get around hiring a realtor because they think this will save them money. However, a realtor will be worth more than his weight in gold. What’s more, often times the builder will pay the agent’s fee.

The realtor will familiarize you with the new construction home buying process and help you negotiate deals that can save you money in the long run.

Shop for Lenders Early On

It’s important for buyers to talk to lenders early on in the home buying process. This will give you an idea of what’s out there in terms of mortgages and interest rates and it will help them find the lender that’s right for them.

A lender can also preapprove you for a loan so both builders and buyers can be sure they are not wasting their time on a sale that might fall through.

Buying a new construction home is a smart move to make. But even in this process, buyers can encounter unexpected circumstances. These tips will ensure that your buying experience goes as smoothly as possible.