Purchasing A New Construction Home

 By: Leeanne Kunnert
Building a home from the ground up can be very exciting. New construction allows you to make every choice and decision that involves your new home from flooring materials to the backsplash tiles. It can be slightly overwhelming so it is important not to get too caught up in the little decisions and that you focus on what is really important in the new home construction process.

In new construction it is important to make sure that the home is inspected every step of the way. You as the home owner will want to follow up with the builder on how any issues with the inspection process will be remedied. When looking to buy a new construction home to avoid issues with your new home down the road.

Research buying new construction how you would research any major purchase. Ensure that the developer and builder are in good standing with the state and local builder's guilds. You do not want to work with a contractor or developers that have pending complaints or judgments. Ask about independent subcontractors they hire to work on your home. Take time to verify all licenses and construction bonds as well. Know the amount of insurance they carry along with the amount they are bonded for.

It is important to hire a real estate agent when building a new home. Don't assume that the in house sales agent will assist you and guide you through the process. Those sales agents work on behalf of the seller of the new construction homes. They represent the developer's best interests not the home buyer. This is where is pays to have a real estate agent working on your behalf.

Check the fine print throughout purchase contracts as they differ greatly from states to state. Real estate documentation differs. Have a real estate attorney review any and all documentation before you sign it. A builder's contract usually represents the builder and contractor, not the buyer. You will want to make sure that addendums can be added to keep you protected during the phases of building and purchasing your new construction home. Have an understanding of what is covered under the builder's warranties and what is not.

Don't assume anything is included. Many model homes within new construction homes are built with all the bells and whistles. Avoid making the mistakes that many people viewing the model do. Assume that the cost of the home includes nothing. Ask for a detailed list of what the model home includes that is not included in the price of the basic new construction home you are purchasing. Model units often include high end lighting features, upgraded trim, architectural detailing and upgraded appliances. These all make the unit more attractive to buyers. Even the height of the doors and ceiling should be in writing as the model often has these enhanced features.

A home inspection is recommended even when purchasing a new construction home. Mistakes can be made by contractors and it is important to ensure the home is in proper order before it is yours. Not all new construction homes offer warranties or guarantees on the work that is done. Inspections should be done throughout the home by an independent inspector to ensure the home is up to code throughout.

Before you close on your newly constructed home you should walk through the space with the builder. During this time you can point out defects in the home that were established in the contract and that need to be repaired before the closing. Never close on a newly constructed home without this final walk through. Once you have closed and signed the official documentation the home is officially yours and the builder is off the hook for any and all fixes that were included in the original contract.
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