Are you thinking about buying a new construction property?
If yes, then here are some tips for you all.
Tip #1 Seek help with a realtor
Keep in mind that the builder representatives don't work for you.
They work for the builder and they have the builder's best interests at heart.
Having a realtor by your side can help educate you on the process, represent your best interest, and educate you on your available options when building.
Tip #2 Visit and explore
All new construction properties will show well, look good, and smell good. Don't fall in love with every home that you see.
Make sure you visit the neighborhood and check your surroundings.
It's important for you to know that you can only buy one house. So visit multiple areas, different neighborhoods, and also different builders.
Tip #3 Do a loan application with the builder’s lender
Having the builders preferred lender finance your new construction home is a GREAT idea. When you use the builder's lender, the builder will offer you additional incentives. These incentives can range from closing cost, free upgrades, studio credits, rate buydowns, and etc.
Tip #4 Be Ready to put down a deposit at contract signing
Keep in mind that builders will not build a home without a deposit. Most builders will require a deposit at the time that you decide to write your contract.
Always know that “No Deposit” means “No House”. When it comes to your deposit, you want to budget between a minimum of $5,000 and 2% of your final sales price. The required deposit will vary depending on the builder you select.
Make sure you watch the video above to learn a little bit more about the new construction home buying process.
Let me know if you have any questions or comments by leaving a comment down below. Don’t forget to follow me on my social media for more updates.