There is nothing like a newly constructed home. When glancing at a brochure or walking through a model, it is easy to become distracted by the attractive advertising. Allow us to help you assess the project objectively by reviewing the purchase agreements, addendums, layouts and comparison sales
It is easy to be lured by the ability to customize your floor plan and be the first occupant of a property. Before you commit, be prepared with the right questions to ensure the quality of your purchase.
Cost without Upgrades – Model homes are often filled with every high-end upgrade. Feel free to ask how much the model costs as you see it. Advertised starting prices will vary dramatically from the final upgraded price.
Developer’s Track Record – Investigate the developer of the property. You want one with a successful track record of building quality homes and substantial financial resources to ensure that it is done right. Check the official record for any complaints.
Resale Vale – New Construction does not guarantee quality or price appreciation. You should look at the profile of the surrounding area and REQUIRE A HOME INSPECTION. This will help you identify defects and lack-luster workmanship.
Review Surveys and Floor Plans Carefully – Make sure your developer gives you a copy of this to ensure that your home does not lie on any disputed areas or near something that will be constructed later that you might object (like a sewer treatment plant or shopping mall).
Buying Before Completion – Some pre-constructed sales may offer discounts, but that can carry risk. Especially during tough economic times, a developer may not be able to finish the project leaving you with only a promise.
Punch Lists & Final Walk Through – Insist on a final walk through before closing on your new home. Have a checklist ready of any potential problems and have the developer attend to them before taking possession. This helps reduce future problems