5 Tips to Buy a New Construction Home
Have you ever considered buying a new construction home? Maybe you’re not sure how buying a home from a homeowner is different from buying it from the builder. Read these 5 tips for successful new construction home shopping.
#1 Work with an Experienced Agent You Trust
Ideally, find a real estate agent with new construction experience to offer you unbiased advice. In addition, keep in mind that builders frequently staff their offices with affiliated agents who ultimately represent them. You want to make sure your agent represents YOU and your best interests, not the builder’s.
#2 Understand What the Model Represents
Homebuyers often develop an attachment to features they see in a model home. However, builders often include a combination of standard features and upgraded features. Your agent can get you a list from the builder of standard features and upgraded features, along with the costs.
#3 Research Lenders
Some builders work with a preferred lender, and some builders even require pre-approval with their preferred lender. Regardless, do your own research on lenders, know your options, and find the loan offer that works best for you.
#4 You Should Still Do an Inspection!
Don’t assume that a new home doesn’t need an inspection. Issues can exist in new homes, too! Fortunately, your agent can fill you in on the details of the inspection process, such as your ability to request repairs and whether or not you can terminate the agreement.
#5 Know What’s Planned
As the buyer, it’s your responsibility to be aware of what may be planned in the years ahead in your community. Call the municipality and ask questions. Find out how land around the new home may be zoned, what neighboring residential or commercial developments may be planned, and how these plans may affect traffic, your views, and quality of life in your new home.