This past July, over 1 million new homes were built. Having a brand new home sounds like the ultimate dream.
Imagine walking through a house no one else has ever lived in before. But is a new construction home everything you want it to be?
Before pouring your money into a new house, make sure you ask your real estate agent these questions. The answers will shape the rest of your home search.
1. Can Modifications Be Arranged?
Most new construction homes are built in subdivisions by one home builder. All the homes usually follow similar floor plans with slight deviations.
Ask the selling agent if the home builder is willing to make some custom changes. For a small upcharge, closets and designs can be modified slightly.
Don't expect to overhaul the entire floor plan. But little changes can make a house feel more like home.
2. Do You Have New Construction Home References?
Find out what others have experienced living in a home built by the builder. Their unfiltered and open take can be the convincing you need to buy or don't buy.
Remember, you don't have to use one company for your build. Think of the reference list as your first step in shopping around.
A company is probably going to give you a list of the most satisfied customers. The best option is to stop by one of their subdivisions or planned communities and speak to neighbors while they are outside.
You can check several construction listings and ask the residents what they love and dislike about their homes.
3. Can a Home Inspector Look at the Property?
Just because the house is new doesn't mean there won't be problems. Maybe a contractor made a mistake or an incorrect measurement.
If you've heard mixed replies about the quality of work, this is a good opportunity to put their reputation to the test.
Homebuilders who refuse to allow a home inspection shouldn't be trusted. Additionally, stay away from home builders who have a company inspector.
4. Are Warranties Available?
Don't move into a new construction home without a warranty. New mechanical systems can fail due to faulty wiring or a product defect. Don't get stuck with thousands of dollars of repairs and replacements.
Make sure the warranty covers all mechanical systems, installation, and compliance laws.
5. Can I Cancel the Contract?
In regular real estate dealings, a buyer can back out if the conditions change. Know everything about the cancellation policy before you sign anything.
Don't get locked into a home that doesn't appraise for the agreed price. If your financing doesn't come through, then have a way out of the contract.
Buying a new construction home is an exciting time. Just remember that "new" doesn't mean it will be problem-free.
Ask these questions and do your homework so you can have the best experience of purchasing a new home.
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