Did you know that purchasing a newly constructed home is a bit different than purchasing an existing home? There are some things to think about and take into consideration when you purchase a home that has recently been or in the process of being constructed.
For the most part, the actual purchasing process is the same. But the nice part with a new construction home is that you may have some say in certain aspects of the design of the home, including what type of floor is put in, etc. We would recommend that you start the process by getting a real estate agent. The real estate agent can help you to negotiate with the builder, if need-be. And the cool thing is that the builder usually pays for the commission of the real estate agent – not you! Just like buying any other home, getting pre-approved for a loan helps the process happen a bit quicker.
Next up is the fun stuff! You need to make sure you find the right builder for your home. Each builder has a different style and even builds in different areas. There are even some spec homes that are somewhat custom, so some decisions are left to you with what you want. Keep in mind that the type of home will affect how quickly the house is built, along with financing options.
Again, more fun instore! After you pick your builder you get to have a design consultation. This consultation will go over what you can customize, design-wise, and what you are unable to. If you want to customize everything, make sure you are on the same page with the builder and design consultant.
After the fun is out of the way, you have to get back to serious stuff…you need to sign a contract with the builder and also finalize your mortgage. There are different loans available for new construction homes. This is where working with a professional comes to play and is very important. They can help you with all aspects of the process!