Looking to Buy a Newly Constructed Home? Consider These 5 Tips
With a decrease in the existing inventory of homes for sale, many home buyers have started to consider new construction homes. When buying a new construction home, there are a few extra steps.
Consider these 5 tips when buying a new construction home:
1. Hire an Inspector
Builders are required to comply with the town and city regulations, but a home inspector works for your best interests. With a new construction home, you should expect between 1 and 3 inspections. Common inspection include a foundation inspection, a pre-drywall inspection, and a final inspection.
These inspections are important in the case that the builder missed something. The inspector will find missing things, as well as make sure the builder fixes any problems. It is beneficial to attend the inspections so that you may ask any questions about your new home.
2. Look for incentives
One benefit of buying a new home is that you are able to customize your home. You are able to get the counter top you want or add a mudroom. These additions of course add up quickly, but some builders offer incentives to reduce the overall cost. Do your research and see what the builders in your area are offering.
3. Maintain open communication with your builder
Starting with the pre-construction meeting, create a line of communication. It may be a good idea to set up weekly progress updates. Ask what the preferred communication is, phone call or email. Ask how often you can visit your home site.
4. Be prepared for delays in the process
There are a number of things that can impact the progress of the building of your home. If you are building in the seasons of fall and winter, weather is a large source of delays. Here in San Diego, we don't have extreme winters with snow and ice, however rain is still a trouble maker.
Most builders put a two week buffer in their time lines, but you should keep delays in mind. If you are in the process of selling your current home, keep this in mind. Nobody wants to be homeless for a few weeks.
5. Make visits to the site
Be sure to schedule times to visit your home site with your project manager. It is recommended to see the progress of your home weekly or bi-monthly. This will help to avoid any small details from being overlooked or forgotten. Remember to take photos! This will help when you need to remember where a specific pipe is or electrical connections once they are covered by drywall.
Watching your home come from the ground up is an exciting, wonderful experience. Like all home buying, the process is not hassle free. These tips will help to alleviate some headaches.
Get together with one of our PorchLight agents to sell your current home and see what new construction is available for you!