Are you looking to purchase a new home that has been recently constructed? Many people like the idea of new construction because everything is new and up to code and no else has ever lived in the home before them. However, buying new construction doesn't mean that the process is going to be free of problems. Here are some tips for purchasing a newly constructed home.
Ask About The Construction Plans For The Community
The price of a home in a newly built community can be different depending on when you buy. Buying early on can result in a lower price, but you deal with construction in your neighborhood. Buying later on when the community is finished can result in less construction but also a higher selling price due to supply and demand.
Ask About The Finishes
The look of a model home can look quite different from the typical home that is constructed. If you are being shown a model home, know that there are likely features in the home that are not standard finishes. Buyers need to pay extra if they want to have all the bells and whistles installed in the home when you purchase it from a builder.
You need to think about what finishes make the most sense to have the builder do and which finishes are better left for you to do after you move in. For example, if you want an upgraded furnace, it is better to have the builders install it than to do it yourself. That's due to the cost of a furnace being quite expensive, and it would be difficult to get rid of the basic furnace installed with the home later on. Things that are easy to swap later, like hardware for the kitchen cabinets, can be done on your own to save money.
Ask About Financial Incentives
You'll find that new home construction is often going to be less flexible when it comes to negotiating on the price of the house. However, there are other ways to save some money on your home purchase. It is worth asking if there are any financial incentives for working with preferred companies to purchase your home. For example, a construction company may be working with a local lender or title company, and going with them can save you some money on costs associated with those services. This is due to new home construction companies referring a lot of business to their partners.
Contact a real estate agent in your area to begin looking at new homes for sale.