Are you thinking about buying a new construction home in the Portsmouth NH Maine Seacoast areas? We have some great choices available for you to pick from!
This really is a terrific time to be in the market as there are choices, there are great lower interest rates, and you actually have the time to think and make the best decisions for you and your family.
If you are in the market to buy a new construction home or having a home built just for you, here are some tips to help make that experience a good one for you:
- Find yourself an experienced agent to represent you and your best interests - so many decisions are part of the process in new construction that you really do need someone to help guide you with negotiations, choices, research, etc. Your buyer agent will work FOR you, and will be with you to help with these very important decisions that come up throughout the process.
- Work with the mortgage company the listing agent has worked out financing programs with - many times the programs that the builder and his listing agent talk about are better than if you looked elsewhere. That lender(s) has put together loan packages based on that company doing all, or most of, the loans with that builder or in that development, and because of that, the rates offered may be lower, the closing costs may be lower, or any one of a number of other concessions they've worked out to be the lender of choice. Another important factor in using that lender is that they are already familiar with the project and can oftentimes make the process smoother because of that. This is not to say that another lender might not match or beat what that lender of choice has to offer, so you're always encouraged to keep your options open, however my experience has been that the lender the builder and/or listing agent have worked with offer very competitive financing packages.
- Choose your lot carefully, if you're buying in a new development- f you get into a development early, you have more choices for sites for your new home. Take into consideration how you live (lots of outside living, kids, pets, etc.) and you also want to keep in mind resale factors as well. Even if you plan to spend the rest of your life in that house, you still want to keep resale appeal in the back of your mind.
- Make your extras and upgrades choices very carefully - again, it's just as important here, and even more so, to keep resale in mind when deciding what extras and upgrades you want and are willing to pay for. Your kitchens and baths will reward you very nicely with carefully made decisions in these rooms. Your choice of flooring can make a big difference as well.
- Work with the vendors the builder has already lined up, if at all possible - if your builder recommends certain vendors for flooring, lighting, appliances, etc., try to work with them if they have the products you want for your new home. The reason the builder recommends them is because he knows of their reliability and they know each other's time line and when things need to be done and how each other works. Many times, when a buyer goes to an outside vendor, problems arise with deliveries, time lines, etc. that could very well have been avoided had the buyer gone to the recommended vendors.
- Take time and care with your purchase agreement- with a knowledgeable and experienced agent representing you, you'll have all the i's dotted and the t's crossed. You want everything spelled out in this contract, including the extras and upgrades and how/when those will be paid for or included in the purchase price. Another part of your contract that you won't want to overlook is the inspection clause. Most buyers, and even a lot of agents, think that because you're buying new construction that you don't need a home inspection. A good builder should have no qualms about allowing you to have an inspection done. A professional inspector will pick up on things that a walk-through won't show. You're spending a lot of money, and likely are planning to be in your new home for a long time to come - make sure you're getting what you're paying for by having your inspections done.
Portsmouth New Hampshire real estate offers so many options in homes and condos. If you're considering a move to this area, I'd welcome the opportunity to talk to you about your move and purchase of a new home here in the Seacoast areas of NH and southern Maine.
Related Articles of Interest for Buying Portsmouth NH Homes and Condos:
- Portsmouth New Hampshire - A Great Place to Call HOME!
- Portsmouth NH Home Buyers - Interest Rates at 3-Year Lows!
- Top 10 Do's and Don'ts During the Mortgage Process
Ann Cummings, New Hampshire REALTOR
Broker - NH and Maine
RE/MAX Coast to Coast
888-349-5678 x 3839
Servicing the Coastal Areas of NH & Southern Maine