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Stating the Facts About Real Estate


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Stating the Facts About Real Estate

Buying real estate can be a really good investment. There are a few different approaches you can take. Many people choose to simply buy themselves a home and pay into the mortgage over time, building equity. You could also buy an apartment community or a couple of homes to rent out, profiting from the rent, and then profiting again when you sell the homes. Regardless of which approach you take, it is important to know the facts. This blog is a good place to find them! We state the facts on real estate, and we cover a wide range of topics for your benefit.

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4 Tips You Must Know Before Buying a New Construction Home

Buying a new construction home may seem like an easy route in the home buying process. You just walk through a few finished models and pick the floor plan that works for you. Well, there is a little bit more to the process than that, and the tips below will help.

1. Work With a Buyer's Agent

You still need to work with a buyer's agent when you buy a new construction home. In fact, do not even enter a model without your agent. Often, it doesn't cost anything to work with a buyer's agent, and it doesn't raise the price of the house. In fact, if you do not have an agent, you have no one in the real estate transaction that represents you or your best interests. It's the builder and their entire team against you. 

2. Negotiate the Price

This tip to buying a new construction home is another reason why you need to bring a buyer's agent with you to see the models. You can negotiate the price of a new construction home. How well the lots are selling determines how receptive the builder will be on price. If your agent can't get the builder to budge on price, most will negotiate to get extras thrown in at no charge, like air conditioning or new sod in the front yard. 

3. Get a Home Inspection

Yes, you do want an inspection on a new construction home, preferably two. Have your agent refer you to a home inspector and hire them to do an inspection before the drywall goes up — so he or she can see the wiring and plumbing — and a week before closing. While the home is inspected by your city or county during the construction process, they are looking to make sure everything is up to code. They are not there to notice poor framing timbers or improper exterior grading. The home inspector works for you and will ensure that everything is up to your standards.

4. Put Money Aside for Extras

Realize that when you move into a new construction home it is brand new. There are many things missing that one would expect when moving into an older home. There are, for example, no window coverings. You need to be prepared to buy and install window coverings immediately for privacy. Likewise, most new construction homes do not include a refrigerator (unless your savvy agent got one thrown in for you), and you will need to purchase one as soon as you move in.

Buying a new construction home is a fantastic experience. Picking out every detail, from the floor plan to the tile color, is fun. Having an agent walk you through the process is important.

To get help looking for new construction homes for sale, talk to a real estate agent in your area.