Starting Fresh: How to Buy a New Home Construction
What could be more exciting than living in a brand new home? The blank slate can be thrilling: living in a place no one has lived before, a home with fresh paint, untouched carpets, and even fresh grass that no one has trodden!
While most of the homes bought and sold are preexisting, more and more buyers are interested in new house construction. There’s no doubt moving into a newly built home is exciting. But this sort of transaction comes with its own set of challenges as well.
Find out all the basics of what you’ll need to know to get started.
Understanding the Types of New Construction Homes for Sale
There are a few different types of new construction homes you might consider. They fall into three main categories:
- A home that is pre-built according to design templates
- A semi-custom home: the bulk of the house is built and you have the option to pick a few design elements, finishes, and extra upgrades
- A fully custom home: you have input on the design from the ground up
If you’d love to be involved in every stage of the building process, an entirely custom home could be a great fit. On the other hand, if you’re ready to move right in and don’t want to bother with all the design details, buying a pre-built home is likely the better option.
Select the Specs of Your Home
Now that you know what kind of new house construction you’re interested in, you want to determine some details about the home of your dreams. Here are a few things to consider:
- Location: Is it as close to (or far from) the city as you prefer? Will you have a reasonable commute (if that’s a must-have)?
- Budget: Will this home fit into your budget—especially if you have the option for upgrades?
- Size: Does the home have the size and number of rooms you need?
- Neighborhood: Is it still under construction? Do you have ample lawn space or privacy? Are there specific desired amenities such as a swimming pool?
Many new construction homes for sale are in subdivisions. It’s a good idea to drive down and investigate them on your own and see if it has what you’re looking for.
Also, you want to be sure to find out as much as you can about the builder. Start by looking online: search for any reviews, complaints, or lawsuits. This simple step can help you avoid a lot of potential headaches down the road!
Find a Real Estate Agent
Most builders have an agent, but remember that this agent is there with a goal to sell the property. Before you speak with any builders, hire your own real estate agent to make sure your needs and desires are the number one priority.
Another advantage of taking this path is that your agent may have other insights that the builder would not. An agent will know all the unique processes and challenges of how to buy a new construction home better than anyone.
Work with a Lawyer
More often than not, a new construction home will have a more complicated contract than your typical house sale. There are all sorts of details you’ll need to know such information on warranties on the home itself and appliances within the home.
With the amount of paperwork involved in buying a new home, it’s always a good idea to run all the paperwork past a lawyer familiar with real estate language.
Don’t Forget the Home Inspection
Just because the home is a new build doesn’t mean you should skip getting a home inspection. Some new homes can have their own set of problems to watch out for. Insist on getting a comprehensive home inspection before you even begin the price negotiation.
Talk to your real estate agent today to start ironing out all the details of buying a new home.