If you want to buy a new home that has just been constructed, it is important that you do your due diligence before finalizing the sale. Here are three tips that will help you make a smart purchase when you buy a new home.
#1 Have The Home Inspected
The are many new homes for sale, and it does not matter if you are buying a home that was just built last week or a hundred years ago, you should always have any home you are interested in buying inspected before you finalize the sale. A home inspection generally only costs a couple hundred of dollars, and can provide you with invaluable information and reassurance.
An independent home inspector will make sure that the new home you are interested in purchasing is up to code. An independent inspector can also identify any areas of the home that need a little work before the builder is done with the home. Building a home is a large, involved process, and it helps to have someone with an outside perspective inspect the home; it is the best way to catch any little issues that need to be fixed before the sales is final.
Most quality builders welcome an independent inspection of any home they are building, and are more than willing to fix anything that the review brought up. They want the homes that they build to represent their name and brand, and that means fixing any issues before finalizing a sale.
#2 Be Willing To Negotiate
Just because a home is new doesn't mean that you can't negotiate over the terms. If you want to ask to lower the price or ask the seller to cover closing costs, there is nothing wrong with asking.
Sometimes, large construction companies will urge you to go with their in-house lender and will offer you perks for doing so, such as free upgrades up to a certain dollar amount. Be sure to investigate the lender and terms, but it if is agreeable, that is a great way to negotiation your way towards those granite counter tops in the kitchen or building a shed in the back for your garden tools. Negotiating can help you ensure that you get the home that you want.
#3 Get Pre-Approved First
Finally, if you find a home that you love, before you commit to the property and start working on purchasing it, go and get pre-approved for a loan. Getting pre-approved will allow you to figure out how much you can spend on a property and new home and still get loan terms that are favorable towards yourself. Do not fall so in love with the idea of a new home that you agree to a loan term with outlandish internet rates and terms; understanding your budget will help you choose the best new home for your finances and your lifestyle.