02/12/2017
What you should know before buying a new home.
So, you are ready to throw your hard-earned money into a new home project. This is what you should know before investing in a new home.
The process of developing new subdivisions as a unified building concept is now more prevalent than ever. In regions all around the country, new home builders are creating entire communities from scratch, building in a way to create a unified residential area and the profits that go along with that. If you are one of the millions of potential home owners thinking about buying a new home, keep in mind some key facts as you go through the process.
Real Estate Agents Matter
Some think that buying a fresh home fr om a builder does not require a real estate agent, but there are some great reasons to include one in your transaction. At the very heart of the hammer is the experience a real estate agent has with the contracts you will be asked to sign and the negotiating process you will be asked to go through as you consider purchasing a new construction piece of real estate.
As a way of protecting yourself, having a real estate agent as a part of your purchase process will give you a more professional face in front of a builder/developer and will reduce your stress level as you go through what can be a very complicated process. Additionally, if you choose a real estate agent with experience in new construction homes, you can perhaps benefit from established relationships your agent might have with individual builders to get you a better deal on your new home.
Don’t Doubt The Value Of An Inspection
For some reason, home buyers sometimes think that if a home is brand new, it doesn’t require an inspection. You wouldn’t buy a car without test driving it first, so simply buying a home blindly on the good faith of the builder is certainly a risky move. Yes, you will receive a warranty on your home but as any home owner knows after going through the warranty process, that is not always a great benefit and can often be an immense hassle.
Simply put, you want to start out with the best possible home, keeping you from headaches down the road when things need to be fixed or replaced. In fact, a good inspector can turn up problems with your property that most likely would not show up to a typical home owner until well after the warranty has expired. Invest in an inspection and you can save yourself some problems down the road.
Know Your Builder
Most every major builder has a reputation and they have that reputation for a reason. Not all builders are the same and doing some research into the track record of the company you’re considering for a home purchase will help you as you make your ultimate decision. You real estate agent can be a great resource in this step, particularly if your agent has experience in dealing with new home construction deals.
Keep in mind that your builder holds the key to a lot of the economic future of your property. Does your builder make a practice of building low value homes around a few upscale areas? That can drive down the price of your home should you ever want to sell it. These things can be tough to turn up, but simply delving into the established history of your potential builder can turn up things to make your decision to buy or not to buy much easier.
It should go without saying, but buying a home, no matter if it is brand new or not, is not like going to the store to pick out a head of lettuce. Even new homes need to be researched fully and inspected to make sure that you are investing your hard earned money in a product that is solid and will maintain value over time. Your real estate agent can be a great resource for this type of research but no matter how you accomplish it, make sure you do your homework on any home purchase, even a brand new construction.
Credits : Lekan Olofinji.
