If you’re in the market to purchase a new construction home, you’ll want to be an educated buyer. Many home buyers desire a newly-constructed home because they offer more energy efficiency and design options. You can customize many things such as flooring, appliances, counter tops, cabinetry, appliances and wiring (TV, audio, computers and phones).
Buying a new home instead of a resale home requires some preliminary research on your part. It’s good to know the pros and cons of purchasing a new home so that you know what to look for as well as what to look out for. Without doing your homework before you buy, you may find that your new home fails to measure up to the standards you expected.
Check Out Your Builder
You’ll want to find out as much as possible about the builder you hire to construct your home. Find out how long the builder has been in business of new construction. Go online and check for any complaints against them. If you type in the builder’s name followed by “complaints,” you’ll be able to access what people have to say about their experience. You can also type the builder into the Better Business Bureau (BBB) for more dirt if there is any.
Keep in mind, even the best builders can not please everyone. But if you see page after page of disgruntled customers, take it as a red flag warning to dig deeper into the builder’s reputation. Speak with others who’ve used the builder in the past and more recently. This will be the best ways of finding out how a builder’s customer service, craftsmanship and professionalism measure up. Investigating your builder can be time consuming, but pays off ten-fold if it helps you avoid making a costly mistake that you’ll regret later.
Location Is Key
Once you have decided on the builder, the next step is researching the neighborhood you want to live in. A good place to start is the local town or city zoning board. If there are open vacant fields in your surrounding area, find out what they are zoned for. Don’t take the sales rep’s sales pitch as gospel when it comes to describing the plans for the area. Remember, they are there to “sell you” how fabulous the neighborhood is and will be. Do your own sleuthing and get the facts.
You’ll also want to find out about the schools in your area. Makes sure those zoned for your neighborhood are highly-rated whether you have school-age children or not. This is one of the main things buyers look for, if and when you should decide to sell your home down the road.
Pros and Cons
There are two sides of the coin to every decision so it’s best know what you can expect about both. Here’s a list of the pros and cons of purchasing a newly-constructed home:
Upside
* Customized options and upgrades
* Less maintenance
* Updated building and safety Codes
* Energy efficient and innovative usage of space
* Comes with state of the art amenities
* May have recreational facilities like playgrounds, community pools, clubhouses and gyms
* New building materials tend to be safer because they don’t include such things as lead and asbestos
* Comes with construction and appliance warranties
Downside
* Resale can be difficult in a sub-division before all the homes have been built
* Delays in construction are common place
* Can cost more than existing homes due to escalating land values
* Dealing with noise, dirt and construction until all the homes are built
* Additional costs such as mandatory HOA fees and other assessments
* Higher taxes due to impact fees may be charged, in order to expand new services to your area.
* Unwanted developments or businesses may continue to be built on neighboring land
Before you sign on the dotted line of a new construction home, make sure you’ve checked out the builder, researched the surrounding neighborhood and assessed the pros and cons of purchasing a new construction home.
For information on a mortgage for your new home, visit the experts at New Homes Central Lending.
http://www.homesadvisory.com/purchasing-new-construction-home-what-you-should-know.html
