4 Tips for Buying a New Construction Home
When it comes time to purchase a home, one of the options you have is to purchase a new construction home. A new construction home is one that has just been built or is in the process of being built. If you purchase a new construction home while it is being built, you may be able to influence the build.
Tip #1: Hire a Real Estate Agent
When it comes to buying a new construction home, you should still work with a real estate agent. You may want to work with a real estate agent who has experience working with builders. Buying a home directly from a builder is a little different than buying a house from a regular residential seller, and you want to work with a real estate agent who can help you understand the difference. In general, in this type of situation, the builder will pay the agent's commission.
The relator, for example, can negotiate upgrades to the house, such as adding in nicer appliances or upgrading the landscaping that comes with the property. Most builders are not going to want to reduce the price on their new builds but may be willing to do a little extra for you on the house.
Tip #2: Research the Builder
Next, you need to research the builder who is building the new house you are interested in purchasing. Find out what other homes they have built in the area. Drive by the homes and see what you think of the exterior. See if you can look at a portfolio of their work. Every builder is going to have a different style, so you want to research the style of the builder to be sure you like the quality of their work.
You can also lookup reviews online of the builder. You can also ask around for recommendations and insight about the builder in your local community.
Tip #3: Always Get a Home Inspection
Just because the home is new doesn't mean you can skip out on the home inspection. You need to have the house inspected, as the inspector may find issues with the build, or little details that the builder may have overlooked. A home inspection will allow you to ensure that the home has a good structure and will give the builder an opportunity to fix any mistakes they overlooked during the building process.
Tip #4: Investigate the Home Warranty
Oftentimes, builders will offer a warranty on the house. They may offer the warranty directly, or they may offer the warranty through a third-party company. Be sure to read the warranty carefully and make sure you understand what is covered.
When it comes to purchasing a new construction home, you still want to work with a real estate agent and get a home inspection. You should research the builder of the home to make sure you like their style and find out what type of warranty they offer on their work. With a new construction home, you may have some say in some of the finishing details if the builder is still working on the home when you start the purchasing process.
For more information on new homes you may be interested in, contact a local real estate office.