by Patricia Feager, 2017
As the trend of low inventory and choice selections of older homes continues in Flower Mound, buyers may want to consider new construction. Buying new is a completely different process than buying pre-existing homes. There are advantages and disadvantages. Some things to consider include:
TIME FOR COMPLETION
It takes time to build. Builders need lots, permits, planning and zoning, contractors, e.g., engineers, electricians, roofers, glass and window, plumber, and foundation people, just to name a few. They also need materials, and Buyers. The erection of a building takes time and money. Weather and unexpected delays is a factor.
The most important thing a Buyer needs is a local Real Estate Agent to help guide them through the process. Keep in mind, the sales rep for the Builder works for the Builder. They are getting paid by the builder and the more you're persuaded to buy from the sales rep the more likely you're going to run out of money before you even move in. A buyer is not required to use the builder's lender. Buyers have options and should find out from their representative (local Real Estate Agents you have a signed representation agreement) for a list of credible lenders who can provide financial advice and lending.
WHAT TO DO WHILE WAITING
- Keep your Real Estate Agent informed every step of the way.
- Do not assume that the Builder's Rep contacted you and your Agent.
- Keep your Agent informed of all communication from the Builder's Rep.
- Keep appointments with the builder - keep your Agent informed.
- Monitor the progress of construction - your Agent can help if you ask.
- Do not spend money foolishly - keep your Lender and Agent informed.
- Pay attention to windows - plan for window treatments but don't buy yet.
- Pay attention when it rains - is the lot flooding?
- Keep your Agent and the Builder's Rep informed of all concerns.
- Pay attention to details - Discuss concerns with your Agent & Builder's Rep
These are just a few tips. If you're looking to buy New Construction in Flower Mound, please let me know. Although it takes time, your time with me looking out for you will be time well spent.