For those who don’t know, a new construction home is one that was never owned or occupied previously. Usually, the sellers of these new construction houses are those who build them.
Buying a new construction home is a lot different than buying one that already exists in a particular neighborhood. And if you’re one of those people who prefers the former, then there are specific tips that you need to be wary of before you buy one for yourself.
So without further ado, here’s what you need to know about buying a new construction home for yourself:
1. Decide Whether You Want a New Construction Home
There’s a sense of satisfaction in owning something wholly fresh and untouched. However, before you decide to opt for one, you have to think about your overall situation and see whether a new construction home fits your budget and your lifestyle.
To be sure you’re making the right choice, ask yourself the following questions:
- Are you going to place a new lawn and possibly wait 20 years before your sapling trees can mature?
- Will you mind the commute to your new home, especially if it’s far away from the city?
- Some new construction homes are built on top of another. Will you mind the proximity of your neighbors and the possible lack of privacy?
2. Research Potential Builders and Locations
People usually opt for a new construction home in two separate ways: they either have a location in mind and look for a builder in that area, or they have considered a builder and want to go to the place where they’re making a new home. Whichever way you go, you need to be sure that you get both of these factors cleared up before buying a house for yourself.
The first thing you’ll have to do is to get in touch with the real estate agent. These experts aren’t exactly essential for buying a new construction house, but they’re virtually warranted all the time. Besides vying for your interests across the purchasing process, realtors can guide you to both locations and builders that fit your requirements. See this page for more information.
The last thing you would want is to be unhappy. You don’t want to settle somewhere that seems unlikable and out of place, even if that’s where your preferred builder operates. Similarly, it’s not suitable to work with a builder who has no proven track record of providing quality service and satisfied clients.
We suggest getting in touch with a real estate agent that has experience with new construction homes. Also, builders pay a commission to your agent to represent you and negotiate a more fair deal for you.
3. Get a Good Deal
One way you can get a good deal out of your new construction home is to think about buying a model home. These homes are put on the market when the rest of the community is almost sold out. Sure, you won’t have that many customization options available, but the home is new and upgraded with some of the most delicate features and amenities.
You can also get good deals on an inventory that your builder has on the market. Have your agent produce a list of new development houses in your desired area that have been on the market for at least 45 days.
The last thing to consider is the time of the year. This means that most builders that are publicly traded companies like Ballymore Homes communities must meet their goals at the end of their financial year as they face pressure from their shareholders. Because of this, the builders are more than likely to cut a good deal with you. December is an excellent time to consider buying as there aren’t that many buyers looking at houses.
4. Put it All in Writing
This is an obvious thing, but some buyers for new construction homes don’t bother putting things into writing. That’s why even if you’re thinking about installing LED lights throughout your house, you have to be sure to put it into writing.
This is where your realtor comes in handy as they ensure that everything is put in writing and is signed by all parties involved. Those buyers who don’t do this will come to regret it later when it’s time for their house’s final inspection.
5. Get a Home Inspection and Warranty
Once you’ve decided to buy a new construction home, make sure that you hire a professional to do a final home inspection to ensure everything is in order. Remember, just because your house is new doesn’t mean that it won’t have its share of defects.
Also, you have to protect yourself using warranties. Most new houses come along with a warranty from the builders like those with ballymorehomes communities. This means that if there is any major defect within the household, it must be repaired immediately. Be sure to ask the builder for a warranty for a certain period after the move-in covering just about any craftsmanship defects. You must also ensure that the warranty has good insurance coverage.