What to Know Before Buying New Construction
So you've finally found the location and neighborhood that is PERFECT for your family to call home. The only issue? There isn't a finished home to be found. No problem! Turn that hangup into a “Heck ya!” with a few key questions to ask before siging on for a newly built home:
- Is the lot price included? If it is, ask which lots come with the highest price tag so you can choose the one that’s right for your budget. If it isn’t included, you’ll need to add that expense to the overall cost of your home.
- Is there a home warranty? What is covered and for how long? A reputable builder should stand behind their work and warranty your home for at least the first few years.
- What's the timeline? While there are no guarantees and the process is prone to delays, you should be able to get a general idea of how long construction will take. On average. it takes seven to eight months to build a home.
- What comes standard and what is an upgrade? This is where many buyers get into trouble. What they assume is standard...isn't. Ask what finishes and appliances are included in the home’s base price and take detailed notes. As much as possible, tour the model home and have the sales rep point out standard vs. upgraded finishes (at the very least, they should have catalogs and samples for you to look at).
- What about landscaping? Some builders include landscaping, while others leave the yard totally up to you. Get details about what's included and what's extra and, again, seek out a model. Considering it can cost anywhere from $3,000 to $15,000 for "from scratch" landscaping, you will definitely want to leave a little space in your budget.
Whether you buy an existing home or new construction, it’s always a good idea to have a realtor on your team asking any questions you may overlook. Know someone looking to buy or thinking of it yourself? We are ready to help.