4 Helpful Tips When Buying Your New Home
New construction homes come with countless perks! The process is more straightforward than traditional home buying and everything is brand new as well as customizable! Buying new has skyrocketed in popularity in the past year around Tampa Bay. Low home inventory has led homebuyers to forgo the competitive resale market and choose to buy and build in new communities.
Although new construction homes have many perks, there are a few things you should do during the process to make the most out of your new home and avoid costly mistakes.
Shop Around with Your Real Estate Agent
It’s important to do research ahead of time and meet with the builders that are within your budget. The builder’s sales consultants will go over how long it will take your home to be built, floorplans, and incentives they have. Some builders have a list of inventory homes that move-in ready or near completion that the sales consultant will provide. Shopping around with an agent will also allow you the opportunity to inquire about amenities they plan on building and their HOA fees. We recommend visiting 3-4 builders.
Be Careful Falling in Love with the Model Home
When you go to visit the new home builder sites, they will often take you on a tour to see one or two of their models. It is easy to become enamored with the glitzy finishes and perfectly staged rooms. Instead, pay close attention to the flow of the home and room placement. Do you want an open floorplan or do you prefer the living room closed off from the kitchen? If you see a floorplan that isn’t a model, ask to see if they have any nearly finished homes in that floorplan. Usually, the sales consultant will be happy to bring you to that home to see in person.
Representation and Incentives
We HIGHLY recommend you go into the sales center with a real estate agent by your side! It’s a common myth that if you go into a deal without a Realtor, you’ll save money. The opposite is actually true, in fact, builders put aside funds to ensure your Realtor is paid. Your Realtor works for you and will be your advocate when negotiating contracts or incentives. Many home builders will run incentives that include credits towards the design center or your closing costs. Typically, to obtain the credits towards your closing costs you will need to use their in-house lender. Some builders offer more than others which is why it’s important to shop around with an agent.
Don’t Rush Your Walk-Through
After the home is completed, the builder will invite you to do a walk-through of the home. This your chance to inspect the home for yourself and bring to light anything that needs to be fixed. Make sure to do this thoroughly and don’t be afraid to speak up about a blemish. You are paying for a new home that you shouldn’t have to go back and fix yourself.
These are some seriously helpful tips that will help you through the homebuying process. Tampa Bay has new homes popping up throughout the entire area with incredible amenities. Some master-planned communities include their own cafes and elementary schools, there is even one with a lagoon-style pool! New construction is an exciting option! Who do you know that is planning on building a home this year?
~SI Real Estate Tampa