Buying a new-construction vacation property for sale can be an attractive option to many. The allure of owning a brand new home that has never been lived in can be strong. And of course, buying new also gives you the opportunity to work with the builder to customize your floor plan. Even if you buy a move-in-ready new-construction home, however, there are some steps you ought to take before closing.
Consult With a Real Estate Agent
One of the biggest mistakes people make when buying a new home is assuming they don't need a real estate agent. After all, what could there possibly be to negotiate when buying a brand new house? In reality, an experienced real estate agent may have established professional relationships with your home's builders or development company. As a result, he or she may be able to negotiate some savings or upgrades. For example, a real estate agent may be able to get your closing costs waived or, if you're custom building, get you an upgrade on flooring.
Have an Inspection Done
Another common mistake some buyers make is that of foregoing the real estate inspection prior to closing. While there is unlikely to be anything major wrong with a brand new home, the truth is that mistakes can happen during construction or even after the home is built. For instance, a severe storm could tear through the neighborhood after construction is complete and cause damage to your home's roof or siding. A home inspection will give you the peace of mind you need and alert you to any potential repairs that the builder needs to make before you close.
Inquire About Warranties
Any new home should come with a warranty on major components, such as HVAC, roofing, siding, and windows. Be sure to find out exactly what kind of warranty your builder includes, as well as any exclusions that may be in place. The better informed you are on what's included versus what's not included as part of your warranty, the better prepared you can be if you run into any issues after you move in.
Learn About the HOA
If your home is in a neighborhood that will have a homeowner's association (HOA), be sure to find out about how much your annual dues will be and what your HOA services include. If you're moving into a very new neighborhood, you'll also want to find out when the HOA board will be turned over from the builders/developers to the homeowners.Share