Whether you are a resale homeowner looking to dive into newly constructed homes, or a first-time homebuyer, purchasing a property is a huge investment and one that needs to be done appropriately.
Then, if you have already done thorough research on the real estate market and developed an interest in newly built ones, you might have to carry out some due diligence before dabbling into it. Buying this type of house is quite different from buying a previously owned or resale home.
“Many people love the idea of being the first person to live in a new home. No one has ever lived there. A new property is better than a used one, as damages and repairs would then become something you don’t have to worry about. However, despite being freshly constructed, a new home would still have its drawbacks and unexpected challenges.”, says Anthony Wardan, A Melbourne Businessman and Director at Maple Living, a company specializing in the completion of homes to the highest standards in Australia.
Besides, if you are buying your dream house, you would want it to reflect your preferences in aesthetics and needs. Hence, before dashing out to seal the deal, we have had a chance to seek advice from Anthony Wardan on buying a newly built home that comes with peace of mind for the first-time homebuyer.
Get a real estate agent
You are highly likely to get representatives on-site who can help you through the buying process. As much as this is convenient, you might want to hire an agent yourself. These representatives will answer all your queries, help you in striking the deal, and walk you through the whole process without hassle. But if you want someone that’s working for your best interest and not the other way round, working with your agent will ensure you are both on the same page.
Additionally, the builder will pay the agents who will represent you during the home buying process. So why not hire the best in the field to help you get a good deal?
Check the Construction quality
As a new homebuyer, if you are opting for a new home offer, then it should be that of the highest quality and nothing less. You shouldn’t have to deal with the wear and tear that comes with an already owned home. The new house should be a model of the house we live in today. That is, built with state-of-the-art products, high-quality materials, and Important safety measures.
Unfortunately, builders’ knowledge and experience are not the same, yet you want to work with the best for the best results. For this, you will have to carry out research and this includes:
- Ask friends and family who have already purchased a newly built home for their experience and recommendation.
- The internet world has made things easy. Check online for a list of builders and new home construction. Read reviews and testimonials from others who have already used their services to know their experiences.
- Take a drive to the development sites and ask homeowners around about their experiences with builders, their opinions and advice, and if they truly love the quality of their home
- Being a new home buyer you should interview different builders and ask a lot of questions regarding warranties, completion time, and related matters.
- Google searches for any negative news, mentions, and reviews. But while at it, ensure that news is authentic and not just something to tarnish the builder’s reputation.
Everyone wants the best home at the most reasonable price possible. However, Anthony Wardan says, understand that builders do not always reduce prices. Yes, you can get some reductions in pricing or discounts, especially if you are the first buyer in the development area. But generally, builders have established pricing that sets the pace for home value and potential buyers.
Therefore, instead of looking into price reduction, opt for upgrades instead. From landscaping to fencing to energy-efficient home designs, builders might be willing to upgrade your home at no or lesser cost. Plus, it’s a great way to add value to the home.
Inspect the new home
Inspectors will be provided on-site to ensure builders are adhering to the building codes throughout the building process. However, there is nothing wrong with having your inspector looking out for any loopholes and ensuring that from start to finish everything is executed as planned.
The point is, builders are not immune to mistakes and there might sometimes be looming problems that they fail to identify and solve. Having your inspector check things out is like an added peace of mind to a new homebuyer.
Research on the neighborhood
This is one important factor many fail to carry out, but one that plays a huge role in your home buying. You want an environment that is not only safe but also vibrant and full of life. What will the neighborhood look like in the future? For those with kids, are there good schools available in the area? What about other amenities, how easily accessible are they? How about the homeowners association rules and costs? Anthony Wardan advises that these and many more are the things you need to consider before making your decision.