One of the things I see buyers do over and over in our Killeen Fort Hood real estate market is that they just buy too much home for their budget.
They go in and visit with sales representatives in those gorgeous model homes and suddenly seem to go into a hypnotic trance!
Next thing you know, they have signed a contract to purchase a huge home that is way more house than they need (as well as way more utility bills than they can afford).
It' so easy to do! Those big box home builders know all the right things to say, the right things to show you, and the right financing terms to bring you to the closing table.
I don't mean to criticize them, as it is their job, and they are very good at it!
But is it the right home for you and your family?
Do you REALLY need a home that big?
Before you sign on the dotted line as you sit inside that gorgeous model home, go out and do a bit of research. It might make all the difference to your future lifestyle and budget!
Take a drive through older subdivisions that your target builder has developed and look at the condition of the homes after they are three to five years old.
Ask yourself: are rooflines sagging? Is paint already fading or peeling off the siding? Has the neighborhood already started to go down hill?
A quick trip around an older neighborhood will tell you the story of the quality of the home you are considering purchasing.
If you don't like what you see in your builder's old neighborhoods, and you realize your budget can't take a $400 electric bill, seek out a local builder who can offer you a quality home at a competitive price, and who will have a smaller home for you that will save you money on your utility bills!
Then, take a hard look at your budget. Utility costs are going up, and two story homes are a booger to heat and cool efficiently, especially the cooling part.
Local independent builders try to make their homes more unique than the big box homes, and their quality control is often much better than the huge volume builders. These homes are often built to a higher energy efficiency standard (better quality control), and they offer warranties on their homes, too, just like the big builders.
Independent builders normally don't offer financing, but they will offer you all the amenities the volume builder would have given you.
Local Killeen Fort Hood mortgage lenders, as well as the bigger national banks, offer competitive interest rates, so there's no need to feel pressured to use a big builder's lender to save a tiny fraction off your interest rate.
Buying a new construction home takes a different kind of specialized knowledge and different research than buying an existing home. You have to ask the right questions, make sure you have the right builder, and know how to negotiate with the different builders in the area. Don't get in over your head!
If you feel you need some help, just call, email, or text anytime!
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