There are many advantages to buying a new-construction home, and many people like the amenities available in new communities. But purchasing a new-construction home is not necessarily easier than buying an older home. If you want to get the home of your dreams at a good price, you need to be prepared. If you're in the market for a new-construction home, use the following tips for a smooth transaction:
Hire a Real Estate Agent
When you're planning on buying a new home in a community, you will most likely have the opportunity to tour model homes after visiting the sales office. The sales people in the sales office may be very helpful, but it is important to remember that they work for the builder, not you. When you hire your own real estate agent, you can rest assured that he or she will look out for your best interest. The home builder will pay the real estate agent's commission, so there is no out-of-pocket expense for you.
Understand the Upgrades
Model homes tend to be beautiful and tastefully decorated, but it is important to remember that most model homes have a lot of upgrades that are not included in a base-model home. If there are certain features or amenities that you love in a model home, make sure you find out whether they are standard or an upgrade; if you like features that are upgrades, make sure you find out how much they cost so you can determine whether or not you can afford them.
Find the Best Financing
New home builders will sometimes offer incentives if you take a mortgage out through their preferred lender. While the incentives can be tempting, it is important to explore all of your mortgage options before making a decision. Depending on the interest rate that they charge, you may be able to find better mortgage options elsewhere.
Order a Home Inspection
Just because a home is brand new, it doesn't mean that there may not be some issues that need to be fixed. It is in your best interest to have a home inspection done on your new home prior to closing. This will give you the peace of mind of knowing that everything was constructed properly and that the house is in good order. If any minor issues are discovered during the inspection, the builder will be able to correct them before your move-in date.