First things First! Decide Whether To Build A New Home Or Buy Existing
Buying a new construction home can be very different than buying an existing home in an established neighborhood.
So, what questions and considerations you should make when deciding whether to buy a new construction home?
- Do you want full customization of the home you purchase?
- Does resale value matter to you?
- Do you have time to wait for the build time?
- Do you want to live in a developed or new neighborhood?
Make Sure to Hire a Real Estate Agent with New Construction Experience
There are many reasons to have an experienced real estate agent when buying new construction than not having an agent.
Understand The Process
Take a Look at your Local Home Builders
Choosing the home builder is a very important step! Probably the most important or essential step in the new construction home buying process. There are plenty of home builders to choose from but you want to make sure you choose the right one for you. It’s important for buyers to understand how to choose a home builder so they can avoid making a very costly mistake.
Another noteworthy tip to consider when choosing a home builder is to talk with homeowners whose home has been built by the potential builder. It’s a great way to find out what these homeowners love about their new home and also what they wish was different.
Negotiate The Best Price, Terms, & Features
Once a buyer determines where and who will build their new home, it’s now time to negotiate the details of the build. It’s not as simple as determining the offer price, closing date, inspections, and personal property that’ll be included in the sale, there are many more steps involved when you are building and designing a custom new home.
When negotiating the purchase of a new construction home, a buyer decides what specifications they want in their home, what upgrades they want or do not want, what additional square footage they want added, along with many other things.
Home builders will have pricing in place for specific upgrades, such as adding solid surface counter tops in the bathrooms. While some builders will indicate that the prices are set prices, in most cases, there is room for negotiations on these prices. Other things that new construction home buyers should consider negotiating include appliance budgets, window covering budgets, and landscaping budgets.
Perform A Home Inspection
New construction home buyers need to realize that having a home inspection is still highly recommended, working with a qualified real estate agent will help to ensure you get this done!