Tips for Buying a New Construction Home

Many homebuyers today are looking for specific features in a home. Whether it’s two bathrooms, an open floor plan, or some other unique preference, the features today’s homebuyers are looking for may not be readily available in already-existing homes. 

If you have already looked at a slew of homes that just don’t fit the bill, it may be time to consider checking out a new construction home. New construction homes can be purchased in one of three ways. They can be:

  • Already built
  • Custom-built from a set of upgrades and finishes, or
  • Completely designed and built to your preferences

As with buying an already existing home, there are certain things you should do if you’re considering buying a new construction home. Here’s what you need to know. 

Consider the Pros and Cons

Buying a new construction home has both pros and cons to consider. Purchasing this type of home isn’t for everyone, so you should think about these things before jumping in. 

Some pros of buying new construction are you won’t need to spend time or money making repairs and upgrades right away and it’s likely your new home will come with smart home features. 

On the other side of the coin, buying a new construction home is going to be more expensive than purchasing a similar one that already exists. 

You Need an Agent

Before visiting the building site of a new construction home, enlist the help of a knowledgeable real estate agent. This person should not be affiliated with the builder, so you receive unbiased assistance. An agent will help you with the complicated paperwork and is likely to save you time and money. 

Research the Builder

Education is power, so take a few moments to research the builder’s work, experience, and reputation. If you can, talk to people who already live in the community to learn about their experience with the builder. Be sure to ask about costs associated with living in the area such as property taxes, utility costs, etc. 

Remember: The Model Home is Designed to Sell

As you tour the model home, keep in mind that it has been staged perfectly with the right furnishings and upgrades to impress you, and make a sale. What you see isn’t necessarily what you’ll get in your own home. This is where your agent comes in handy as she will be able to tell you what you can expect in your home versus what you see in the model home. 

You Can Get a Better Deal 

Builders usually don’t like to give discounts on the purchase price because it sets a precedent for future buyers who may also want said discounts. You can, however, negotiate a better deal in terms of upgrades and payment of other expenses like closing costs. 

Simply talk to the builder to see if he is willing to include special upgrades in the home free of charge or if he will pay the closing costs on your behalf. 

If you aren’t finding a house that feels like home among existing houses, a new construction home may be the answer. Keep the tips above in mind as you search for a new construction to call home.