Buying a new construction home is a much different process than buying a pre-owned home. Familiarizing yourself with what to look for will help you navigate the process with confidence.
1. Use a real estate professional
Real estate agents offer their expertise with reviewing a builder’s paperwork to ensure your best interest is met and will interpret the contract for the you. A real estate agent will also help locate a community and floor plan that fits your lifestyle needs.
2. Choosing the right builder
Aside from reading online reviews, there are a couple questions you can ask or research to qualify a builder. Having a strong financial history for at least three years is recommended as well as providing a 10 year insurance-backed structural warranty on the homes they build.
3. Negotiations
Most builders, not all, have established set prices for the homes they build and are not as likely to negotiate the sales price. However, see if your builder is willing to offer upgrades to the home such as landscaping, window coverings or granite countertops as part of your purchase agreement.
4. Use a home inspector
While this is a newly built home, having an inspector walk through the house could help in addressing any problems before closing.
5. Get it in writing
It’s important to understand and keep copies of the purchase agreement and all other documents that are exchanged between you and the builder. If anything arises after the closing, the paper trail you maintain will help keep you protected.
