The idea of buying a new home can sometimes be quite tempting. After all, you can inherit someone else s worn-out carpets, or get to choose from some kid's initials scrawled onto moist, sometimes damp cement. You may get a house that being on line with today s trends in building and design, and also be move in ready.
However, what many people don t see is that buying new construction may be just as risky. This is because when building a new home, you are essentially starting from scratch. When you buy an existing home, you are already familiar with the condition it's in, as well as the builder of reputation. However, when buying new construction, you have to do the inspecting yourself, and more importantly - negotiate with your builder. Here are a few things you should know about investors who buy homes.
Find a real estate agent who specializes in new home construction. Call around and ask local real estate agents for a list of builders in your area. Most will have a list of at least two or three. Once you have these names, call each one and ask to talk to the builder personally. Don't be afraid to ask tough questions, such as whether or not there were any defects in the building before construction began, how long he has been building residential homes, and if there have been any major injuries or fatalities related to his work.
Talk to a real estate agent who deals with buying new construction and ask them for a list of local builders. Ask about the builder s reputation, and check out the number of complaints filed with the Better Business Bureau. You can also look for online reviews posted by past or current customers. If you're still having trouble choosing a builder, then consider hiring a contractor who specializes in remodeling older homes, as these builders are usually experienced and very skilled. Check out more details on how you can sell your home as is for all cash here.
Find a lending company that matches your budget and will work with you to make sure you get exactly what you need, when you need it. Look for a lender who has an established relationship with the builder and one who can work with you to get you the best deal possible. Some lenders will even waive closing costs or credit card fees if you agree to pay a down payment and close the deal with a down payment. It is important to know that in some states, homebuyers are not required to buy a home under a contract, but they are required to submit their financing application to the lender.
Finally, consult with a home inspector to help ensure that your builder is doing a good job. The inspector should examine the foundation and walls, roof, windows, doors, electrical wiring and other areas. In some cases, the inspector may recommend that you hire a contractor to inspect and finish any repairs on your own. Home inspectors are particularly useful if you are looking for a builder who specializes in low-maintenance construction. This will give you peace of mind as you know that the builder will be honest with you about any problems you might have during the build. Find out more about real estate here: https://en.wikipedia.org/wiki/Real_estate.
