What to consider when buying a new construction home

Posted by Mike Brown Group on Monday, March 7th, 2016 at 10:19pm.

Buying a new home is always exciting and sometimes it’s thrilling to know you’re the first one to inhabit a newly built home. As you’ve probably noticed, there’s a lot going on in the Treasure Valley new construction market. Lack of inventory of existing homes is creating a noticeable demand for housing, thus creating a strong need for brand new homes.
There are many benefits to buying a brand new home, including energy and cost savings. Today's new homes are far more energy efficient than homes built just seven years ago. New homes may also offer advanced technology and design, saving you time and money.Customizing a home to your exact wants and needs can be a very rewarding experience. If you’ve been thinking about building a new home, here are a few things you should know:
You can buy a brand-new home in one of three ways: buying a house already built (spec home); having a home built as part of a development (you can choose from a set palette of finishes and upgrades), or having a custom home designed and built to your exact specifications.
When deliberating the purchase of a new construction home, you may want to consider:

  • Driving around the neighborhood and checking out the amenities and the quality of the homes.
  • Walking the community. Ask current homeowners about their experience.
  • Going to model open houses and taking notes and photographs. Also, consider taking video with your smartphone of things you like.
  • Checking with the developer or your Realtor about potential homeowners' association (HOA) fees and rules find out if what you're looking for fits with what the subdivision allows.
  • Visiting your builder's previously constructed homes; ask the occupants whether the craftsmanship has stood up to time, use and weather.
  • Have your Realtor ask the builder about amenities and upgrades.
  • Get a feature sheet on the line of homes you're interested in and then compare feature to feature. Find out what comes with the base home price.
  • Ask your Realtor to research the zoning laws for the neighborhood, to see what's in store for a particular location and ask your agent about plans for the area.

If you don't understand exactly what the builder is offering, ask questions—both to your Realtor and to the builder. It’s always best to make sure you feel completely confident in what you’re buying and how the process works. New homebuyers have the option of using the builder's lenders or find their own financing. Sometimes builders have preferred mortgage lenders who may offer help with closing costs or pre-paids for your new construction home. Ask your agent for information on special funding programs available for first-time buyers. You might want to consider contacting at least two lenders and compare terms, fees, rates, and points.

Sometimes you’ll save yourself money in the long run if you take advantage of builder upgrades instead of waiting for a while after purchasing your new home. For instance, if you love to entertain and have amazing culinary skills, it might make sense to splurge on the appliances you know you really want and you’ll love for years to come. Most everything can be customized in a new construction home, including cabinets, hardware, lighting, flooring, and paint. If you can dream it, most likely your builder can make it a reality for you.

We have some phenomenal builders in the Treasure Valley who are utilizing state of the art materials, effectively using space in a way that is efficient and economical, and who are implementing ecologically advanced and green technologies.

Want to learn more? View all of our new construction listings and preferred builders by clicking here

As always, if you have any questions about Treasure Valley real estate, we’d love to help answer them. Whether you’re looking for a previously built home or want to build the home you’ve always dreamed about, we’ll help you every step of the way.       

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