Tips For Buying A Brand New House

Purchasing a new home can impose numerous uncertainties on buyers

, especially first-time homebuyers. A surplus in home availability means new construction has become more competitive, with contractors offering various incentives to buy. However, these incentives, offers and promotions often add to buyer confusion, sometimes creating more questions than answers. Following are 5 tips to help homebuyers make a responsible purchase of a brand new home.

1.Do your research.

How reputable is the builder? Find out as much as you can about the contractor before signing the dotted line. Do not be afraid to ask residents of the neighborhood about their experiences with the builder. Putting a little time into learning about the builder allows you to purchase a newly built home in confidence. You can even go to older neighborhoods to talk to residents of homes that the builder previously developed.

2.Take time to plan.

If you are planning to buy a new home, make sure it is what you want. Many homebuyers tour the model home of a development and are filled with excitement. It is important to consider all of the options, from floor plans to the Jacuzzi tub in the master suite.

3.What is the budget?

The new construction industry lures homebuyers in with jaw-dropping prices; understand that these prices are commonly the base price for, literally, the bare essentials. Like buying a car, there are various options that you can add on to your new purchase for additional fees. However, unlike buying a car, the added amenities can increase the cost of the home dramatically. Determine your budget, and stick to it.

4.Dont buy a lemon.

There are pros and cons to getting into a new development early. Obviously, the notion of first come, first serve parallels the opportunities for early buyers to select a lot within the development before anyone else. However, being among the first few buyers of a new neighborhood does not guarantee that the rest of the development will ultimately fill out. A lemon development is when only a few houses are purchased, leaving many vacant, unattractive lots. Use discretion when being among the first to buy in a new housing development.

5.Going green is good.

There is no reason that a new home cannot be built with the environment in mind. Newly built, energy efficient housing is becoming increasingly more affordable, and homebuyers can take advantage of the long-term financial gain. Although there may be more upfront costs for insulated basement walls, energy efficient appliances and other green amenities, the amounting financial benefits can outweigh any initial price tags.

Building a new home can be an ambiguous journey for some buyers, especially first-time homebuyers. A saturated real estate market has forced builders to offer incentives for new construction. However, individuals on the search for a new home should do their homework before signing the dotted line. From sticking to the original budget to considering environmentally-friendly options, new construction homebuyers need to do their research on all aspects of buying a new home.

by: Sharp

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