There are several reasons why a home buyer prefers a newly constructed home over one with a bit of history. New homes are typically eco-friendly and are built using sustainable materials with energy-efficiency in mind. A new house is a clean slate just waiting for your decorative touches and the creation of your memories. New houses have modern features that aren’t in need of upgrades. It’s reasonable to desire a newly constructed home for these reasons, but you should take care to avoid making costly mistakes.
Tip 1 – New Developments
Beware of communities that are still in the development stages. Buying a new home within a half-finished development can be a gamble. You never know if the development will have delays or end up not being completed. You don’t want to be stuck with a house that is difficult to sell in an unfinished neighborhood. Of course, you may find that the deal you’re getting by signing on at the beginning of the development is appealing enough to take your chances.
Tip 2 – Model Homes
You’ve just walked through a model home that put stars in your eyes. Everything was perfectly decorated and every single feature was top of the line. Keep in mind that your house may not look like the model home. The model home is staged to make it look extremely appealing to buyers. All the upgrades are included in the model, and extra care is taken to make the spaces look larger than they are by doing things like removing doors.
Tip 3 -Upgrades
Speaking of model home upgrades, you’ll want to be careful that you don’t go overboard when choosing upgrades for your home. Being able to make such choices is one of the benefits of buying a newly constructed house, but you want to keep your balance when choosing or you may end up breaking the budget.
Tip 4 – Completion Clause
While patience is needed during the home buying process, you don’t want to end up waiting an extreme amount of time for your house to be completed. Make sure your contract has a completion clause that states clearly when the house will be finished. It’s also a good idea to have a refund-of-deposit clause or a cancellation clause that allows you to walk away from the sale without losing money in the event that it isn’t completed by the specified date.
Tip 5 – Neighborhood Planning
If you’re buying a newly constructed house, the chance is high that it’s located within a new area that allows you to choose your lot or location. Be familiar with the neighborhood planning before making your choice. Consider the proximity of other houses and community amenities.
Tip 6 – Know the Neighbors
If there are already homes in the area, take some time to visit with the neighbors. Learn more about the neighborhood and the general atmosphere of the community. Ask about their positive and negative experiences. Be open to their advice on moving into the area.
Tip 7 – Home Inspection
Just because the house is brand new, don’t make the mistake of ignoring the need for a home inspection. New construction doesn’t automatically mean free of mistakes or without need of repair. Cover your investment and get the inspection. Neglecting the inspection process can cost you thousands of dollars down the road.
This information is provided courtesy of The Eastside Real Estate Team. Keep us in mind for all your real estate needs. Call us today at 425-200-4093.