What are some of the most common mistakes buyers make when buying new construction?

What are some of the most common mistakes buyers make when buying new construction?

Here are five of the most common mistakes individuals make when purchasing a new construction home.

• Not Researching The Community Ahead Of Time.
• Not Vetting Your Builder or Developer.
• Not Protecting Yourself Throughout The Buying Process.
• Not Properly Prioritizing Costs.
• Not Getting A Home Inspection.

How do you make an offer on new construction?

Writing up an offer on new construction is fairly similar to an existing home. You’ll need all of your identifying information such as who’s buying, who’s selling (the builder), the legal address of the property, how much your offering, and parties involved including title, lender, and escrow.

What is the most common source of major problems in new home construction?

One of the most common new construction Home defects is overlooked paint. You may find that some areas of a newly-built home have not been properly painted, such as basement areas, utility closets, and other out-of-the-way areas. Touch up paint is also done at the very end of construction.

What new construction upgrades are worth it?

Energy saving upgrades are the gifts that keep on giving. If you’re provided with the option, spend extra on things like energy efficient windows, appliances, space heating and cooling devices, and more. The more efficient you can make your home, the more you’ll save in utility costs every month.

Do builders negotiate on price?

Yes, you can negotiate on new construction homes – you’re far better off negotiating for ‘things’ than for money off the purchase price. Even negotiating closing costs is easier than negotiating the purchase price because builders want the final price as high as possible for future appraisals in the neighborhood.

What are the cons of buying a new build?

Before you start interviewing contractors and looking at lots in new subdivisions, consider these downsides to buying new construction.

• New Houses Cost More. 1/12.
• Lack of Trees.
• Change Orders Are Costly.
• Limited Choice of Contractors.
• Specials Add Hundreds to Your Mortgage.
• Longer Commute.
• Small Lots.
• Contractor Callbacks.