Signing a new construction home contract can be exciting when you receive the permits and the actual structure begins. However, buying a new construction varies from the process of a pre-built home. In this case, the items included, not included, and the ones hidden in the contract will depend on the kind of builder you deal with. However, if it is your first home, or it is your first time buying new construction, there are several aspects that you should know before you sign a contract with the agent. Just like any other situation, you are in the process of spending your hard-earned money. Therefore, you should prepare by asking the salesperson or agent the right questions. In this post, we’ll cover the top five questions to ask when building a home.
What is a new construction home?
A new construction home is where the buyer will be the first person to live after being built. Such a case can happen when you buy your plot of land from a developer, select the best home designs you like, and construct the home for you.
Why is it better to buy a new construction home?
New homes are usually more energy-efficient than older homes. Modern developers build homes with state-of-the-art technology, better insulation, and more contemporary building materials. Consequently, you will incur fewer energy costs than a resale home. When you purchase new construction, you will have the opportunity to request the builder to customize a few of the features to align with your specific requirements and needs. A new home will also not require a great deal of maintenance.
Questions to Ask When Building a Home
Even though newly built homes tend to avoid standard repair needs you would see in an older home; you should still do your homework. Make sure you’re aware of all that comes with new construction with these questions to ask when building a home.
Which of the features come standard, and which of them are upgrades?
When you view a new building for the first time, the salesperson will offer you the building’s minimum price. That price will include the standard finishes with a builder-grade quality. After that, you will get a chance to decide on the features you can upgrade. But doing so will result in additional costs.
Before you start to make a cost estimate for the home, you should find out if the base price is inclusive of any features before deciding on the ones you can upgrade. In this case, it is best to view the model home with the salesperson or your Realtor. Ensure that you’re aware of the features that count as upgrades and the ones that come standard. You might not wish to get halfway in the new construction and discover that a feature you thought was standard comes with costs, and you have already signed the contract.
When Should I Get a Home Inspection?
It would help if you were patient and flexible as you undertake the process of purchasing a new construction home. In this case, several issues can contribute to construction delays, including poor weather conditions and late delivery of materials. Also, depending on the county you are buying your home, the permit process might take an extended period. The builder has limited control over such an issue. However, every home builder should have their timelines and are expected to adhere to them.
One of the questions to ask when building a home is how long it will take for the builder to complete it. Remember, some builders might have terrible reputations for not finishing their construction as expected. They might use their salespeople to lure uninformed buyers into signing a contract. Even if the salesperson gives an estimated time period of the home completion, you should research properly and ensure that you agree with the agent and what you can do if it is not completed on time.
How often can I inspect the home during construction?
It would help if you inspected the building periodically. However, you might be surprised to know that you will not visit the home anytime you want. Most home builders have specific times when buyers can inspect the progress, while others tend to be restrictive.
Typically, you should review the home in three stages, including before laying the foundation, drywall, and before you conduct your final walk-through. In case the sales agent tells you that you’re not allowed access to the new construction, you should know that they might be attempting to hide shoddy craft or poor construction practices. When it comes to inspection, you might need to hire an expert agent to guide you.
Will the new construction home have a warranty?
Although the home is new, it does not mean that everything will be okay. Fortunately, most new construction homes come with warranties, and developers and builders might hang around after completing the construction. In this case, you might wish to ask the agent to inform you of the available warranties and the items covered. As a home buyer, you should receive warranties on manufacturer’s appliances such as roof, air conditioner, water heater, kitchen appliances, dryer, and washer.
Are you open to offers?
Most homebuyers assume that the salesperson’s price is the final one to pay for a new construction home. Although the building is new, it does not imply that you should pay the total price, making you incur huge costs compared to what you could have spent for an already built house. In this case, you should find out how the sales are performing. If they are moving slowly, attempt to know why. In case you are serious about buying the home, you should try to make an offer or ask the agent if you can get additional features if you pay the requested price. Other developers might pay for stamp duty, which can lead you to save some money. However, if you do not ask, you might not receive any offer.
Buying new construction can be appealing to several home buyers. New construction allows you the chance of moving into a property that doesn’t need repairs at the start. Most new construction homes come with a warranty covering any issues or defects that you can experience within a certain period.
However, new homes come with several concerns and worries. Therefore, ensuring that you know most of the new construction’s critical issues can help you make better buying decisions. The best way to find your perfect new construction home is by partnering with a knowledgeable Realtor who can guide you through the process. Bello Real Estate agents are standing by. Call us at (954) 547 2112 or send us a message – we’d love to help!