Congratulations, you’ve taken the plunge to build a new construction home! Now that you’re ready to get started it’s important to remember that even though this is an exciting time, not every builder is the same. You’ll need to do a little research to make sure you have the smoothest (and most cost effective) building experience.
Here are some money saving tips that will save you from a major headache later:
1. Use a Real Estate Agent
This is a crucial step in making sure you get the best deal on your new home! As a buyer (even when buying new construction), using a real estate agent is completely free for you. All commissions will come from the builder.
Having an experienced realtor with you when you visit the sales office could potentially save you a ton of money. They’ll help you navigate the process, decide which house upgrades will bring you the most return on investment and help you negotiate any incentives. Most of all, they will be there to make sure the contract is in your best interest – not the builder.
2. Compare. Compare. Compare.
Not all builders are created equal. This is where the most research will come into play. When deciding which builder to go with read their reviews to determine what their reputation is. You don’t want to be in the middle of building your house and discover that a builder is completely unreliable, using poor quality materials or overcharging you.
Even if a builder has a solid rating online you need to know what’s included in your new home purchase. Ask questions such as:
- What does their warranty cover?
- What appliances are included?
- What construction materials do they use?
- What are the standard features included in their homes?
When you’ve compared what each builder offers you can make a more well-rounded decision on what will get you the most for your money.
3. Don’t Fall in Love with the Model Home
We know it can be hard not to get wrapped up in all the bells and whistles of a model home. However, if you don’t want to spend thousands of dollars on upgrades, don’t fall in love with everything you see when you walk in the door. Most model homes have a mix of standard features and upgrades. To avoid disappointment, make sure you’ve been told all the standard features that will be included before visiting the model home. That way, you can see which upgrades really are the most important to you.
If you’re a little more handy, go with standard features (that are included in your base price) and upgrade them yourself after moving in. Buying and installing small features like your own lighting fixtures and cabinet pulls can save you hundreds of dollars in markups and labor costs.
4. Get a Home Inspection
Just because it’s new construction doesn’t mean there’s not going to be issues with your new home. This can help ensure that everything is up to code and the builder hasn’t made any mistakes. Your real estate agent will be able to provide you with recommendations.
5. Get it in Writing
Finally, make sure you get everything in writing. If you make any changes to the original contract you need to get it in writing. If you make additional upgrade changes, get it in writing. If the builder says they need to make a change, get it in writing. Did we mention you should get it in writing?
This will help ensure that you don’t find yourself in a costly mix-up.
Buying a new house is an important milestone and going with new construction allows you to have a bigger influence on the design of your home. Remember the tips listed above, hire an experienced real estate agent and make sure to do your research before choosing your builder.
If you’d like to discuss purchasing new construction, call Sisters Real Estate Services today at 813-695-3166.