Buying new construction homes can be an excellent option for those looking for a modern design and a clean slate. But it’s important to understand what goes into the process before diving in.
First, you’ll need to choose a builder. You can do this by researching builders online and reading reviews.
Know What You Want
Buying new construction homes at Brock Built offers perks such as modern design, warranties, and lower maintenance costs. However, it’s also essential to understand the process before you buy one.
You’ll also need to think about the financing options and upgrade costs. These expenses can quickly add up, so stick to what’s essential and will add value to your home.
Working with a real estate agent with experience buying new construction homes is best. It will help you navigate the process and avoid any snags.
Get Pre-Approved for a Mortgage
The process of buying a new construction home can differ depending on the type of financing you choose. You’ll want to talk with your lender and see what options are available for you.
Newer homes may cost more than older ones, but modern energy-efficient features keep occupants safe. Choosing between old and new can be difficult, but knowing what each has to offer is essential.
Often, builders will present you with upgrade options. Negotiate with the builder to get the upgrades you want for a price that fits your budget.
Look at the Area
Unlike purchasing an existing home that has already had occupants, when buying a new construction home, you’ll be in charge of everything from start to finish. It includes selecting a builder and evaluating the area where you want to live. There are a few things to look for, including the type of neighborhood, crime rate, proximity to your favorite and necessary amenities, HOA fees, and more. You can learn more about each of these by looking at previous homes the builder has constructed, driving around neighborhoods that interest you, and possibly speaking to homeowners.
Work with a Buyer’s Agent
A top real estate agent will have connections to mortgage lenders, appraisers, home inspectors, and more. They will also have relationships with handypersons, painters, electricians, plumbers, and cleaners.
Newly built homes are designed with modern trends, offering homeowners a fresh start. However, they are typically pricier than existing homes.
Working with a real estate agent with experience purchasing new construction homes is crucial. They can help you understand the process and avoid any pitfalls. They can also negotiate with the builder, which could save you money.
Negotiate
You may have room to negotiate when you buy a new construction home. It can include the cost of upgrades and the timing of when you move in.
A buyer’s agent familiar with negotiating in this market can help you get the best deal possible. They can also give you insights into a development’s benefits, drawbacks, and amenities.
It’s important to remember that builders aren’t obligated to budge on certain things. For example, you can shop for the best rate if they offer an incentive like homeowner association fees.
Get a Home Inspection
Home inspectors are a great way to get a third-party property review. They can identify issues you might have yet to notice, such as structural problems with the home, leaky faucets, and cracks in walls. They can also check for things that you might not be able to see, like termite damage, site contamination, mold, and radon.
Getting a home inspection is essential, even when buying new construction. Your real estate agent can help you find a qualified home inspector and schedule an inspection well in advance.
Finalize the Contract
If you’re in the market for a new construction home, the process can be more complicated than purchasing a previously owned property. However, you can buy your dream home and save money with a strategy and the right team.
Work with a buyer’s agent to find a builder to meet your needs and budget. After a thorough search, you’ll choose a floor plan and design options to make your home uniquely yours. Be sure to set aside funds for any upgrades you want to add, as they can be expensive.
