With the relatively low inventory of homes for sale in the Valley area, it is little wonder that so many people are considering — many for the first time — taking the leap and buying new construction homes in Phoenix AZ. Here are the best questions to ask when buying a new construction home.
Questions to ask when buying a new construction home
Buying a home is always exciting. Buying a new home construction can be especially exciting because, for many homeowners, it is the first time they have the chance to dictate and personalize the home in its entirety. But before you get too excited, make sure you have asked yourself the following questions:
Who is looking out for you?
Many people make the mistake of rolling into a new development and negotiating the sale on their own with the real estate agents on site. The problem with this is that these realtors are usually hired by the builder. So when negotiating what could be one of the most important financial transactions of your life, who has got your back? While it is absolutely a good idea to do some research on your own to pinpoint which neighborhoods interest you, having a professional representing your interests at the table is key — especially given the nuances and complexities of new construction purchases.
Who is building your home?
Before falling in love with a model home and obligating yourself to a new home construction process, research the builder to find out what sort of reputation they have. From reviews online to friends of friends and social media, there are more ways than ever to get the lowdown on what kind of quality and experience you can expect from any given builder. Keep an eye out for red flags and pay attention to any stories you come across regarding issues before, during and after construction and what the builder did to make things right with the buyer in question.
Your realtor will be another great resource when researching home builders. If they have significant experience in the area in question, odds are that they have experience or know of the builder. This is particularly true if it is a major homebuilder. Furthermore, your realtor can talk through strategy with you based on knowledge about the builder’s negotiating style. For example, many builders are far more likely to make concessions on things like closing costs than hard costs for a home. This is so that they do not set a precedent for low selling prices for their other homes in the neighborhood or subdivision.
How much house do I really need?
Many buyers, when buying a new construction home, have a propensity to build homes that are far bigger than they really need. Over time, the amount of work and money it takes to keep up with a massive house can be wearing for some families. While a brand new home is certainly exciting and it is hard not to get too carried away, tread with caution and be realistic when picking which floorplan is right for you.
The same goes for upgrades …
As with the propensity to build homes that are too big, many buyers also tend to go overboard with add-ons. That $250,000 home that seemed so reasonable when you started the process can quickly turn into a $350,000 home. Have a total number in mind before you meet with the builder to select upgrades and, if you are married or have a significant other with whom you are buying the house, agree to that budget. Discuss which items are priorities for you so that you can be on the same page when it comes time to decide between those beautiful tile floors, the double ovens and the marble countertops.
Am I prepared to wait?
New homes typically take around five months to build. And while this number certainly varies by builder, subdivision and other factors, a near universal truth is that your new home construction will probably not be completed as soon as you would like it to be. Whether you are currently renting, own your current home and are waiting to sell or have an arrangement to stay with friends or family, think carefully about whether or not that arrangement will work for you for months. Staying in your in-laws’ basement is all well and good for a long weekend, but can wear on many people after a while. This is not to discourage you from buying a new home construction, but to make sure that you do into the process with eyes wide open and considering all of the ways the experience is unique.
Still thinking that you would love to buy a new home construction? Give us a call and let us show you some of our favorite up-and-coming communities! Whether you are looking for a condo, a McMansion or something in between, one of realtors is sure to know the perfect spot for you to buy a lot and claim as your own.
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