Buying a newly constructed house or pre-construction house is really exciting and enticing that most of the people are willing to just jump into signing the contract right away. Doing this will mostly lead to disappointments, unexpected and unanticipated costs, worst may lead to termination of the agreement and legal issues. So if you are a buyer looking to buy a newly constructed house or pre-construction house, do yourself favor and read the following tips and to dos before you sign the agreement for you dream house.
Get a Real Estate Agent
– hire a Real Estate professional who has experience in new construction properties and has no ties to the builder/seller. You need this person to represent you and your best interest as buyer throughout the transaction. This agent will help you draft the best offer you can give the builder/seller; legal confidante and helps you understand the clauses, fine prints and everything on the contract to ensure that all your rights as buyer are well taken care of.
Research
– About the builder, the surrounding area and neighborhood. Research on testimonials, feedback online about the builder/seller, at least you have a pretty good idea on how they take care of their customers, bear in mind that you will get feedback from customers, so it will be a mix of satisfied and unsatisfied customers. For you to be able to use them wisely, any concerns or not so good feedback, make sure cover it on your purchase agreement. About the surrounding area and neighborhood, you may want to know any planned development on the surrounding area, any traffic planning, development of neighborhood parcel, new establishments, etc.
Everything should be in writing
– make sure that everything you have talked about and agreed upon are in writing. Don’t sign the contract immediately, make sure you read all the fine prints, clauses, ask for your agent’s help in making sure that all the agreements, concessions, contingencies, dates, timelines are clearly stated on the contract to ensure that you will not have any issues throughout and after the sales transaction. It is better to be sure than sorry.
Know what is included and what isn’t
– Most of the finished homes or model houses looks picture perfect and it definitely adds to the excitement of the buyer quickly jump into the deal. Just always have in mind that what you see there doesn’t mean that’s what you are going to get when you get the deal since model houses are a mix of standard materials and fixtures as well as upgrades and add-ons so don’t get too excited to sign the deal and be disappointed later on. Ask the builder what are the things included on the deal, the standard inclusions as well as the upgrades and add-ons so if you really want your home to be just like that, and you will not be surprise of the additional costs.
Also for home warranty, make sure you have a very clear agreement and understanding on what is covered and what isn’t, time of coverage and who to contact once you need assistance on the warranty. It is better to know and be fully aware of all these now for your own protection.
Get a Home Inspection
– Not because it is a newly constructed house, means it doesn’t need a home inspection. Remember you and your family will be living inside this house so you need to have the peace of mind that everything will be safe for you and your family not just now but in the long run. Hire a professional who will be able to inspect the house, the quality of materials used as well as check for potential future issues, at least as early as now, you may need to request for repairs if need be.
Doing the list above just saved you a lot of future headaches and money. Just like in everything else in life, don’t be overly excited to do things that you overlook the details, make sure that you think about it, plan head and always make sure that it is worth your time and effort. It is not just another investment, or project it is your home that we are talking about so you may want to get your hard earned money’s worth. I believe you are now equipped and ready to get into the deal for your new home! 🙂
A Slice of Heaven 