Building a new home can be both exciting and challenging: challenging because of the many decisions required and exciting to create your dream home. Below are tips to help understand what is involved in building a new home and ways working with the Expert Real Estate Team can help you work more effectively with a builder.
When Selecting Your New Home
- Bring your Realtor when Visiting with the Builder. The first time you visit with a builder or a new home community, bring your real estate broker who will help you work with the builder. You are spending your money and investing your time in building your new home so take advantage of your realtor’s new construction experience, insight into working with builders, and negotiating skills. Having someone on your side to help you work with the builder is an advantage to you. Builders have the real estate broker fee built into their pricing yet won’t deduct it if you decide not to use them.
- Know what is included in a base model and know what upgrades will cost. A home builder should give you a list of what is included in the base model of a home. Keep in mind when you visit a model home, most feature upgrades and these can be expensive. For example, if the woodwork is painted, is the color in the model the standard or an upgrade? Are all recessed lights shown included? Is the garage interior finished? Is the wall texture standard? A real estate agent will know the questions to ask and be able to help you review the upgrade list to help you understand what is standard and what may be a good investment to make upgrades in the home.
- Consider the location of the lot. In a new home community, certain lots are considered better than others and those particular lots can be more expensive. For example, lots that are considered to be more private, or have waterfront or golf course views. A real estate agent can help make you aware of these costs and help you choose what is right for your budget.
- Additional Costs to Consider. When building a home, consider other costs that are not included in the builder’s price – the cost of new appliances, window treatments, landscaping, and others. Working with a knowledgeable real estate agent will help you realize these extra costs and prepare for them properly.
- Writing a Contract. When writing a contract, you will be required to use the builder’s contract written by their lawyers. Your real estate agent can help you to understand the terms set out in the contract and how they will affect you. Get a list of deadlines for selections you need to make and know what comes standard and prices for the upgrades you select. Also, ask if the builder is offering any incentives, which could include upgrades or price reductions.
The Build Process
- Stay organized. Keep all important paperwork including product selections, contracts, and change orders in a safe place. Make selections for paint colors and fixtures early so you don’t delay the building process and sign off on selections only when you are certain. If you change your mind, most builders will charge a fee to make revisions.
- Ask for samples of the products you choose. When visiting with vendors, request samples of the selections you've made for paint, cabinets and flooring. Make sure to bring those samples with you to ensure all the items you select throughout this process work well together.
- Visit your home during the build. Visit the site regularly to ensure your home is built to your specifications. Make sure you know who to contact should you have a problem during the building process.
Building a home can be a rewarding process but it can also be a stressful process. Work with a real estate agent to have someone represent you during this time. It’ll be worth it in the end. Contact the Expert Real Estate Team today to find the home you’d like to build today!