There is nothing like new construction! Walking into your newly built home with fresh paint, gleaming hardwood floors, plush carpeting, sparkling granite -- all brand new and ready for your personal touches. What most buyers don't realize is that the process leading up to move-in day can be laden with agonizing stress if you are not prepared for all that is involved with purchasing new construction.
You can avoid a lot of the stress and expense if you have the guidance of a real estate professional who specializes in new construction sales. There are so many decisions to be made and things you must be aware of -- specs; upgrades; allowances; non-refundable deposits; construction delays - the list is endless!
Purchasing a new home can be enjoyable and even fun if you are well educated and armed with a knowledge of the process. Team DeSantis is highly experienced in the sale of new construction. Scott DeSantis and Hope Lacasse are the Team Leaders for new construction sales in the Greater Nashua area. Below they share with you tips on buying new construction:
- Understand that generally there is no room for negotiating prices in new construction. A builder will list a home as "starting at." This price point is the base price for the particular model you choose. Builder's prices are determined by lot costs, road construction costs, materials and labor. These are fixed costs and there is not much wiggle room for a builder to negotiate.
- A builder will furnish you with a list of "specs." This tells you what comes with the home at the base price. A realtor will help you to determine not only what comes with the house, but more importantly, what does not come with the house.
- Many surprises come when a buyer is unaware of items that don't come with a house and are "upgrades." Some items can be very expensive and put you over your budget if you are not prepared beforehand.
- Buyers of new construction are given "allowances" with which to purchase kitchen cabinets and counters; bathroom vanities; appliances; lighting and flooring. You need to pay careful attention to allowances. A flooring allowance may look large, but it may actually only cover vinyl flooring and carpeting. Hardwood and tile can bring you well over your allowance and you will have to pay extra. Kitchen allowances may not cover granite counters; cherry cabinets; an island; or that special layout you had your heart set on. A realtor with new construction experience can quickly determine if the allowances will sufficiently cover what you want in your new home or if you will be paying significantly out of pocket.
- Most builders require a five percent non-refundable deposit on a new home. The reason is that the builder will be putting in your choices for the home and if you back out, he has to find another buyer whose tastes equal yours. This is why it is important to know the numbers before you sign a contract.
- A contract for new construction varies from a standard purchase and sales agreement. One of the items in most contracts is a clause for "automatic extensions." There are so many things out of the control of a builder when constructing a new home, that delays can and usually do happen. What does this mean to you? What if you have a home to sell? What if it sells and your new home is not completed? What is your mortgage rate lock is ready to expire and your house is not completed? These are questions that a real estate professional can help you with. They understand the importance of timing when selling your current home and have many resources for you to access if your home sells too soon!
- Pre-construction sales can be a great way to build equity in a home quickly. New homes in the beginning of a new sub-division are usually sold for less money. The reason is that there is usually more delays in the beginning of a sub-division and you also have to live in the area while all the construction of the other homes is on-going. If you have the patience to endure the delays, noise and dust, this could be a good option to buy the home of your dreams for less money.
Where do you start? By sitting down with an experienced real estate professional. They will help you determine the size and style of home which suits your tastes and budget. They will help you find a floor plan that will accommodate your lifestyle. You can then visit various new construction sites with your real estate broker to determine if the available lots are to your liking. An agent with new construction experience has a good eye to determine how your house plan will fit on a lot and whether a walkout basement or a side-load garage will work on a particular lot. Your agent will also guide you through a model home and show you how to determine the quality of the construction. Once you have chosen your sub-division, your lot and your building plan, then it is time to go over those all important specs, upgrades and allowances. Once you find a package that fits your budget, your real estate agent will take care of the paperwork to protect your interests in the best way possible. Your agent will also be there as you choose lighting, fixtures, landscaping and all those wonderful touches to make your newly constructed house a new home.
Call us today and we will help you to move into the new house of your dreams! Scott DeSantis Team DeSantis RE/MAX Properties
 |
603-589-8800 SCOTT DESANTIS Team DeSantis RE/MAX Properties |
|
|
|
 |
603-589-8800 HOPE LACASSE Team DeSantis RE/MAX Properties |
|
|
|
 |
For special new construction financing, call |
 |
||
|
Team DeSantis | RE/MAX Properties
|
||
|
169 Daniel Webster Highway
|
||
|
Nashua, New Hampshire 03060
|
||
|
Phone :: 603.589.8800
|
||
|
Email :: Info@TeamDeSantis.com
|
||
|
|
||