The possibility of owning a brand new home has obvious appeal. Many new home buyers who buy in a new construction have the option of getting the home customized, thus, making the property even more desirable.
Additionally, with a new home, you do not have to worry about all the problems that come with older homes, right?
Not really. In reality, there are a lot of things you need to be aware of when buying a new home.
For this reason, we brought you here the most important questions to ask when buying in a new construction.
1-Who is building the new construction and what is their reputation?
The abilities and experience of the building company will have a significant impact on the quality of the final product.
You are spending a lot of money, so you deserve a well-built home. Ask around and talk to several different recent buyers, ask them how happy they are with the company.
Understanding the building company’s reputation is one of the most important factors before committing to them.
Try using Google. Search both the company and their projects.
You should be looking for any negative reviews or other news that may influence your decision.
It can be helpful to visit homes they are currently building to see the process they use. At the very least, you should take a look at homes they have already completed to see what the final product looks like.
2-Who will oversee the construction of my home and who can answer my questions once the building starts?
Just because the company is good does not mean the employees working on your home will be equally capable.
There is nothing wrong with asking a few questions about who will be in charge of the building of your home.
You also want to get his or her contact information so you can ask questions when you need to.
If the building company is a large one, they will have someone overseeing the day to day operation of their building projects.
3-What are the standard features in the homes and what are the extras?
Every company includes a set of standard features in each home built while offering extras that cost more.
You want to find out what is standard and what is extra. The scope of what is included and what is not is one of the most important questions to ask when buying in a new construction.
They should have a detailed “specifications” sheet that details everything that comes standard with your new home.
Often times they will also have a pre-determined upgrades list that allows you to pick and choose what you would like added to the home and at what cost.
When you tour a development’s model home, keep in mind that you are previewing a high-end version of the standard home.
One way to cut costs: Move into the home without an upgrade, then hire a contractor to do the work. Building companies charge a huge markup on certain finishes and products.
4-What are your long-term plans for the community?
Depending on the size of the land, the company might be planning several subdivisions. This could impact your decision to buy.
For example, assume that a few homes have been built and sold and the developer plans to construct an additional 50 homes.
If you are one of the first people to move into the neighborhood, you may have to deal with loud construction crews for several months.
5-How long will my home take to build and what happens if you do not make the date?
The company should have a good idea of how long it will take to build your home, and be willing to explain what will happen if that date is not met.
As the buyer, you will need to be somewhat flexible; no one knows exactly what the weather will do in the months ahead. But still you have the right to a clear estimate.
The company’s policy on completion date is one of the most important questions you can ask when buying in a new construction.
You want to have a strong grasp of how closing date issues will work especially if you are selling your current home.
Missing delivery times is one of the biggest complaints against building companies.
The good news is: if the company does not deliver on time you will be able to find out. Their reputation will already be suffering for it.