Buying new construction? Here are a few things to keep in mind. Don’t forget to take us with you. — At no cost to you!
⭐️ You Can Negotiate
Many people falsely believe that there is no room for negotiation when working with a builder, but in fact, there are many areas open for negotiation other than overall price. You may be able to negotiate a reduced interest rate or reduced closing costs through an affiliated lender or title company, as well as a selection of upgrades and optional features. Work with a real estate agent or broker to choose the best options for your budget and timeline.
⭐️ Ensure Everything Is Well Documented
When you’re talking through your options with your builder or their representative, you may talk about options and prices in an informal way. Just remember that an assurance means nothing if it’s not in writing. Keep track of everything you discuss, and have an agent ensure that they are all properly noted in your contract.
⭐️ Home Inspections
Just because it’s new construction doesn’t mean that you don’t need an inspection. Accidents happen and errors occur. A real estate professional can recommend a well-qualified home inspector who’ll provide you with a comprehensive report of the condition of the property and what still needs to be completed before closing.
⭐️ Guarantees & Warranties
There will be guarantees and warranties for the building itself as well as its systems, appliances, and other features. Keep track of all of these, along with their specific terms and requirements, in order to make sure that you don’t accidentally void them or wait too long to take advantage of the repairs and benefits they provide.
⭐️ Expect The Unexpected
New construction has many great benefits but it can also have its share of problems. Be prepared for delays, mistakes, and other issues to crop up, and have a plan in place to address them. If everything is smooth sailing, great! If not, you’ll feel better knowing that you and a real estate agent have already thought through a number of eventualities, helping to ensure that you’re ready for anything.