Wednesday, May 1, 2013

Tips for buying NEW construction homes

Five things you should consider when choosing new construction over an existing home.

Unless you have an individual lot and hired a custom builder that will build-to-suit on your lot, most new homes are built in developments with a collective style. These developments can be as small as a cul-de-sac, or as massive as a former farm field filled with acres of new roads and new homes.
Often new construction homes are more expensive than resale homes of a similar size. They are built to the latest codes and standards, they tend to be contemporary styled and energy efficient. Sometimes, these types of developments can represent a savings over established developments with existing homes.
Either way, the decision between a new development and an established community is worth taking time to consider.

Here are some ways to make sure the new house you're buying is really the house you want:

  • Check the builder's track record. What else has the company built? Were previous projects completed on time, on budget and without bad blood between the builder and buyers?
  • Walk the streets. If you live nearby and previous stages of the development are occupied, ask the residents if the builder did quality work and lived up to contractual commitments.
  • Picture your home, not the model home. You can certainly have the granite counters, surround-sound home theater and jetted tub you saw in the model home, but they're not included in the base price. You will pay extra for them.
  • Bring your own agent. If the builder has a real estate agent on site, the agent will be more than happy to help you. But, on-site agents work for the builders who hire them. Their best interests will be for the builder, not you.
  • Finally, consider the intangibles. Similarly styled homes attract like-minded buyers, and most developments are built with families in mind however other communities may be designed for retirement. Depending on your point of view, the consistency, conformity and neighbors can be a blessing or a curse.
Start your search for a new home here:

Ready to get more information about building a new home? Try these resources:
Articles about Building a New Home
Interview and Find the Right Agent to Help you with New Construction
Choosing between Production Builders and Custom Builders

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