Buying New Construction:
The Process
1
Meet with a Realtor
2
Connect with a Lender
3
Determine Wants & Needs
4
Research Builders
5
Negotiations
6
Design & Construction
7
Home Inspections
8
Final Details
9
Closing on Your New Home
10
Move-In Preparations
You'll want to find a realtor who is familiar with the market, has relationships with builders, and knows the new home construction process well.
Find a lender who provides the best options for you. Ask about construction loans vs. builder financing and which option is best for you.
Think about things that are a must-have and what are preferences. Do you want to build a completely custom home, move into a new development, etc.
You'll want to shop a few different builders to know you are comfortable working with them, understand the home designs, different warranty coverages, and ensure you are getting the best price.
Your realtor is a valuable resource and can guide you on which areas to negotiate. Remember to document any verbal agreements in writing once they are reached. This is crucial to ensure that everyone is on the same page.
It's important to have a solid grasp of the available material options, including what constitutes an upgrade. To avoid potential delays caused by modifications later on, it's best to tackle this task early on in the process.
The builder will conduct inspections at various stages during the construction process. It may be worthwhile to hire an independent inspector to ensure that everything is constructed safely, correctly, and as per the promised specifications. It's a good idea to bring along your realtor for their expertise in identifying any issues to look out for.
During the final walkthrough, it's essential to examine the property thoroughly to ensure that there are no leftover paint splatters, construction materials, or other indications of incomplete work.
It's finally time to close on your newly constructed home. Your agent and lender will guide you on any remaining steps to complete before closing day. To ensure maximum efficiency, have all necessary documents ready and be available for any last-minute calls or emails. This preparation will help ensure a smooth and successful closing.
Before moving in, ensure all utilities (water, electricity, gas, internet) are set up and functioning properly. Arrange for movers and plan the layout of your furniture to make the move as seamless as possible. Consider doing a final deep cleaning to ensure your new home is spotless and ready for you to settle in comfortably.