Right now, builders are making great deals to get your business. This can be very tempting when faced with the alternative of homes that have sat vacant far too long, leaving questions about mold, uncaring tenants and less than stellar homeowner maintenance on the market right now. But when we look at the deal that the builder is offering, it will be important for a savvy buyer to ask some pretty difficult questions of the builder, too. Are you prepared to ask to see the builder's financials before you go to the trouble of selecting all of the features for your new home and more importantly before you design it? If not, you could easily find yourself getting turned down by your lender regardless of your financial background. You see, you are not the only one who has to qualify for the loan. This can be heartbreaking after going through the tedious and time consuming design process for a new home. Worse still, if your purchase is cash, is it possible that the deal is so good that the builder would be better served to walk away from the home without completing it?
Don't misread me. I am a huge advocate of new homes and building. But it is important to be careful. It is not difficult. Just ask the questions and demand the proof. If you are not getting it, believe me, another builder will be anxious to give it to you. That's the one you want to do business with.
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