Buying a New Construction Home – What to Know
Though there are a lot of similarities, buying a new construction home isn’t the same as buying an existing home. Read through some of what you’ll need to know before buying the home to make sure you’re aware of what needs to be done and how this might differ from other home sales.
You Will Need a Real Estate Agent
It’s easy to think that bypassing the real estate agent is a good idea since you’re directly dealing with the builder, but this isn’t the case. The builder pays the agent’s fees, so there’s no harm in having a real estate agent, and they’ll help make sure everything is done right, and you’re protected through contracts during the sale and the building process.
Take Time to Find the Right Lender
The right lender can make a huge difference. They should be experienced with new construction mortgages. When you talk to a lender, on top of learning about how much you can afford and the interest rates, ask about ways to save money, such as paying for points to lower the interest.
Learn About the Neighborhood or Area
Do research on the neighborhood or the area if the neighborhood is just being built. Consider what is planned for the area in the coming years, the commute to work, the commute to shopping, and more. If the area isn’t right, even if you love the house, it’s not a good fit for you.
Get Information About the Builder
Builders vary, so do research about the builder before choosing one. Check out the reviews for builders, look into homes they’ve built, and take a look at the plans they have for you to choose from.
Get Everything in Writing
Whether you’re making a change to the layout or you’re just opting for a different paint color than the standard one for the trim around the home, make sure everything is in writing. If there is any confusion down the line, this will help make sure it’s done to your satisfaction.
You’re Not Buying the Model Home
Remember that you’re not buying the model home and that it may not look exactly the same. Though you may opt for a home with the same plan, you can customize the new construction home to your liking.
Get a Guarantee Before Buying
There should be guarantees in place, such as a guarantee that the home will be built on time. The builder should offer these guarantees but request them and have them in writing if they don’t.
Don’t Skip the Home Inspection
A home inspection is a vital part of any home-buying experience. Even though the house was newly constructed, that doesn’t mean there aren’t mistakes or other issues that will need to be fixed before you buy.
Pay Attention During the Walkthrough
During the final walkthrough, check to make sure there are no other issues and that any problems brought up as a result of the inspection are handled. If not, they should be handled before you close.
If you’re buying a new construction home, you can expect all of the above to happen. Make sure you do any research carefully to ensure you will love the new home.
Now that you have all the facts to purchase a new construction home you can take the next steps. Metro Places offers all the elements for a great life. Browse our portfolio of master-planned communities with new construction homes throughout the Tampa Bay area and see which is the best fit for you. Contact us to schedule a tour today.
Topics: new construction home