If you’ve been following along, you know that last time around we covered a lot of the important things you should be thinking about when buying an older home. They’re great, but they can also be expensive and needy — definitely not for everybody. Today, we’re looking at buying a new construction home. Although it’s a chance to get the house you’ve long wanted, buying a brand new house can also be fraught with problems.
New Construction Homes and Their BuildersThere are no two ways about it, a new construction home can be the best decision you’ve ever made. Not only are they up to current building codes, they’re well-insulated, nothing needs to be fixed — all you have to do is move in and keep your new house clean.
There are essentially two distinct types of builder: custom and speculative.
Custom home builders wait for a person who wants a house built to come along, then they work closely with the home buyer, architects, electricians and other home pros to create your dream home. That being said, custom home builders tend to be on the upper end of your local housing market, but some also cater to people who want a smaller home.
Speculative builders (also known as production builders) build a bunch of houses and hope someone will come to buy them. These folks are generally responsible for creating whole neighborhoods out of thin air. One day, you’re driving by a field, the next week it’s a 100-lot development with 20 houses already going up. Speculative builders are nothing if not fast. You won’t necessarily get the house of your dreams unless your dreams are pretty vanilla, but you will have a home that’s new, up to code and that will keep you out of the rain. Super important, that.
New Construction Pros and ConsYou may be considering a new house, but aren’t sure you’re totally willing to wait for one to be finished. If only there were a place you could get an overview of the pros and cons of buying new. Wait, there’s a list below!
Pros of New Construction:
Owning a brand new house is a pretty sweet deal for most people. Here’s why:
Of course, a new house isn’t for everyone. There are a few drawbacks to building from the ground up, including:
The misconception when buying:
Many think because they are working with a builder, they don't need an agent for representation. Keep in mind, builder contracts are heavily skewed to the builder with little wiggle room for the buyer. A licensed Realtor is able to help you negotiate the best possible deal and make sure you're treated fairly. The builder pays the Realtor and the cost is NOT passed onto the buyer as some believe. Having your agent present during negotiation will help keep the scales balanced thought the negotiation process.
New Year, New Home?If you think a new home is for you, our EXP Team can recommend some great home builders in your area. Just visit the our home page and click "Builder Update"! You can always use our HomeKeepr app to connect with home pros like interior decorators and architects, the kind of people who will help you and your builder turn pile of lumber into a home you’ll love for a long time.
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