Mistakes to Avoid When Purchasing New Construction

New construction offers opportunities for customization and the chance to make your home your own. In a brand new home, you don’t have to worry about dated appliances, stained carpets, or poor insulation. 

But the process of buying a new home can be a little different than a previously owned home, and it’s important to understand the process before jumping in. 

Here are 5 mistakes to avoid when it comes to new construction: 

1. Not hiring a buyer’s agent to represent you

Most new construction communities are managed by a builder or developer and will have an agent on site to answer any questions you may have. Kind and helpful as they may be, these agents ultimately represent their builder and not you. That is why it is so important to hire your own buyer’s agent and make sure they accompany you on community visits and home tours. 

A buyer’s agent who is familiar with the process of buying new construction will be able to effectively represent you before, during and after the transaction. 

2. Not researching communities ahead of time

It is easy to fall in love with a floorplan, but be sure to do your research on the local community before saying yes to a lot and a plan. New home communities often represent areas of fast growth and development; your community may look very different by the time you finish building your home! 

Research and discuss various aspects of the areas you’re looking at with your realtor such as business proposals and city plans so you can understand the area better and decide if it is a good fit for your family.

3. Not properly prioritizing costs

One of the benefits of new builds is the almost limitless customization available to you. But upgrades can quickly add up for new home buyers, so it is important to prioritize your needs and wants, factoring in your area and the value of your new home. A realtor experienced with new construction can help you determine which upgrades will suit your needs and positively impact your home value.

4. Skipping the home inspection

You may only associate home inspections with older homes and their potential for leaks, cracks, and roof damage, but home inspections are for new builds as well. 

Even with the most thoroughly built home, mistakes  can happen. A home inspection may help you identify things the builder has forgotten to do or improperly installed. Additionally, a great inspector may b e able to point out potential problems down the road and help you establish a game plan. 

Set up your home inspection once your home is complete but before your final walk through with your builder. Your realtor can do this for you and represent you through any subsequent negotiations. 

5. Not reading the fine print

When purchasing a new build, it is important to understand what is included and what is not. Make sure you talk with your realtor during the signing process so you understand everything that is included in your purchase price and what will be extra. This will be especially important as you consider the upgrades we talked about previously.