When it comes to searching for a home to buy, it’s not uncommon to come up empty-handed. Whether the houses you want are out of your budget, or you just not at all finding what you want- many people turn to building a house as a good (if not better) option. In this blog, we’re going to go over some things to understand before diving head first.
The Difference Between Building vs. Buying
Although the end goal is the same, to have a home, the process is entirely different. Here are a few fundamental differences to keep in mind:
- Instead of looking for houses, you’re looking for lots or pieces of land to build the house on.
- For picking a floor plan and house, you typically work with the builders directly.
- Choices, so many beautiful options. Your home will be uniquely you.
- The process is a lot longer than buying a house already built, but often very worth it.
The feeling of being the first owner of a home is like no other. It can be easy to allow the appearance of a beautiful, newly constructed home to capture your heart. Aside from the jetted bathtub and elegant backsplash contrasting with the marble countertops, however, are you truly ready?
Are You Prepared to Build a House?
There are many things to consider when you’re deciding if you’re building a house ot not. And all these variables come to down if you’re prepared for what it takes.
- Are you ready for the time it takes to have finished landscaping? Many new homes don’t have that completed until months after move-in.
- New homes may be built on the outskirts of town. Can you handle the commute?
- Builders seem to be building houses closer together than ever before, do you mind the lack of privacy?
It’s important to do your research, and weigh out the pros and cons of every decision – especially one with a price tag that hefty.
Understand Standard and Extra Features
One of the most appealing things about new construction is being able to customize the home by choosing all the features. Even standard features have options (types of faucets, floors, etc.).
In addition to the standard features, there are add-ons or “extra” features. It’s important to know which are standard or add-ons because the add-ons do cost more whereas the standard features do not. Ask the builder about any amenities and upgrades included with the purchase.
A good tip is to try to make any changes to the home you’re interested in early in the process. Every switch costs money.
Understand the Neighborhoods
Before committing to a plot of land, do your research on the neighborhood and the builder of the house. Comparatively, when you purchase a home that has stood for years, you research the community and history of the property.
Most recently constructed homes are built in neighborhoods called subdivisions. They are all usually produced by the same contractor. You’re going to want to do some research about that builder to make sure you’re not moving into a home that’s not up to code or is in a neighborhood that doesn’t satisfy your needs.
To research, neighborhoods go to open houses, drive around at different times of the day, and look online for recently constructed homes. View amenities and quality features of the houses you find. Look into what zoning laws are in place for the neighborhood and what homeowners’ association fees exist, if any.
Understand the Builders Work History
When researching builders, make sure they have good reviews and no complaints from the Better Business Bureau. Ask your local Home Builders Association about the builder’s reputation within the community. Pay a visit to the previously built homes of the constructor and ask the owners how the home has held up and if they would recommend houses that the builder made.
There are a few great websites where previous clients can write reviews, and the builder cannot remove them, good or bad.
Understand -You Still Need an Inspection
Don’t assume that just because a home is new, that there won’t be any problems. You still need to hire a home inspector to provide you with a professional’s input. If possible, it’s a good idea to have the house inspected several times during the construction phase.
A warranty from the builder can provide you with protection in case anything goes wrong. All new homes come with one stating any fault in the structural integrity must be repaired. However, you also want a warranty with a specified length of time to include craftsmanship defects.
Why Purchase New Construction?
Now that you understand a few things to consider when buying new construction, why should you? While purchasing a brand-new home is unique and requires a different type of process, you can choose to customize your home with specific amenities and upgrades. More than likely you won’t need to do any remodeling after the close of the sale, and you get a warranty.
If you love the idea of a never-used bathtub and a freshly painted living room, buying a newly constructed home might be right for you. Solarity wants to be the financial partner you need in deciding if this is the right move. Contact us to talk about your wants and needs for purchasing a new home.