If you are interested in buying a new home, there are some critical things you should know. While the transaction is almost the same as a regular home purchase, new construction can be so much different.
Let’s check it out!
Home Location in the Neighborhood
While this may seem subtle, it is actually a huge deal! Buying a new home in the back of the neighborhood may offer a quiet space, but also a longer drive.
Furthermore, you should think about how the lot faces the road. A home that faces the road at a turn may see more vehicle lights during the nighttime.
Other options to consider: where the community amenities are (kids walking to the park or pool), where a lake may be, or where highways/busy roads are on the backsides of neighborhoods.
Consider the Use of Space Instead of Square Footage
Although square footage is a nice and easy number to look at, sometimes with new homes the larger home may have issues with use of space.
So while a home may have a larger floor plan, the actual use of that space may be difficult (think of hallways, or dead areas in a room).
Considering The Builder
When thinking about builders, you should just understand the price of the builder is equal to the quality of their work. Just like with anything, the price you pay, is what you get.
Therefore, it should be very important to you to purchase home inspections as the house is being built or before you purchase. Check out why new construction inspections are so important.
Home Location Versus Area Growth for Home Appreciation
In areas with new home builds, you may find there is a lack of retail areas or restaurants. However, they are supposedly to come. So, in the areas you are considering to purchase, think about the likelihood of that area to grow.
It can be quite common for cities/governments to say areas will grow in X years, however, this may not always happen. You can explore resources online like the U.S. Census to find areas of high growth opportunity
Who Is You Realtor?
A strong performing Realtor can save you many headaches when purchasing new construction homes. Home builders tend to “bully” home buyers since they are unaware about contracts and the process.
On the other hand, if you know your Realtor is experienced in new construction, you can go to the signing table confidently that you got a good deal!
Annie Rocks is a part of the Rocks Team in the Greater Tampa Bay Area. She is a great resource for new construction homes and actually helped with this blog! Thank you Annie!
Are the HOA fees within your budget, and do you truly need all of those amenities, or perhaps, you need more amenities?
HOA fees are often look passed, but can easily get expensive. Your lender and Real Estate Agent can definitely help you find a neighborhood that is within your budget and with your needs.
Local Schools, Churches, Gyms, & More
How far away are your favorite places and is the school you are zoned for what you need?
Using Zillow, you can easily find schools in the area followed by their rating. You can also use Google Maps to find gyms, churches, and more in that area!
Concluding on Buying a Brand New Home
If you are looking to purchase a new construction home, you should ensure you are looking into the notes above.
If you have further questions, you can always comment below or contact us and we would be happy to help! 🙂