Things to Know Before Buying a New Construction Home

Buying a home, whether new or existing, is a big decision. Many people are attracted to new homes because of the clean slate they provide for personal style and the lack of maintenance issues. However, before you rush to visit your local model homes, it’s essential to educate yourself on the differences between buying new and existing homes. In this article, we’ll discuss some essential things to know before buying a new home.

The Greeter at the Model Home

When you walk into the builder’s on-site office, the person who greets you is not an official greeter but the builder’s real estate agent. The agent’s job is to get you excited about the project, tour the model homes, and persuade you to purchase one. During the time you spend with the agent, you may be pressured to use their services to purchase the home.

A word of caution: don’t do it. Although it may seem more convenient, the agent’s primary obligation is to the builder, not you. Therefore, take the time to secure the services of your own real estate agent before viewing homes in the new development. Once the on-site agent sees that you’re working with another agent, the pressure will be off to sign with them.

The In-House Lender

Many new home developments have an in-house or “preferred” lender, and you may be pressured to use this lender. However, you have every right to secure your lending independent of the builder. It’s crucial to shop around and ask for a Loan Estimate from the builder’s lender. This form lists all the fees and costs of the loan being offered, making it easier to compare offers from multiple lenders. If you have any questions when comparing Loan Estimates, ask your real estate agent or attorney for help.

The New Construction Builder

Builders and subcontractors frequently take shortcuts, causing new homes to have nightmare conditions that buyers hope to avoid. Before buying a new home, take some time to check the builder’s reputation. Start your research by checking the builder’s status with your local Better Business Bureau. Also, check public records at your county courthouse for lawsuits against the builder. The National Association of Realtors suggests walking around the development if there are homeowners living there, knocking on some doors, and asking if they’ve experienced any problems with the new home. Finally, have a professional inspect the home to ensure it’s problem-free.

Buying New Construction FAQs

Is it better to buy a new or existing home?

Both new and existing homes have their pros and cons. New homes are clean, modern, and customizable but often come with a higher price tag. Existing homes are typically cheaper, have more character, and are located in established neighborhoods. Ultimately, the decision should be based on your preferences and budget.

Is it necessary to have a real estate agent when buying a new home?

It’s not necessary, but it’s highly recommended. A real estate agent can help you navigate the home buying process, negotiate with the builder, and ensure you get the best deal possible.

Can I negotiate with the builder for a better price?

Yes, you can. Builders are often willing to negotiate on price, especially if the market is slow or if they have several homes sitting unsold.

How long does it take to build a new home?

The length of time it takes to build a new home depends on several factors, including the size of the home, the location, and the weather. However, on average, it takes six to eight months to build a new home.

What is a punch list?

A punch list is a list of items that need to be fixed or completed before the final walk-through of a new home. It usually includes minor issues such as touch-up painting or missing hardware.

In this video, 🎬 we are going to share 4 important tips with you that will help you successfully buy a new construction home in Florida. Along the way, we’ll answer all the common questions associated with buying a new construction home, so you can have the best possible experience and have a successful outcome. If you’re looking to buy a home in Florida, especially on the Treasure Coast, then be sure to watch this video, it will make a huge difference in making it work for you!

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I am Maria Wells, Broker/Owner of Lifestyle Realty Group. Located on the Treasure Coast of Florida, I am your neighborhood expert in Stuart, Jensen Beach, Palm City, Hobe Sound, Sewalls Point, Hutchinson Island, and more.  With six real estate designations, I bring you knowledge and insights beyond the average Realtor.  I will listen to what you are asking, read between the lines, and give you the information you may not know to ask. 

As the 2017 elected State President of Florida Realtors, the largest state trade organization in the US serving over 180,000 members, and, in 201,9 elected Region 5 Vice President for the National Association of Realtors, I convey tremendous experience and knowledge to handle the complexities of real estate to be your strong advocate. My Concierge philosophy and resources will provide you with personalized attention and service!  As a persuasive negotiator, I will get you to the closing table, manage all the details for a worry-free transaction, and be a resource for all your real estate needs for years to come.

If you are looking for my “Selling Senior Style” services, I have worked with hundreds of families to solve all of the issues regarding personal and real property for seniors and their families.  My designation Senior Real Estate Specialist (SRES,) will give you tremendous value if you are on this life journey.

I live in Jensen Beach, Florida with my husband, where we raise Orchids 🌸, polish up our Harleys 🏍 , and enjoy our grown children and one adorable grandson.👶🏻 🍼.  Photos 🎥 by Dragonfly Aerials – dragonflyaerials.pics  

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