Considering New Construction? Follow These 5 Tips
Purchasing new construction can be an exciting process. There is something nice about moving into a house that no one else has lived in before. In most cases, homebuyers are able to make some customizations as the house is being built.
Homebuyers think the process should be easy when purchasing new construction. While that can be true, there some things that you want to avoid.
These 5 tips will help you get the best deal when buying new construction.
Perform Your Due Diligence
Before signing any paperwork, you want to make sure that you are working with a reputable builder. Do your research to make sure there are no complaints standing against the builder. Verify the company has the proper licensing and insurance. Ask questions to find out if they work with sub-contractors or if they complete the work themselves.
Consider Hiring an Attorney
Most buyers don’t want to take on extra expenses when purchasing a house, but sometimes spending a little money upfront can save you a lot of money down the road.
Hire an attorney to read over any of the documents provided by the builder before signing. Most of the time these terms protect the builder. However, your attorney can add addendums to help keep you protected throughout the process.
Ask about Upgrades
When walking through a model home you need to remember to ask what is included in the base price of the home. Many model homes come loaded with many of the upgraded features that are available. This means that what you see with a model home is not usually what you get.
Before signing anything, make sure you understand what you are getting and what will be costing extra.
Don’t Forget the Inspection
Just because the house was never lived in before does not mean that you should skip having it inspected. In fact, a new construction home gives you the ability to have it inspected multiple times.
Bring in an inspector before the drywall is installed so your inspector can easily check the plumbing, electricity, and HVAC systems along with the construction. Then you can bring them in again to check the completed work. Homes are built quickly nowadays and mistakes are easy to make.
Walk Through it
Before you close on the house make sure you take the time to do a formal final walk through of it. Look for any areas that need to be corrected, including nail pops in the drywall or chips in the tile.
You are paying for new construction, so make sure that the builder got it all right. Do not close on the house until you are getting exactly what you agreed to.
Just because you are buying new construction does not mean that your job is easier as a buyer. Negotiating the deal and completing inspections will help make sure that you are getting what you want out of the process. Put in the necessary work so that you can get busy enjoying your brand new home.