How to Buy a New Construction Home

With new developments being built now and more planned for the future, Orlando is a growing city with a lot to offer in modern living. Residences are constructed to more rigid standards, which are great safety improvements from just ten years ago.

New neighborhoods, like The Pointe at Hunter’s Creek, offer a nice variety of choice from two of the best home builders in the country. What’s great about new construction is that you are getting what you most want in your house. That’s a huge benefit, because buying a newly built home means just that, everything will be new. However, that’s not the only benefit of buying new construction.

Differences between New Construction and Existing Homes

Existing homes may have the “charm factor,” but they often come with a myriad of problems, ranging from minor to major. Even if a roof is in good condition or a central air conditioning system is working properly now, at some point in the future, those items will have to be repaired or replaced. New construction comes with some assurances, in the form of warranties, which cover such costs.

“Buying “new construction” is a bit different from buying a previously-owned home. For one, because there is no previous homeowner, you don’t have to deal with a seller’s emotional tie to the property, which typically influences the negotiating process. Whether you’re designing and building a custom home or buying a home that’s built on spec in a new subdivision, you’ll only have to work with the builder.” —Front

Another great benefit in about new construction is not having to deal with a seller’s situation. Emotions may be one factor, but what’s far more common is the seller having difficulty with finding another home, and closing on that property on a timeline that fits your schedule. Since you’ll be the first owner of the home, you won’t have to deal with a seller’s transition.

Helpful Tips to Buy a New Construction Home

Purchasing a newly built home will present many choices and you should do what you can to not only get a good deal, but be protected from any potential problems. Here are some helpful tips to buy a new construction home:

  • Get your own real estate buyer’s agent. Though the developer will likely have a real estate professional presenting and selling the properties, you should engage the services of an agent of your own. The great thing about this is the builder will pay your agent’s commission and you’ll have an objective, experienced person looking out for your best interests.
  • Don’t just go with the developer’s lender. Here again, the builder will probably have a lender to refer you to, but, that particular lender might not have the best loan products. Shop around as you would if you were buying an existing home.
  • Speak with an attorney. A real estate attorney can look over the builder’s documentation and advise you of any potential problems.
  • Get a new home warranty. The developer typically offers a home warranty, so take advantage of it and that will give you peace of mind.
  • Learn which features are standard and which are upgrades or add-ons. One factor that greatly impacts the price is the upgrades or add-ons. Learn what features are standard and which cost extra to install.
  • Hire a home inspector. Even though it’s new construction, you want to be sure the home doesn’t have any problems, so, hire a home inspector to check it out from top to bottom, inside and out.

Something else you ought to do is become familiar with the new neighborhood, visiting during normal work commute times. In addition, pay a visit during weekends, days, and evenings. This will give you firsthand information about neighborhood traffic.