A new construction home can be exciting, right? Everything is new, but it also can be a challenge – everything is new! In fact, it can be an expensive investment that requires a lot of thought and careful planning. It’s easy to feel like you’re lost at sea when you enter the real estate market, particularly if you’re considering a new construction home. There are many benefits to new construction, but there are several things to watch out for as well. Make sure you’re going into your home purchase in the best possible way by following these tips for buying a new construction home.
First Time Buyer? How to Choose a New Construction Home
Remember the Necessities for your New Construction Home
The idea of being the first to live in a new home is attractive to many people, but it comes with a down side that many do not anticipate. When you buy a new construction home, you are buying just the home. It will be a sort of blank canvas for you to paint upon. This means that you will have to worry about things like fences, appliances, landscaping, and a dozen other concerns. Be sure you’re ready to make the investment in turning your new house into a home.
Consider the Location when Looking at New Homes
New construction has a tendency to stand alone in areas that were largely unoccupied before. Be sure to think long and hard about the location of your new home. Some new construction is built on lots in already established neighborhoods, while others may be part of large residential development projects. There may be an uncertain future for your home’s location–try to gather as much information as possible about the surrounding area to get a feel for the new neighborhood. We like these tips when choosing a new home.
Beware of Defective Construction
One of the biggest problems that new construction home buyers run into is a latent defect. Your new house might appear to be perfectly built, only to present with expensive problems later on. You might find leaks when the first rain storm hits, or you could be surprised by poor electrical wiring when your power fails. Be sure to research your builder’s reputation before you enter into any agreements, and have the home professionally inspected before you officially take possession of the home property.
Ask About a Warranty When Looking at New Homes
Many areas now require a warranty on new construction homes according to law. This is meant to protect buyers from the danger of possible defects in construction. Be sure to ask lots of questions about your warranty–you don’t want to simply take the builder’s word. Whether you’re dealing with a reputable builder or a newer upstart, be sure to get all the details on a possible warranty before making any agreements.
Check Your Builder’s Past Work & Reputation
It would be a good idea to get a look at a few builders’ previous work when you shop for new construction. Research if they have or have had construction insurance when building your home. Ask for tours of some previously built homes to get a feel for the kind of work you can expect. You should never go blind into a new construction deal. Get the straight story from your own two eyes, and believe it when you see it. Always be cautious about new construction–you may love your new home, but only if it’s built right.
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