Posted on: 25 February 2015
Buying a new home is a large investment. The first thing you should know is that you will be working closely with the builder. That makes a lot of sense because you want the builder to present you with a finished home that is built on the specifications you both agreed on in the planning and design stages.
Choose a Builder With No Financial Baggage
Do a little investigating to find out whether the builder you plan to hire has a financially sound background. Industry experts recommend that you find out whether there are any liens filed against the builder. You can reportedly find that kind of information at a local courthouse.
Visit The Construction Site
You can get more meaningful information about the builder by visiting the construction site. Talk to subcontractors who work for the builder. Find out if they are getting paid and whether they are paid on time.
Ask About Upgrades
Watch out for the home equipment package that you are offered. Read the specifications. Sometimes builders will give you a stove but no refrigerator or a washing machine but no dryer. That's the sort of thing that should tell you something is wrong with that offer.
Upgrades can be a way to get a full equipment package. They are given away as teasers to get you to buy a home. They may also be available at reduced prices as well. Ask about this issue early in the process. Change orders become costlier late in the building process.
First-Time Home Buyers
If this is your first time buying a new home, start from scratch by establishing your spending budget. There is the all-important business of finding a mortgage lender to finance your project and get you preapproved.
Include Property Ancillary Charges In Loan Application
Be sure to factor into the loan application fund amounts to cover property taxes, insurance and other financial obligations. If you are stretched for funds, you might not be able to pay for those obligations on a regular basis out of your current bank account.
A Question of Privacy In Subdivisions
If you're the kind of person who will find it distracting to live in a new home that is only yards away from your neighbors' property on both sides, then perhaps you should choose a slightly more rural community with more land space. That type of location will guarantee you more privacy.
Buying New Homes Offer More Choices
Buying a new home gives you the opportunity to choose favorite flooring. You can pick exterior and interior paint colors and make other individual choices. Get to pick the lot of your choice by shopping early, experts say. The choices you make allow you to place your personal touch on your future home. Those are choices you don't have when you buy a house that has been around for years.Share