Buying a new construction home can be exciting, intimidating, and overwhelming all at the same time. Building a home and moving in as the first owner is something that many people dream of, but only a few get to experience. New construction homes also come with a different set of guidelines for financing compared to homes with previous owners.
Are you thinking about buying a new construction home? This article discusses some of the questions to ask when buying a new construction home and why working with a trusted real estate team is the best way to build the home of your dreams and secure the right financing for your personal situation.
Why buy a new construction home?
There are plenty of reasons why you may want to buy a new construction home. First, new construction is perfect for those who want to use the latest energy-efficient appliances and reduce their environmental footprint. New construction homes are typically built with energy-efficient materials which can lead to lower utility bills and incentives for homeowners.
New construction homes may also come with a warranty from the builder. Having a warranty can give you peace of mind and financial protection in case anything goes wrong in the home for a certain amount of time after you move in. Lastly, new construction homes give the owner the ability to customize various aspects of the home, including floor plans, appliances, and finishes.
Questions to ask when buying a new construction home
Before you decide to buy a new construction home, you should be sure you know what you’re getting into. While there are plenty of benefits to buying a new construction home, there are some downsides that an experienced real estate agent will be able to point out. Here are some questions to ask your real estate agent when buying a new construction home.
What is the estimated completion date for the home?
It’s important to have a timeline for the completion of your home before you start building. Setbacks are common when building new construction homes, but you still want to get a rough idea about how long it will take to build the home upfront. Knowing this timeline also makes it easier to make plans to sell your current home. For example, if the building process of new construction takes two years, you may not want to start the selling process until closer to the date of completion.
What type of warranty does the builder offer on the home?
A warranty on a new construction home is a promise or guarantee from the builder that certain aspects of the home will be free from issues for a specified period of time. This includes a structural warranty, which covers the major structural elements of a home, and a systems warranty which covers parts of your home like the HVAC system and electrical work.
The bottom line
Do you have more questions about buying a new construction home? Contact the Kim Holland Homes Team to connect with a real estate agent who can help guide you through the new construction process.