Tips for Buying New Construction Homes
In the United States, new homes are an important pillar of the US economy. The number of new houses sold increased to 822,000 in 2020 and 770,000 in 2021.
When looking to buy a home, you may want to consider a home inspection. Some homes might contain toxins such as asbestos in the walls, floorings, and moldings. You want to be aware of what goes into building a new home, so ask questions. No question should be considered bad, as you want to make sure that your home does not have asbestos issues as we understand it.
Mesothelioma to our understanding, is a type of cancer that could come from homes that have asbestos. So getting an in depth home inspection might be a good idea.
What are some tips for buying a new construction home?
General Tips for Buying a New Construction Home
When looking to buy a newly constructed home, you may want to consider the following tips:
Research online or check the home builders’ association in your area to find the right builder that meets your overall wants and needs.
You can also read your local paper’s new homes section on the real estate pages. The listings might include the home and builder information. Use these details to:
Consider a neighborhood with several new homes for sale: You can drive by and perform an initial inspection to see the style and quality of the house you like best.
Check the builder’s websites and social media pages: These sites let you potentially find the builder’s information and photos of their planned and constructed homes.
If you’re looking for a newly constructed smart home with remote-controlled lighting, heating, and appliances, consider searching for a builder that has constructed similar homes in the past, as you may be able to see reviews on the previously built homes.
Research builders on the internet: Doing this lets you find public records, business reviews, and Better Business Bureau (BBB) feedback about your builder of choice.
Consider Looking for a Real Estate Agent and a Suitable Lender
What makes buying a new construction home similar to almost any home purchase is that you need a team who understands your interests and assists you in finding the right house for your needs and budget.
Take time to research and interview a real estate agent, then hire them if you believe they fit your needs.
Additionally, apply for a mortgage to determine which deal suits you.
Some builders have in-house lenders or work with preferred real estate agents. So it’s common for the builder to suggest agents or lenders to the buyer. However, you can also pick us as the broker of choice, as why would you let the builder control the whole deal?
Make a Realistic Budget and Try Not to Spend Too Much
When picking a customized home, it can be easy to go over the budget, whether you realize it or not.
So consider taking one customization option at a time to keep your budget manageable.
After determining your preferred customization level, understand the costs of customization, like what features have a standard price and what features cost extra, and put them in writing.
When looking into how much you can afford, be realistic with your budget and consider the costs that you can easily overlook, such as:
Landscaping: You may need to fix or improve your lawn after building the house.
Furnishings: Builders may be able to install home furnishings but may miss a few such as couches, beds and show curtains. Make sure you have a budget for these furnishings.
Homeowner’s association: Some neighborhoods require you to pay a monthly homeowner’s association fee. Homeowners’ associations can also require you to comply with property standards and may be able to increase your home costs.
Consider Doing a Home Inspection
When buying a new construction home, consider performing at least two inspections: one before the walls are closed and one after they’re up.
During the first inspection, you can address any plumbing or electrical issues before the builder installs all the walls.
On the second inspection, you can walk around with the builder so that they can offer maintenance tips or anything else you need to know about your new home.
Home inspections also allow you to check whether there are potentially risky materials in and around your new home.
For example, if there’s anything in the walls or flooring, consider replacing the material or get advice.
To know more about asbestos toxic or if you need expert advice about dealing with asbestos in your new home, call the Agency for Toxic Substances and Disease Registry. You can also contact the U.S. Environmental Protection Agency.