adplus-dvertising

7 Things to Consider when Buying a New Construction Home

When most people talk about buying a home, they’re talking about a home that was built years or even decades ago. However, there’s nothing quite like the feeling of moving into a new home that is brand new, has had no previous tenants, and possibly custom built for you. While moving into an already constructed home may be more convenient, electing to have a custom home built specifically for you just takes the cake.

If you’re thinking about investing into buying a new construction home, here are 7 things to consider before doing so:

  1. How long will it take to build?

The number one thing you need to know when you’re buying a new construction home is how long it’s going to take. If you’re living in a home or apartment, you’ll want to time the move so you don’t have to pay two monthly payments for each property. If it’s not timed properly, you may need to find temporary living arrangements, and you don’t want to be stuck without a place to stay while your home is still in progress – especially if you have kids, pets and family members relying on your primary living situation.

  1. What’s included in the purchase?

It’s also a good idea to ask about what’s included in the purchase of a new construction home. Little things like shelves, towel racks and even cabinets may not be included in the cost of your new home. Also, think about look and feel of the home, painting, fencing and a swimming pool – it’s important to know those things ahead of time so you know what you’re getting yourself into and have set expectations.

  1. Is landscaping included?

A new construction home doesn’t look very good without a little landscaping, so make sure you ask the home builder sales rep about that. Will there be trees planted around your home? What about grass or bushes? In some cases, you’ll need to hire a landscaper to help you get trees, grass and shrubs planted after a contractor has finished the construction side of things.

  1. Bringing your own materials and fixtures

Sometimes a home builder will use cheaper building materials than you prefer. If this is the case, you may be able to supply your own materials and fixtures that can be used in the construction process. Ask your builder if you’ll get any sort of credit for providing these supplies and sparing them the expense of fixtures and materials.

Built Property - Villa & House

  1. Is your property part of an HOA?

Homeowners associations, or HOAs, definitely aren’t for everybody. The thing is, new construction homes are often built to be part of an HOA, which is something you want to know before you spend your hard-earned money on a home. Many HOA’s have monthly fees and most all have specific guidelines to abide by – some of these things can include parking limitations, noise restrictions, community pool information and yard maintenance. Don’t forget to ask your new home sales rep if your home will be part of an HOA.

  1. What is the potential extra cost?

There’s always a chance that your project will run over budget and maybe over time too, but it’s important to know the specifics of what you could have to pay. Ask about the escalation clause, which allows the builder to pass expenses on to you. Ideally, you want to look for a contract with an escalation clause of 10% or less.

  1. Is there a warranty on the home?

It’s common for new homes to have a warranty for at least a few years, so make sure you know what kind of warranty you’re dealing with. You should know how long your warranty lasts, what’s covered and how it all works.

A new construction home is great if you’re looking to upgrade to modern comfort, but there are some key things you need to be aware of. As long as you consider these 7 things before buying, you’re well on your way to owning the new construction home of your dreams.