Buying a new construction house is quite a different process from buying a previously-owned home.
You don’t have to be concerned about the owner having toes to the property emotionally, which often impacts the negotiation.
However, you still have to calculate your budget and secure financing before you even consider house hunting.
Think about how much money you would like to invest, then try to get pre-approved by a bank or mortgage company.
Factor in additional costs such as property taxes, insurance, furnishing your home, the cost for yard maintenance, and other similar expenses so that you won’t be left broke or in a hole.
If you’re contemplating purchasing a newly-constructed house, read these five steps to guide you along
Consider All The Options
The feeling of being the first person to live in your house is unbeatable. You can buy a brand-new house like one of the new homes in Palm Coast that are move-in ready, semi-custom, where you choose your finishes and upgrades or custom-built.
While new homes sound exciting, make sure that you are ready for the commute and all the various changes that are sure to come with it.
Check Out The Neighborhood and Builders
Getting a realtor to assist you is always a great idea, specifically one that knows the area well. They can help you tour the subdivision and talk to the builders in terms of the time frame for completion, negotiating the price, and helping you understand the fine details.
Make sure to be specific when talking to your agent that you’re seeking a new home so they can accompany you on the first visit.
When researching neighborhoods:
Check new construction listings online and
drive and walk around the neighborhood to view the amenities and home quality and talk to homeowners.
Ask the developer about HOA fees, cable and internet readiness, and inquire about zoning laws for the area, as they sometimes change rapidly. Find out from your agent what development plans are in store for the neighborhood.
After canvassing the neighborhoods, find out about the builder for the community you’d like to live in.
When researching builders:
Check for Better Business Bureau complaints against your Developer’s company and ask realtors about the company’s reputation.
Visit some of the previous developments and enquire about the durability of the home if possible.
Ask About The Amenities
Inquire about the amenities that are standard and those that are considered upgrades. Ask the builder about amenities and upgrades to both the house and subdivision as a whole.
If you need upgrades, tell them early or it could be costly.
Home Warranty and Inspection
Even new houses may have issues, so get an independent inspection done by a professional. Walk away if the builder objects.
Every new home comes with a basic warranty from the developer specifying that anything major that occurs structural wise is to be repaired by the builder. Make sure it is at least a year and has insurance backing.
Finally, remember to weigh all your options when considering financing including first-time homebuyers programs. Compare fees for the builder’s lenders and others you look at.
Once you’ve gone through all the steps and feel comfortable, you can close the deal.
