There’s really something about buying something brand new and unused. There’s a strangely rewarding sensation that comes with being the first person to get to use something. The exact same thing can be said for a brand new home. Maybe in your next home, you’re looking for something fresh and original. You want to be able to customize your home to your exact lifestyle. You don’t want to have to deal with any additional repairs, renovations or upgrades. You just want to move in and breathe in that “new air” that no one else has ever breathed before.
Does this describe you? Then this is the article for you. Here are just a few things you need to keep in mind before you fully commit to buying a brand new build.
Make sure you really want this
While there’s nothing wrong at all with buying a “used” home, it just isn’t the option for everyone. Which is not to say that everyone should go out and buy a new build, but there are those select few who are willing to spend the extra (extra, extra) time, effort and money into customizing a home that they want to live in. Maybe you can’t deal with having to renovate an old home. You don’t want to repaint the walls the exact shade you’re looking for. Or you don’t want to throw out the previous owner’s old furniture or miscellaneous belongings. You just want to move in, unpack and live in the home as its very first residents. And, you’re willing to dish out the extra cash that comes with that privilege.
Upgrades and options galore!
One thing that really attracts home-buyers to new builds are the customization options and upgrades available. Such options can cover every part of the house, from garage space to energy savers. It’s best to set a list of your requirements for your future house even before visiting the model home. This is to ensure that you have something to come back to when deciding which upgrades you need and which ones you can live without. Best to do this before visitations because once you see it in real life, it may seem tempting to go for something you really don’t need.
Weigh the pros and cons
The pros and cons that come with purchasing a new build will vary with each situation and person. Variables at play include the builder or agent you’re working with, your values as a home buyer, and many more. However, here’s a quick list worth sparing a glance at.
-No need to DIY – When it comes to new builds, everything is, well, newly built. Brand new paint, lighting, plumbing, etc. There’s
barely anything, if any at all, that you will have to upgrade or renovate, especially with the next point coming into play.
-Customization and control – If you decide to buy early enough in the construction phase, the builder may offer to let you decide on
certain fittings and fixtures and perhaps even the layout! You get to work with the builder to construct the home of your dreams.
-Benefits and incentives – In order to make a sale, developers may line up certain bonuses that you can avail. Examples of this might
be a free upgrade, or free kitchen or bathroom appliances.
-Tech-savvy – A new house means new tech! A lot of new builds include SmartHome features that allow you to control certain parts of
your home through your phone using a mobile app. This will vary from property to property, but fundamental features include
temperature control, door and gate locks and more.
-Move in ASAP – You don’t need to wait for any previous residents to move out before you move in. As soon as the home is ready for
you, you can pack and move.
-Warranty – Now this is something new builds have that old homes definitely don’t: a warranty. Most developers offer a ten-year (or
longer!) warranty which means they are obliged to make any repairs required in the near future.
-Quality – If you purchase a home mid-construction, builders might feel the pressure to hurry the construction. Consequently, this
could mean certain oversights such as a broken doorknob, a paint stain on the carpet, a loose tile, to name a few. Small things like
that don’t seem like too much to worry about, but you’re certainly not getting the most bang for your buck that way. Which is why you
should invest in getting a professional inspector to check if the home needs any repairs before you move in.
-Waiting – If the developers don’t feel any pressure at all, then that’s a whole other problem. There might be delays in
construction which will affect the completion date and ultimately your move-in date.
-Selling again – When you buy a new build, it’s best to buy for the long term. All the benefits that come when you first buy the house
ironically go out the window as soon as you buy it, namely the “brand-new” appeal. It might be a little more difficult to sell the
home again with such benefits gone.
-Space and location – Most new homes tend to be smaller and more compact than existing houses, partly because developers nowadays have
a tendency to crowd as many houses into their land as possible in order to make a profit. Additionally, those lands may be far from
the city center. Unless that’s really what you’re going for, it could just mean a longer and more expensive commute to work or
Work with your own agent
When looking to purchase a new build, or even a traditional purchase, it’s best to work with an agent of your choosing. Having your own agent to look out for your best interests and advising you will do tremendous things for the home-buying process. Find an agent who is knowledgeable of new builds and the area. (Bonus if they’ve done deals with the developer before!)
Some model homes are customarily staffed by in-house real estate agents, but these people would have some sort of relationship with the builder and will work in their best interests. On the other hand, your own agent would have to disclose every detail of the deal to you and help you make the best one. It’s important to have them accompany you on your first few visitations.
Yes, having your own agent means a little extra expense to cover their commission, but cutting a deal without a professional is impossible and impractical and may actually cost you more in the long run.
Housing Solutions, LLC can help you with that!
Our experts can help you find the perfect new build you want and represent you during the purchase. You’ll receive counsel from us regarding structuring your offer, looking appealing to the builder and making upgrade choices. We’ll be right by your side the whole time, leading you through the process.
When making a home purchase, you’ll find yourself having to pay off the existing mortgage or any other additional bills on your current home. Housing Solutions offers some assistance by buying your home and leasing it back to you while waiting on your brand new home to be move-in ready. This is going to save you some of the extra expense.
Contact us now through our website and number or email us at email@example.com and we can help you achieve your dream home goals!