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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What You Should Ask Your Builder When Buying A Newly Constructed Home

Have you given up on trying to find a home for sale and decided to buy a newly constructed home instead? If so, you will want to ask the builders the following questions.

Are There Any Financial Incentives By Using Certain Vendors?

You should always ask if the builders have any financial incentives for you if you use preferred vendors to make the home purchase. For example, there may be a lender they can refer you to that is more likely to give you a better rate because that builder refers their clients or a title company that can perform the job for less money thanks to a referral. This can extend to many aspects of the home as well as it comes together. You may be surprised at how much you can save by using a preferred vendor.

What Are The Standard Finishes?

One thing to keep in mind is what finishes are standard as part of a new home. This is because things can be confusing when you look at a model home, with many things about it not being the standard finishes. This could include the crown moldings, the type of wood that is used for the flooring, having plaster walls instead of drywall, and things of that nature. Make sure you fully understand what is going to be a standard finish and what you need to pay additional for.

What Are The Community Plans?

There is more to look into than just the home that you are buying. If you are purchasing a newly constructed home, it is likely part of a larger community. Ask the builders what the plans are for the entire community. You can see plans of the community layout and see how many homes will be around you. Be aware that if you are one of the first people to buy in a community, there may be ongoing construction in the area for the foreseeable future. 

What Are The HOA Rules?

A common part of buying a home in a community is that there is a homeowner's association. This typically means that there are monthly fees for living in the community to maintain it, and rules that you must follow as well. HOA rules can include limitations on what structures can be put around your home or even limit you to the type of fencing you can have around your home. Make sure you understand what the rules are and that you are comfortable with them. 

Talk to a real estate agent for help finding a new construction home.