6 Tips When Buying a Newly Constructed Home
The absence of existing inventory for sale has pushed many homebuyers to consider new construction. When you purchase a new home over a preexisting home, there are numerous area’s that you should be aware of.
To reduce and help ensure fewer issues and hassles, here are 6 tips to keep in mind if you are considering new construction.
- Consult your Realtor
Hire your own Realtor as your consultant The builders and the sells representatives represent themselves. A good Realtor will help you discern the builder’s contract, contingencies, and deadlines. Have someone on your side and for your interest.
2. Look for builder’s incentives
Builders have incentives. Some offer credit towards closing costs for using their preferred lender. They have upgrade incentives and packages. Your Realtor will ask for them and help negotiate them into your new build contract.
3. Hire an Inspector
In spite of the way that developers must conform to town and city controls, a home inspector will have your best interest as a primary concern! When purchasing new development, you will have between 1-3 reviews, dependent on the builder’s contract. Your Realtor can help you schedule these.
Their assessments are critical on the grounds that the examiner will frequently see something that the builder missed. The builder will remedy issues found by the inspector.
4. Maintain good communication with your builder
Starting with the pre-development meeting with the project manager. Ask how often you will receive builder progress updates. Ask for picture updates. and how often can you visit the project site? If you have a Realtor, they will also ask for updates throughout and know what type of questions to ask.
5. Schedule extra time into the process
Expect delays. Most builders have a couple weeks built into the timeline for delays. Have contingency plans if there are more expected delays.
6. Visit the site often
Schedule time with your project manager weekly. Little blenders need to be resolved quickly. The project manager will also have the pressure of your constant watch and they will be more mindful of your home. Also, take pictures throughout. It will help you see behind the walls because it will be covered with drywall before you know it.
Experiencing your home take shape is a wonderful experience. Taking steps to make the process smooth and seamless will give you peace of mind.
If you are thinking about new construction, let’s talk first. Having a Realtor help you through the process with the builder will be invaluable.