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

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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.

For more moving tips on Stagetecture, click here.

Before you run and put the “For Sale” sign out, determine what is going to be the asking price for your home. Wait! The rules and the market have changed.  Just because you spent 4 weekends working on refinishing the back porch, doesn’t mean you can ask for $50,000 more dollars. Let us show you 3 ways to help you determine the asking price for your home.

1.) Research: Understand the market.  5 years ago, the

blood, sweat, tears, and especially money put into a house usually meant  profits and appreciation of most houses being sold.  Currently, the rules have changed. Depending on your location, desirability of the neighborhood, and recent sales, you or a Realtor you hire will need to do the research.

2.)Appraisal: Hire a professional, certified, residential appraiser to come inside your home and appraise the value, as it stands today. Bankrate.com has some guidelines on hiring a good one.  Remember, an appraisal is only good for 3 – 6 months from the time the appraisal was administered. This number can fluctuate depending on how volatile the housing market is. The appraisal will give you an estimate of what range your home could sell for, IF a buyer is willing to pay, AND a lender’s appraiser doesn’t come in with considerably less numbers.

3.) Comparable sales and listings: Comparable sales are homes that have sold within a given time period, and are comparable in size, age, location, style of home, etc… If all of the factors aren’t exact, as many as possible should be used to price your home against.  Once again, 5 years ago your neighbor Mr. Smith had upgraded his home at the same time you did. So naturally when it came time to sell your houses, you all were on equal playing fields.  Today, Mr. Smith’s home could have sold as a short sale or foreclosure home, which will bring down your ability to ask for a higher price that you had anticipated. Also research other houses that are listed on the market currently.  Getting close to your asking price is one thing, but getting people in the door is much bigger. If your home is priced way above your neighbor’s listed home, you will never see any foot traffic. Try Domania.com for finding comparable sales in your area.

]]> https://stagetecture.com/3-ways-to-help-you-to-determine-the-asking-price-for-your-home/feed/ 0 1649 https://stagetecture.com/selling-your-home-at-the-holidays/ https://stagetecture.com/selling-your-home-at-the-holidays/#respond Thu, 21 Jan 2010 01:44:34 +0000 http://stagetecture.wordpress.com/?p=1150 Entry #13, December 1, 2009

One of the hardest and frustrating times to sell your home… is at the holidays. Why? Since the holidays are usually based around traditions, and family, home sellers want to be able to relax. Throw up 1 million lights on the front of the house, and have a good ‘ol Griswold Lampoon’s Christmas.  The fact is, your home still needs to stay marketable… that is, if you still want it to sell. Read on for some tips on keeping your holiday mood, even when your house is on the market during the season to be jolly…

Keep it Simple:

Even though the yearly tradition in your neighborhood is to put out the 30

Christmas inflatables in the front yard. Fight the urge while your house is on the market. The same rules apply year around, keep it simple.

• Decorations: Decor should still show off the amenities of your home. Space, views, and clean environment are what make home buyers feel welcome. Try to keep extreme personalization to a minimum. Photographs, and other collectibles may be a turn off to some buyers. The more holiday neutral you make the atmosphere, the more the buyer can focus on the house. This is the reason you are selling it, right?

• Keep focused: Home buyers still look at homes during the holidays, believe it or not. Especially, military

  

  families, re-locations, and newly engaged couples are not phased by the calendar. This means that the same intent that you had in July, needs to remain in December. Visit your local home improvement store, or watch home improvement channels that have creative ways to bring in holiday cheer, without taking away from your home. Consider having holiday open houses on the weekends, and have refreshments, and holiday music playing while people walk through your home. Often times, a house might be the perfect gift on someone’s holiday wish list. Be prepared, buyers are ready… are you?

For more holiday ideas on Stagetecture, click here.