Buying a new home can be an intimidating experience, especially if it's something you've never done before. There are so many things to consider at each step in the process that can have a huge impact, so it's important to do your research beforehand. To that end, take a look below at the three tips for new home buyers, so you can feel confident in your decision when you finally put pen to paper and sign on the dotted line.
There are a huge number of builders in every area of the country with a wide range of reputations. An online search can turn up some useful information, but substantial reviews may be hard to come by. To get a real sense of a builder's reputation and the quality of homes they produce, visit a community built in the last five years and talk to any residents willing to share their experiences. Take notes on common issues and be sure to bring them up with the builder; problems might, for example, include faulty wiring or plumbing mishaps.
Work With Real Estate Lawyers
In the rush to find a reputable real estate agent, many new buyers overlook the need for a real estate lawyer until the last minute. You'll want to review the sale agreement and contract with a lawyer before you actually sign anything. While most contracts are standardized, a lawyer can point out anything suspect and let you know of changes that you will want to suggest to the seller. A prime example of this is arbitration clauses -- you'll want a lawyer to explain your legal options should you encounter a problem, who exactly the arbiters are, and if they have a track record of being pro-consumer. Arbitration clauses aren't always included in a contract, but it's good to negotiate various aspects of them if they are. So while legal services certainly aren't cheap, they are very much worth it in both the short and long term.
Shop Around For Financing
While a builder's financing options are often the best deal, it may very well be the case that better deals exist elsewhere. As a customer, you're free to shop around and find the best financing options on the market. You can even use the builder's financing terms as leverage to negotiate for a better deal with a local bank. The more you research and compare, the more likely you are to save money.
For more information and ideas on new homes, contact a community like Crooked Tree Preserve.