New Construction Homes: What First-Time Buyers Need to Know

Buying a new construction home comes with many benefits. There are no worn-out parts for you to repair, and the home is energy-efficient. However, the process of homeownership is often long, and for first-timers, it can feel challenging. Despite that, this has not stopped newcomers from acquiring property. In fact, by 2019, first-time homeowners accounted for about 42% of shoppers. Therefore, if you are interested in new construction homes, here is what you need to know.

Choose a Realtor with Experience in New Construction

It is important that you choose an agent with new home construction experience. This is the person that will scrutinize the fine print and ensure you are getting a good deal. Since they are your representative, they will inform you about the risks and benefits of such a transaction. They also know the right questions to ask, and if there are any red flags, they will inform you.

Research Reputable Home Builder

This is probably one of the most important tasks you will have to do when buying new construction homes. You want someone who will deliver the home you want. Do not go with the first builder you find. That does not mean they are unqualified, but it is important to explore options. Have a list of several contractors, then narrow down the list. You can use factors such as availability, location, reputation, cost, etc. Most importantly, ensure the builder is licensed and insured.

Select New Construction Home Upgrades carefully

It is advisable that you get upgrades from your builder instead of hiring new contactors. This is because they are familiar with the project. When selecting upgrades, be keen not to exceed the loan amount you are qualified for-even adding that extra bathroom can set you back on several thousands of dollars depending on the features and size. Also, ensure that you choose upgrades that add value to your home. It is okay to invest in new construction home upgrades as long as you know they will increase the value of your home.

Request a Home Inspection

Most of the time, home inspections are associated with pre-existing properties because features are old and worn out. However, even newly built homes can have defects. Sometimes, builders miss something or make mistakes. A home inspection tells you that a home is safe.

While buying new construction homes can be challenging, you do not have to worry about the process. The above tips can help you ensure you get your dream home.

Date: December 8, 2021
Category: Blog