Have you taken a drive lately and noticed all the new communities popping up around the city? Exciting right! These new communities often offer beautiful condos, townhomes and single-family homes. Not only do they have a property for every buyer, but they also offer them at great prices! I mean… who doesn’t love a brank spankin new home with all the beautiful finishing’s that we dream of as home owners? I have a few tips which many people overlook when purchasing a new home that you need to know:
My first and MOST IMPORTANT TIP is to use a real estate agent that is NOT affiliated with the builder. Majority of buyers don’t realize that they are able to use their own agent during this transaction. It is so imperative to have someone on your side that is looking out for your best interest. The real estate agent that will be provided to you by the builder works on be half of the builder for the builder’s best interest...NOT ideal. It is important to note that before you go to see any show homes or visit the site office that you should notify your real estate agent so they can go with you. Why? Because a lot of builders require your agent to be registered alongside you upon your first visit so that they know you have representation. Some builders may not even allow you to use a realtor if you have started viewing homes and using the staff at the office before letting them know you intend to use your own agent down the road.
My second tip is to make sure you know what you are buying. Meaning, when you are walking through the show home chances are all the finishes and bells and whistles that are making you swoon will not come standard. One thing you will learn quickly is that every upgrade comes with a charge, and those charges add up quickly. Make sure you and your agent are clear on what finishes will be included in your new home. Speaking of upgrades…Builders don’t ever want to reduce the price of their homes as this will set the precedent for future buyers wanting the same discounted price. Instead, negotiate upgrades, closing costs or moving costs on the back end of the deal! It’s a win-win for both sides.
My third tip is to research the plans for your new community. That beautiful view you currently have may be replaced with other homes, retail stores or schools filled with screaming children all day…not everyone’s ideal backyard right? It is worth the little bit of research you will have to do to have peace of mind in where you are buying.
My fourth pro-tip is to research the builder you are using, seems obvious, but so many excited buyers overlook this step. Look at reviews, testimonials and even talk to neighbors in the neighborhood to ask about their experience. Keep in mind that their will always be negative and positive reviews, but look for reoccurring problems that are being listed by reviewers as this may raise some red flags.
My fifth and final tip is to have your agent include a property inspection in the contract. Many people assume that because a home is new it will not have any defects…This could not be further from the truth!!! New communities pop up so quickly that these homes develop issues just like any home you may buy. Common problems include plumbing leaks and Missing Fascia and caps on the roof causing indoor leaking during those rainy days. It is always a best practice to pay a inspector to walk through your new home to give reassurance that everything promised by the builder is in working order.
I hope these tips give you some confidence when entering into a contract with a new home builder. Remember, Real estate agents are meant to take the stress off of purchasing your home…so be sure to phone up your preferred realtor to make this process seamless and stress free! Enjoy Your New Home!