For some homeowners, there is something magic about moving into a new home construction. Rather than the character of an older home, these homeowners prefer the contemporary looks, modern floor plans, and newness of a brand new house. And with the bevy of new home construction in Peoria, AZ, it is little wonder that even some who like historic homes are tempted to make the switch to a more recently built property.
As with buying any home, there are some things that would-be homebuyers need to know in advance. However, there are some particular things to keep in mind if you are considering buying new home construction. In this article, we will take a look at some special considerations.
Buying New Home Construction
Bring your own realtor
Some people think that when buying new home construction, they are expected to go to the sales office themselves to take care of the entire process with the builder’s agent. And while the builder is counting on you doing just that, it is not necessary or to your benefit. Instead, find an accredited real estate professional who will be dedicated to working for you during the transaction. While there is much research you can do on your own (and we are trying to cover a good swath of it in this article), there are simply too many possible scenarios and nuances to buying new home construction that only a professional will truly be able to handle comprehensively.
This is not to imply that all sales agents working for home builders are looking to rip you off or pull a fast one, but their allegiance rightfully lies with the builder who hired them on. If that agent is looking out for the home builder, who is looking out for you?
Research the builder
Speaking of the home builder … Before opting to buy new home construction, assess what you know about the home builder. Is it a company with a good reputation, or do buyers seem to have a lot of complaints? Ideally, you will have a friend or family member who has previously purchased new home construction from that builder in the past and who can vouch for the quality of their work, the ease of the transaction and their performance in addressing any home issues that came up during a warranty period after buying new home construction. Is the builder a large corporation with subdivisions all over the country, or is it a local builder specifically building new home construction in Peoria, AZ? There is no right or wrong answer to that question, but it can have some implications for you when you decide to buy new home construction from them, like how sophisticated their customer service is likely to be. Do remember that reputation should trump all.
Pick the right lender
Just as they will employ sales agents to try to sell you homes without the benefit of a buyer’s agent, the home builder likely already has a home lender lined up to take on the bulk of the home loans resulting from the purchase of new home construction. Do your homework and pick the lender you like, or ask your agent to recommend a lender that they work with. Not only can having the right lender make the entire process of purchasing new home construction much more easy and pleasant, it can possibly save you thousands of dollars over the course of your mortgage.
Is the home a model home?
Purchasing a model home is not inherently good or bad. It is, however, imperative that you make some certain considerations when purchasing this specific type of new home construction. Model homes are often upgraded with especially nice finishes and other features, meaning that it is an easy way to know that you will have one of the most decked out homes in the neighborhood. And some builders may even allow you to purchase the furnishing they use to display the house as part of your overall purchase — but be sure to get it in writing in your contract.
Similarly, assess whether the model home is actually new. While it is unlikely that anyone has been living in the house, it is incredibly common for model homes to be used as sales offices. If this is the case with the new home construction you have your eye on, a qualified realtor working on your behalf will be sure that is factored into the equation when determining how much you should be paying for the house. The carpets, toilets, sinks and more will not be in as pristine of condition as if the model home had been entirely new.
If you are looking to buy new home construction in Peoria, AZ — or anywhere else in the Valley, for that matter, be sure to give us a call. Our buyer’s agents have tons of experience in buying new home construction and can help you navigate the entire process with confidence. We look forward to hearing from you!