5 Things You Need to Know about Buying New Construction

It seems everybody wants new construction homes now and with the developers scrambling to keep up with demand, prices are starting to go through the roof. So many subdivisions and developments were halted for 2 to 3 years during the housing bubble bust that they haven’t kept up with the demand and now are finding themselves scrambling to build houses quickly.

If you’re interested in buying a new home there are a lot of perks and conveniences that come along with new construction but there are also several drawbacks and frustrations that can go a long as well. Here are some of the things you need to know about buying new construction homes.

Make sure you have a buyer’s agent before you even think about buying a home.

 

This goes for new construction, pre-construction, or resale of an existing home and even land. If you already have an agent that’s working solely on your behalf and for your interests then you won’t be pressured or intimidated by any listing agent. Once you inform the listing agent that you have a buyer’s agent they need to back off and let you do all of the communication and negotiations through your buyer’s agent. This helps when you’re touring model homes in showrooms and takes the pressure off feeling obligated to purchase upgrades or custom items that you may not really need.

Learn more about Buyer Representation

Make sure you’re working with the builder and the developer as well as the listing agent and on-site manager if applicable. 

 

Being in close communication with the builder and developer means any issues can get resolved quickly especially if it has to do with the wrong finish, tile, countertop or flooring that’s put in incorrectly. You can quickly communicate any issues rather than going through numerous channels to make yourself heard.

It may not always go as you planned. (And that’s okay)

 

Building a home from the ground up is a lot more complicated than an existing property. You will have a lot more say-so as to finishes and details within the home but other issues may be very frustrating such as the time it takes to install a certain product or ordering custom items. Take a breath, calm down, and remember that it will soon be over and you will finally be in the home of your dreams.

Your emotions can tend to be all over the place.

 

Buying a new construction home where you have a lot of input as to the materials and quality of the construction can be very frustrating but it also can be very emotional. You can go from being really excited one day to being really frustrated with the listing agent another. Knowing the range of emotions you may experience can help put you in the right mindset to get through this process and actually enjoy your home once completed.

Still have a home inspection performed.

 

Many homebuyers feel that buying a new home means they don’t need a home inspection; that a simple walk through upon completion will do. But this is not always the case. We only stress that buyers for any type of property have a professional home inspection completed. A home inspector will go through the process of examining the quality of construction and any errors or hazardous material that may have been used incorrectly. Remember, this is one of the most important investments your point to make and knowing as much as you can about it now can save you time, headaches and money in the future.

Read more: 3 (REAL) Keys to Buying Michigan Real Estate

 

Buying new construction can be fun and exciting but knowing what you’re up against ahead of time and these five keys can put you in a well-prepared place to fill confident about your home purchase.

More construction resources for contract jobs: Davis Bacon.org