You can get a brand new residence in one of three ways: purchasing a house already built on spec; having a semi custom residence constructed within a development (it is possible to select from a set palette of finishes and upgrades); or having a strictly custom home designed and constructed to your specifications.
But don’t get so involved in granite countertops and the sparkling new paint that you forget about everything else. Below are some attributes that might answer your question – New Homes… Build Or Buy?
The Advantages and Disadvantages
New houses are usually built within the city, will you mind the commute? Are you really ready to landscape a bare yard and wait for your saplings to grow? Will the cookie cutter nature of subdivisions drive you bonkers? New houses are usually constructed right along each other. Would you mind the intimacy and lack of solitude?
Assess the New Area
Seek advice about prospective homeowners’ association (HOA) fees and rules. Some are very pricey——and strict. They might not permit specific paint colors, storage sheds or solar power systems. Some even prevent vegetable gardens. Make sure you discover whether the HOA can charge you a penalty for having these things.
In the event the development continues to be under construction, you’ll be dodging giant contractor trucks and confronting jackhammering in the morning. Inquire whether Internet and cable are easily obtainable and from what businesses. Your new house is going to be wired for cable but that will not mean the cable company offers service to your new neighborhood.
Don’t forget the real estate representatives. They’re attempting to reach their quota, not necessarily to assist you in choosing your family’s perfect choice. Many states control how brokers cope with new subdivisions. For those who have a personal broker, tell him up front that you’re interested in looking at houses that are new.
Get the Skinny On Your Own Contractor
Ensure there are not any Better Business Bureau complaints on file against your contractor’s business. In the event the contractor has an excellent standing locally, request to check out the new places.
Since they’re able to get parts and labor comparatively cheaply, contractors rake in the cash on upgrades.
Get An Inspection
Never presume that because a house is newly built that it isn’t going to possess flaws. Make your sales contract contingent on a final review with an expert you hire.
Understand that municipal reviews for code violations are nowhere near as thorough as an independent professional review is.
Shield Yourself with Guarantees
All new houses have an implied warranty in the contract stipulating that any important flaw of the structural integrity of the property has to be fixed.
Make sure any guarantee you get expressly says what is and what is not insured, and exactly what the limits for damages are. For additional peace of mind (which is always suggested), whip out your property lawyer again and have her look at the guarantee to ensure it’s fair and honest. And follow their advice if they say otherwise.