How To Buy a New Construction Home: Tips and Reminders
The difference between buying a new construction home to that of buying a typical home is that you will be getting it from the individual or company that built it, which means that no other person has lived in it previously. Obviously, the foremost reason why you’re going for a new construction home is because you want to live in a property where everything is practically new. Therefore, you no longer will have to worry about the usual stuff in buying a used home like the presence of damaged and deteriorated areas.
But just like when you are purchasing a typical home, you need to learn what right steps to take to get the property you actually want, not something that’s based out of a huge compromise.
1 – First things first, you need to find and work with an experienced and reliable real estate agent.
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While looking for prospects, you need to double check if they are not connected or affiliated with the builder of the property you intend to buy. Although it is not illegal or prohibited, you still have to go for a buyer’s agent who is independent because that’s the only way they can best represent your interests in the negotiation table.
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2 – Learn the art of negotiations.
Unlike homeowners who sell their homes, builders are a lot more difficult to negotiate with, especially when it comes to dropping their price. The reason for this is simply because builders think they’re offering you something that doesn’t come with any notable compromise. But then again, there always is that very little room for opportunity. Even though you already a buyer’s agent representing you in the negotiation, it still is very important that you know how the negotiation works since this will allow you to provide some input of your own.
3 – Be sure every detail of the agreement is made into writing.
For many Americans, buying a house is already considered the biggest investment in their lives. As such, there’s no way you should enter into a deal to buy a house if the details, contract, and other stuff aren’t put into writing. For instance, you can’t just rely on the verbal assurance of the builder that the house is complete without first making sure about it; and when you do agree and sign the contract without mention of those parts to be completed, then you might be forced to cover the costs to finish the job. A written contract or agreement is legally binding, which means that once the builder signs it, they now carry the responsibility of fulfilling all the promises and agreements stipulated in that same portal.
Finally, don’t base your decision solely on the price, especially if you’ve come to the decision of buying the cheapest one out there in the market.