What To Avoid When Buying New Construction
What To Avoid When Buying New Construction – Buyers can’t help but dream of a brand-new home. It is a popular desire to design your very own place. Brand new homes can offer so much and especially the energy efficiency so many desire in today’s world. You may think that buying a new construction offers you the best possible home with no issues, but that may not be the case There are some important things you want to avoid when you are buying a new construction.
What To Avoid When Buying New Construction
Negotiations
Don’t assume that you can negotiate with the builder. Builders will actually negotiate on the price, but you have to be ready to negotiate with them. There are a lot of different fees that can be negotiated and if you are working with an agent who is knowledgeable on new construction, they can help give you confidence as you navigate the negotiation part of the contract.
Items Not Included
A new construction home is a blank slate, but that doesn’t mean they include everything. Oftentimes new homes do not come with landscaped yards. This can be a costly expense after you move in so you need to factor in all of the items that are not included in your new construction. Make sure you read through all of your HOA rules very carefully so that you can anticipate and budget for expenses that show up regarding your association too.
Lender
A lot of builders have an in-house mortgage lender that they prefer to work with however, you have the choice to work with whomever you would like. You should take time to shop around for the best rate possible. Take your time and compare what different lenders can do for you.
Warranties & Timelines
When you buy a new construction there are different builder warranties that you typically get. There are implied and express warranties. The implied warranty will cover potential defects or issues with the new home. Anything that impacts the livability of the home. Some builders will offer you an express warranty that will cover specific things and have cutoff times regarding the warranty. You want to make sure you have these in place.
Avoid Upgrades
One of the biggest mistakes is opting for as much customization as you can and going beyond your budget. There are a lot of options and they can seem limitless when you are in the builder’s showroom. Make sure that you consider the entire project and your budget before you start selecting upgrades. In some cases, there is a difference between the builder’s upgrade and hiring an outside contractor to do the work after you have moved in.
Skipping the Home Inspection
Skipping a home inspection when buying a new construction home can be a costly mistake. While it may seem unnecessary to inspect a new home, it’s important to remember that even new homes can have defects and issues that may not be immediately apparent. Here are some reasons why getting a home inspection is crucial when buying a new construction:
- Identifying construction defects: A home inspector can identify any construction defects or issues that may have been overlooked during the building process. This could include things like faulty wiring, plumbing issues, or structural defects.
- Ensuring code compliance: Building codes and standards are constantly evolving, and it’s important to ensure that your new home is up to code. A home inspector can verify that the home meets all local building codes and regulations.
- Finding hidden problems: Some issues may not be immediately apparent to the untrained eye, but a home inspector can identify potential problems that could cause headaches down the line. For example, a home inspector may detect mold or water damage that could lead to costly repairs in the future.
- Negotiating repairs: If the home inspection does uncover any issues or defects, you may be able to negotiate repairs or a lower purchase price with the builder. This could save you money and ensure that any issues are addressed before you move in.
In Conclusion
A new construction home can offer you a lot of benefits, but there are plenty of issues that can arise if you don’t pay close attention every step of the way. This is why it is so important to work with an experienced agent. For more information on new construction or to buy, sell, or invest in the Snohomish area, contact us!
More Tips for Those Buying New Construction
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10 Ways Homeowners ‘Trick’ Home Buyers in the Inspection
