The thought of a brand-new, up-to-date home appeals to many, and if you’re considering buying a new construction, there are few things you should know.


Following these guidelines can make your venture a little easier. 

 

 - Before you make that first visit to the model home, find a real estate agent to accompany you, and keep them involved in every aspect.  If you wait until after you’ve talked to the builder’s agent, you lose the benefit of having buyer’s representation. 

 - Hiring your own real estate professional is wise, because you’ll have someone with your interests at heart. 

 - Shop around for the best loan in advance.  If the builder’s lender has incentives and discounts, consider this if it will benefit you in the end. 

 

Some questions to ask the builder’s agent on that first meeting: 

 - Ask for info about how many lots and homes have been sold. 

 - You need to know about each home site’s size, and how close each house is to each other. 

 - What is the investors ratio allowed in the community? This will tell you the rental the number of homes that are possibly rentals.  

 - What is the projected completion date for the new construction site? 

 - If the completion date isn’t met after we have signed a contract, is there a deposit refund or a cancellation clause? 

 - How long is the home’s warranty, and what does it cover? 

 - Is a garage or deck standard or an extra cost? 

 - Is smart technology wiring included in the basic home package, and is wiring to all bedrooms an extra expense? 

 - How much input do I have on paint colors, flooring, kitchen cabinets and bathroom finishes? 

 - What appliances are included? 

 - Is there a builder’s upgrade credit? 

 - Find out the what the builder’s policy is if they run short of materials. Most builders have the right to substitute, and you don’t want to be surprised to see mosaic tile where you thought subway tile would be in your finished home. 

  - Keep in mind that the model home you are shown has all the upgrades. Don’t assume you’re getting everything in your home that the model has. For instance, shelves and the latest organizational features are in the walk-in at the model home, but all of those could be upgrades.  - -Ask about these features and write everything down as you get answers. 

 - Talk to residents who are already living in the community, and ask them about any concerns they have, and what they love about their new home. 

 - Don’t skip getting a home inspection just because it’s new construction. Humans make mistakes, and it’s better to pay extra for a home inspection to find out everything is fine than deal with something that will cost a lot in the long run. Be sure your purchase contract allows you to hire an inspector outside the building company. 

 - If the model home is one of the last homes left in the neighborhood, ask about buying it! You may not get every finish just as you’d like, but you can paint a room or change the flooring if the cost of the house with all the bells and whistles is comparable to one that’s just been finished. 

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Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins. 

 

Photo credit: realestate.usnews.com