What Should I Know About Buying a New Build?
For a lot of people, the idea of purchasing a brand new build is something to aspire to. Often new builds are thought to be extremely pricey. And why wouldn’t they be? They are basically a blank slate. They are a sleek and modern living in a place that no one has lived before. A new build is a house that has brand new wiring and plumbing, a house with fresh paint, untouched carpets, and even fresh grass and landscaping that no one has trodden! While many people assume that purchasing such a home must cost an astronomical amount of money, this is not always the case. In fact, often these houses can be quite affordable if purchased early on in the development.
The majority of homes on the market are bought and sold preexisting. However, it seems that more and more buyers are interested in new builds. There’s no doubt moving into a newly built home is exciting. But if not approached the right way, can be a stressful and costly purchase. Like any real estate purchase, it is essential to do your research in every aspect of the deal as well as the property. Here are a few things that you should know if you are considering purchasing a new build.
What are the Different Types of New Construction Homes for Sale?
There are several different types of new construction homes you might be thinking about purchasing. Here are the three primary categories that they call into:
Design Templates: A new build that is based on design templates are often considered “cookie cutter” homes. They are essentially the same, but the owner gets the benefit of being the first to live there. It is a home that is pre-built and designed according to specific design templates
- A Semi-Custom Home: When it comes to a semi-custom home you re looking at a “cookie-cutter home” for the most part. However, you are given the option to make a few design options like the finishes, additional upgrades, backsplashes…etc…
- A Fully Custom Home: When you buys a fully custom home you are able to give your input on the design from day one. This is an excellent option if you are not in a rush to move in, and if you want to be involved in every step of the process.
Choosing the Specs
Now that you have determined what style of new build that you want to purchase it is time to decide upon what kinds of details and specs you want. Some things that you will want to keep in mind include:
- Your Budget: How much can you afford to spend? Will you be able to get what you really want for your price point? Are you willing to make some concessions? If so, what are you willing to concede on? Where are your top priorities?
- Location: Where do you want to live? What kind of commute are you willing to do every day? Do you plan on driving or are you looking to be close to public transit?
- Size: How big do you want your new home to be? How many floors do you want?
- Neighborhood: What kind of community do you want to live in? Are you hoping to purchase a custom home in a more established neighborhood or are you okay with a neighborhood that is still under construction? What amenities do you want to be close to?
Once you have determined the things listed above it is time to find a qualified real estate agent to held you get your new build, dream home at an affordable price.