It’s wonderful to think about all of the beautiful upgrade finishes
and personal touches that are available to buyers when considering the
purchase of a new construction home from a builder or developer. Most
people thinking of buying say that they really would prefer a brand-new
home and love the opportunity to pick and choose exactly what they want
from location and layout to cabinetry, flooring and colours. If
you are getting involved in the new home market, be prepared
to ask the right questions.
Know a great realtor? You can make your first visit to a
new home site with your realtor.
Model homes can be filled with every upgrade the builder or developer offers so that buyers can see first hand what their future home can be. Ask how much the model home costs as you see it. This cost can vary from starting prices.
When you are working with a developer, as with any professional, ask for references. Do some investigating of previous projects, length of time in business and general customer satisfaction.
Location is very important. Keep in mind that a resale home in the perfect location may be more suitable than settling for a poor location. Consider every option carefully.
Whether you are buying a new home or a resale home, have your real estate lawyer review all contracts as soon as possible.
With new homes, future property taxes can be a surprise you weren’t expecting because the property has not yet been assessed. Call the local municipal office to find out everything you can.
Again, whether buying new or resale, you should always have the property inspected by a qualified home inspector- this can save you future worry and expense.
Research the warranties available on structure, finishes and appliances.
As with a resale home, book a final walk-through before closing on your new home. Make a list of any incomplete items. You and your builder or developer can sign this list in agreement so that the work will be completed in a timely manner.
Keep your focus on your new home during the construction process. Visit the construction site on a regular basis- you can arrange a schedule of visits during the construction of your new home.
Take the time to compare prices between standard and upgraded features because it is often worth the expense to install better cabinets, fixtures and flooring. Check upgrades pricing at your local home centres for comparables.
Have a contingency plan for unforeseen delays in the completion of your home- variables beyond the control of any builder or developer can cause an extended completion date- with regards to financing and moving from a previous home.
As with any other home purchase, a little homework and foresight goes a long way towards a successful and stress-free move to your new home!
Tammy Dufault
Century 21 BJ Roth Realty Ltd.
