Purchasing a new home will give you a home with all new surfaces and systems as you work with the builder and contractors. When you go into a new home construction purchase, it is helpful to understand some details and insight about the process and how to best navigate it. Here are some tips to help you find and plan for your new home's construction and purchase.
Work With a Realtor
If you are looking at building a new home, it is going to be most helpful if you hire a real estate agent. Even though you aren't going to be shopping for an existing home, which may have pre-existing conditions and problems that your realtor can help you with the home's price negotiation, a new construction home can also require your realtor's negotiation experience.
As you work with the builder to select home features and finishes, you can negotiate on the purchase price of the entire home or ask for specific inclusions to be added to the sale. Your realtor is going to help you with these negotiations and make sure the contract includes those specific details that are going to protect your interest as the buyer. That said, don't forget to ensure the builder will include a commission fee for your agent's efforts at closing. This is usually a percentage of the purchase price, which can vary.
Understand the Construction Process
After you have negotiated purchasing a new construction home that has yet to be built, construction will start with digging the home's foundation and pouring the slab and foundation or basement walls. As this takes place, there will be a timeline established with you through the builder to let you know what construction activities will take place and when. Different parts of the home will be constructed at various times and are usually followed by an inspection from a city inspector to make sure the home is being built to code. If problems are found during the inspection, work can be put on hold or delayed to repair any issues found, so be ready for the potential for delays in the construction process.
Weather issues or material delays can also put your home's construction behind schedule, so be ready to remain flexible throughout the process. For example, if your home's foundation is being poured but the weather is unexpectedly wet and cold, this can cause a delay until the weather dries out. For more information, contact a company like Weichert, Realtors® - Good Life.
Share22 November 2021
After I decided to buy a new home, I realized that I probably needed to prioritize the things on my wish list. Since I am not wealthy, I realized that I probably couldn't get everything that I wanted out of a single home--at least, not this time around. Fortunately, I worked with an incredible real estate agent who helped me to figure out which type of property would pay off in the end. Finding a home took a lot of time, but I am really pleased that I found the right one. This blog is all about learning to prioritize your home hunting wish list so that you can have the home and financial situation of your dreams.
