With new construction, it is extremely important to find a reputable builder. Two of the most important things to seek out in builders are the rapport you feel you can establish with them and their experience. In terms of a builder’s experience, ask for references and follow them up. There are no better sources than families living in the homes of the builder to attest to the workmanship and comfort of the home itself. Additionally, feel free to ask the builder for his credentials and if he’s received any awards or industry recognition.
Take the time to ensure that your new home will be built with quality materials. One of the best ways to check into this is to tour the construction site and examine other homes the builder has constructed. Ask to see model homes and evaluate them carefully. Examine the most basic elements from the foundation to the types of pipe and wiring used. Also be sure that your builder has a fair approach on taxes to ensure that you are not being charged taxes for a completed home during the time of construction.
You will also need to weigh the pros and cons associated with the different types of new homes. If you are considering a spec home, you may have to forgo certain elements of customization such as colors and finishes. However, one appeal of a spec home is the ability to move into your new home quickly and with little hassle. Plus, the longer you wait to purchase, the better the chance that the price of the home will come down since it costs the builder to stand vacant.
In the case of pre-construction homes, the opposite holds true. The earlier you decide to purchase, the less the home will cost. As construction proceeds on a new home, more and more buyers become interested as it becomes clearer what the home will look like.
You may find a great deal on a “builder’s close out” home. These types of houses are ones that must be sold in order for the builder to move on to another project. However, beware as this phrase is sometimes used as a marketing ploy to convince buyers that they are getting a deal.
Finally, be sure to carefully evaluate and compare each builder’s warranty and after-sales service arrangement. Though the actual design and construction of your home will take a matter of months, you may rely on your builder even years later.
In the end, the best plan is simply to do your home buying research and be thorough when it comes to buying a new home. Going the extra mile can help to find a quality home at an affordable price.
My name is Robert Stark. I have been in the industry of real estate investing for over 17 years. My real estate investing endeavors have run the gamut from vans down by the river to mansions on the mountain side. In the last 5 years I have been able to focus on buying new homes, and through my experiences I have acquired a considerable amount of home buying knowledge that I would like to share with anyone who cares to listen.
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