More than ever, people across the country are opting to work directly with a builder and buy a new construction home. It’s easy to understand why, since you have the ability to pick out the accessories you want, choose a floor plan instead of adapting to an existing one, and have a real sense of ownership. There’s something truly special about looking at a completed home and knowing that your choices are reflected in the interior and exterior design.
However, new construction has only recently become affordable to a majority of home buyers. As a result, the process is a little different from buying a pre-existing house. Keep reading to learn what to expect on the journey to your new home.
- Buying a house can be a complicated process, which is why it’s wise to hire a solid real estate agent. You want someone familiar with new construction homes, and who is not affiliated with the builder. Ultimately, their job is to help represent your interests.
- Once you’ve made a decision regarding a floor plan and accessories, don’t be afraid to negotiate. Many builders don’t like to reduce prices since it can set a precedent for future buyers expecting discounts that are the same or better. Instead, try asking for upgrades on accessories at no charge or for the builder to pay the closing costs. Your agent can research the negotiation style of the builder and determine if there are any particularly effective tactics.
- Be sure not to sign anything until all of the negotiations have finished, everyone has agreed, and the changes have been factored into the contract. For example, if you’re looking to buy a house that hasn’t been completed, you need to determine what happens when the home is finished, what happens if it isn’t completed on time, and when certain deadlines take place during the process. Verbal agreements are not legally binding, so be sure that everything is in writing before you commit to signing.
- It’s easy to fall in love when you’re walking through a pristine model home. Bear in mind that everything you see in the model may not necessarily be standard. In fact, model homes often have a mix of standard features and upgrades. It’s critical to know not just what you’re getting, but how much it will all cost. Remember that prices can change between a quote in the beginning and a final contract. Ask your agent to get you a list of all of the standard features and upgrade options along with the costs.
- We’ve discussed this in the past, but be sure to do your homework about the builder and their reputation. A reputable company will have no problem with this, and will likely expect it. Check review sites online and look for recurring complaints. Your agent should also be able to get you information regarding the company’s reputation, along with customer testimonials.
By preparing yourself and entering the process with a little bit of patience, you can enjoy every step to designing and buying a newly built home.