While there are plenty of wonderful existing properties on the market, sometimes nothing but a brand-new home will do. It’s a special feeling knowing that you’re the first person to live in a home, enjoying the comforts and conveniences of a new property that no one else has. Not only can you be assured that the home is free from the wear and tear of previous owners, but you can make sure that the property is tailored to your wants and needs, as well.
Of course, buying a brand-new home from a builder carries its own set of challenges, apart from standard issues like mortgage rates and closing costs. However, by doing some research and using some common sense, there’s no reason that buying a brand-new home has to be a headache.
Choose a builder, not a property
The type of house you’re buying is less important than who you’re buying it from. Just because a home builder says they can do what you need or offers a good deal doesn’t mean they’re the right person for the job. Before entering into something as important as buying a brand-new home, make sure that your builder is experienced and trustworthy. Find out if your builder has the proper licenses. Look them up online for reviews. Speak with homeowners who have used the builder in the past or who currently lives in the builder’s properties. A good builder will have a good reputation, so keep that in mind before settling.
Hire a home inspector
Unless you’re very knowledgeable about the homebuilding process, hiring a home inspector is a smart idea. You want someone to be your eyes and ears throughout every stage of construction. A licensed and accredited home inspector can catch problems you might miss, as well as be able to speak with the builder about in-depth construction issues you might not know about. Your home should be inspected when its foundation is poured, when its frame is completed and when it is finished. Have a home inspector go over the property top to bottom can save you plenty of stress and expenses down the line concerning everything from faulty wiring, weak walls, shoddy roofs and poor plumbing.
Weigh upgrades carefully
Buying a brand-new home allows you the chance of adding special extras to your property. However, while these upgrades may be tempting, it’s important to weigh the costs. Extras such as a spa or wine cellar can add up quickly, so first make sure that your home’s basic needs are taken care of. Don’t sacrifice practicality for pizzazz when it comes to your property. If you do spring for upgrades, make sure the prices are fair. There’s no harm in negotiating.
Don’t do delays
When it comes to delays, brand-new homes trail far behind existing properties. Whereas all you need to do before moving into an existing home is close the deal, a brand-new home actually has to be constructed and made livable. Try to avoid closing escrow until a new home is completely finished. If you’re asked to sign a contract that forces you to close on a home that isn’t finished, renegotiate. The last thing you want is to be left on the line while construction on your new home drags on. Avoid ending up in court haggling with a builder by ensuring that your contract has definite dates for when a property will be completed.