When you're purchasing a single-family home, one option you might discover is a single-family home that is also a new construction. By purchasing this type of single-family home, you'll be able to avoid any of the potential problems that previous homeowners have left behind. You'll also discover that the home was built to modern standards and is more efficient. However, there are expensive mistakes you can make when purchasing a new single-family home.
Understand What's Covered in the Builder's Warranty
Make sure you understand the type of warranty that the builder is offering. The two type of builder warranties are implied and express. An implied warranty is based on local building codes and standards. It takes into consideration what would impact the livability of your home, whether or not it is safe, and whether or not it is considered habitable.
Know the Difference Between Implied and Express Warranties
An express warranty details very specific problems that would be corrected by the builder if they were found. With this type of warranty, it's important to read it and know exactly what you will be protected from. You may also want to talk to a building contractor and have him or her look at the warranty to make sure that you're covered.
With an implied warranty, the actual warranty itself is worded very vaguely. For this reason, some builders want to be explicit in what they cover so that they will have a reputation as a reliable builder. Even if you have a warranty, the only problems with your home that will be corrected are those caused by the builder, not by your own actions or damage that results from a natural disaster.
Understand What You are Responsible For
When purchasing your home, you may only be focused on the price of the home, but don't forget to also budget for other aspects of homeownership you're responsible for. For example, the new home may not have landscaping yet.
The great news is that you may choose the type of grass you'd prefer. For example, if you have a dog, you may want to use St. Augustine grass, which is durable and resistant to dog urine. However, needing to install your own landscaping will also lead to costs you may not have accounted for. There are other features your home might not have yet such as light fixtures and window coverings.
Look at single-family home listings to find a new construction you like.Share