There is a HUGE difference between buying a pre-owned home from one that’s newly-constructed. Choosing to have your home custom built allows you to have full creative control over your home’s features, from the colors of the walls to the finishes and other features especially during the early stages of construction. With careful planning, you can have a house that meets your needs perfectly; one you can truly consider your “dream home.”
However, as with buying previously-owned homes, there are a number of things you should keep in mind. Here are a few tips that can help you through the process of buying a newly-constructed home, whether it’s built from spec or custom built.
- Get your finances in order, have a budget, and stick to it. It’s important to make sure you know what you can afford and how much you’re willing to invest, especially since new construction tends to be more expensive than resale homes.
- Take a close look at its location. There’s a chance your house will be located far from the city’s center, which is usually the case with new homes. Take this into consideration when looking at brand new homes located in newer developments.
- When it comes to new subdivisions, houses tend to be built in close proximity to each other. There’s a possibility your house will be located close to other homes, decreasing the level of privacy, so make sure you’re fine with that.
- After your new home is built, hire an inspector to look around the house. Just because it’s brand new doesn’t mean it won’t have any potential problems or defects. If you do find anything, you can cite those problems during the negotiating stage.
- Make sure your home is covered by warranty! Each newly-constructed home has a builder’s warranty that covers any major defects in craftsmanship or structural integrity. Warranties usually last up to 10 years. Examine it closely, review the specifics of what it covers, and make sure the terms are agreeable to you.