Considerations for New Construction Homes
New construction homes are sometimes a very good value and come with the benefit of newer efficiencies and modern finishes. If you are in the market for a new home, my services can be of great value.
Negotiations
I am typically involved in the original negotiations involving purchase price, incentives, and financing. Keep in mind that the builder is focused on appraisals to keep their prices level, so there is not as much flexibility on their end with the purchase price as there is with incentives and financing opportunities. It may be more fruitful to ask the builder to pay to buy down your interest rate or add things like appliances or fencing than to try to lower the price. My relationship bringing multiple buyers to the builder gives me more leverage to help you get a better deal. Common misconception ' you get a better deal if you don't have a realtor ' couldn't be more wrong. I have actually come in after the customer has negotiated their best deal and gotten them an even better deal.
Building process
I will be checking on your home at the different stages of construction to make sure your options and choices have been included in the build. There will typically be 3 significant stages in which the home will need to be walked by the customer. I typically attend these walks and assist the customer with this process.
- Framing ' this is when the framework of the house is complete and the plumbing and electrical rough work has been done. You will be able to see where all the outlets and fixtures are located, and this is our chance to confirm everything is in the right place before the sheetrock has covered everything up.
- Finish walk ' this is typically about 1-2 weeks prior to closing and allows us to walk the home and point out the imperfections and items that need to be addressed prior to closing.
- Final walk ' this is typically just prior to closing. This is a final inspection to make sure everything on the punch list from the previous walk has been completed. If there are any outstanding items, the builder will either quickly complete them, or provide a document at closing insuring they will be completed after close.
Inspection
It is strongly suggested that a new home buyer invest in an independent inspection at the finish walk stage. Just because it is new construction doesn't mean that the home is perfect. I have had many items come up at inspection saving the customer the pains of trying to come back to the builder after closing which can be much more difficult and tedious. Some of the things that my customers have discovered during this inspection are: Roofs incorrectly installed, live electrical wires and receptacles covered by sheetrock, non-working outlets in the home, leaky drain traps under sinks, missing duct work in the A/C system, etc. Keep in mind that we need to have your inspector approved by the builder. Most of the local inspectors are already on the approved list; but if not, we will need to have the inspector provide license/insurance info to be approved to go on property and inspect the home. This could take a little time, so making arrangements well ahead of the home's completion is suggested.
Warranty
The builder will provide and explain their warranty typically at the final walk. Some builders subcontract their warranty out to a 3rd party and some have an in-house warranty division. The warranty procedure must be followed as it is laid out in the warranty instructions which usually includes an online registration and request process. Please register your warranty right away and be familiar with the process so that you will be ready if something comes up. It is always more difficult to have things addressed after closing than it is before-hand which is why the home inspection is so important. Once the builder has been paid, you are moved to a different (and not as urgent) status.