Buying a new construction home can be a whirlwind experience. From narrowing down location, to deciding on must haves, it can become time consuming and stressful. But with some knowledge and planning ahead of time, the new build process can be much easier and enjoyable. Here are some key tips for how to buy a new construction home in Florida.
What Is New Construction?
Simply put, a new construction home is one where the buyer is the first to ever live in the home. If you were buying a home from the current homeowner, who lives in the property, that would be considered a resale purchase. While this process can take many forms, the end result of being the first resident in the property is the same.
Know Your Options
New construction will throw lots of different option opportunities at you, especially when it comes to standard vs upgraded finishes in the home. The different builders of new homes for sale in Clermont FL all offer different standard finishes and different ways of upgrading those choices.
While one builder may do “packages” of upgrades where you move up and down a predetermined set of upgrade levels, others allow you to pick and choose specific items to upgrade at your discretion. It’s important to remember that these upgrades come at a cost and upgrade packages can raise home prices significantly as they cover many items at once.
Timing Is Important
Timing and delays are often the biggest complaint of new construction buyers. Be sure to ask the builder up front what their build timing is looking like and be prepared for a longer than expected wait. Complete start to finish home builds can take anywhere from six to nine months but extreme weather and other outside circumstances can throw a wrench in everyone’s timelines. These delays should be planned for especially in the case of a buyer who is currently renting and may run into lease extension issues.
Have Someone On Your Side
Builders will often offer you heavy incentives to use their preferred representatives (lenders, title, etc.) which they already have established relationships with. But it's important to go into the process with someone knowledgeable on your side since there will surely be some questions to be asked when buying a new construction home. Find a local real estate agent who has experience with new construction to help guide you through the process and to help represent you in any negotiations. Their knowledge can be invaluable, especially in a situation that is new to you, where everyone on the other side of the transaction is working together.
One of the most overlooked portions of the new home buying process is the opportunity for inspections. Most builders have their own inspectors who pass through the home many times to ensure a quality build. But inspectors are human and can easily miss mistakes or flaws in the home. Take the time to attend any inspections you can and consider hiring a third party inspector to examine the home as an unbiased third party. Just because a home is new, doesn't mean it can't have issues, better to catch them early before you move in.
Being the first owner of a brand new home can be an amazing experience and instills a sense of pride in the buyer, especially if they spent time customizing the home exactly the way they wanted. While there are plenty of opportunities for stress and frustration, following advice and planning ahead will minimize and in most cases eliminate any issues you may have. Keep these new construction tips in mind and you will be well on your way to your new dream home.