How to purchase a newly constructed home? Which factors to keep in mind?

Category: new build

new build

How to purchase a newly constructed home? Which factors to keep in mind?

  • May 18, 2021

  • 519 Views

According to the new build contractors,” You should, first of all, know that to buy a newly constructed home is completely different from buying the previous owner’s house.”

So today’s article is going to tell you all about what you should know about buying a newly constructed home.

  • Approach your broker

Be sure that you are using your broker. Also, you need to sign a bond with the broker since they tend to change their words once they feel that the client does not have any choice in regards to the purchase of the newly constructed house.

  • Do not hope for reductions

If you are hoping that the broker will help you to get the house at a reduced price, then do not hope for that. Since the reduction in the prices does not happen in 90% of the cases.

  • Try to get the upgraded facilities

This is the smartest way to pay less for the same property. Instead of asking the builder about the reductions in the prices, you can request them to provide you with a certain upgrade of the house. Like you can ask them to help you with the services of the electricians.

  • The warranties of the builder vary in all the cases

The warranties offered by all the builders are not the same. So make sure that you are clearing this point in the beginning to avoid any conflict in the future. AS far as the warranty scheme is concerned, you should be getting everything in writing. If the builder is not ready to provide you with the written warranty scheme, then he is making a fool of you.

  • You can ask for the changes

Each time the builder leaves the designing specification of certain regions of the home to the discretion of the client. The client will tell him about what he wants and accordingly the service is provided.

For example, The builder has left the work on the kitchen incomplete since he does not know what are the specifications of the clients as far as the tiling and the wooden work is concerned. Once the client tells you about the specifications, only then can you proceed.

  • Do not expect the perfection

Since it is the new house and has not considered any of your specifications. So the definition of perfection may not be the same for both of you. Do it is advised that you should not accept perfection since you will only get disappointed so matter how perfectly the house is built.

  • Be nice to foreman

If the builder is helping you with the additional construction facilities, then you are supposed to talk very nicely to the people associated with the construction. Nevertheless, they will only feel dedicated to complete your project with prediction, if you are nicely dealing with them.

Bottom Line

No doubt whether you are buying a newly constructed house or you are buying an already lived house, you need to be very patient while dealing with the builder and the second party.

contractorsnew build

What are the topmost tips to buy a new construction home of your dreams?

  • May 17, 2021

  • 637 Views

Making your dream turn into reality is another kind of satisfaction and joy. Most importantly when you see your dream home built in front of your eyes. Building a home from scratch is a whole process and for that, you need to only trust the new build contractors. If you are planning to buy a newly constructed home, then here are some of the tips which you need to consider.

  • Take help from your broker or agent

You need to make sure that you use the services of the broker or agent to get the desired services. They do their best job so that the clients get what they want. their presence also ensures that there is no conflict of interest.

  • Price reduction is rare

You should not expect price reduction and it does happen. In addition, the builders have set a fair price for their product along with a profit margin. If you try to lower the price then it is like impacting the value of other houses present in the area. In case there is a price increase then it is worth considering because something different will be there. So, make sure to consider the deal as you should think from the builder’s perspective.

  • Concessions are in the form of upgrades

Instead of asking for the price reduction, you should ask for certain upgrades like including a fence, upgraded carpeting, landscaping, or certain appliances. All these will be done without the need of charging extra from you. So, you should ask the builder about certain upgrades.

  • Interest rates are incentives

Builder incentives are in the form of interest rates. It is possible that the builders are not paying the closing cost or reducing the interest price. Builders would want you to use their builder to get the incentive benefits. So, it is better that you talk to them and research, to make the right choice.

  • Prefer the builder addendum

With the new construction homes, there is a need for the builder’s contract or addendum to make the purchase form from the agent or broker. It includes the specific terms regarding the way buildings are made and all other terms are mentioned in the same. So, it is important that when you read the contract you should read it carefully.

  • Warranties are different

Warranties of every builder are different from each other. It is better to consider for how long they have been providing their services for and warranty should be given by them. Mostly there are 10 years of warranty but it might be different from builder to builder. So, make sure that you review the contract before you sign the contract.

  • Floor plans are just the description

Do not go with the floor plan as it does not tell about what exactly the home will look like. During the entire process, different modifications are made so that it fits into the home, or the final results are what you need.