How To Buy A New Construction Home

Question Of The Day: HowTo Buy A New Construction Home?

Are you ready to build your dream home? Buying a new house is a thrilling experience,but building a new house is a whole new level of excitement. Inthis new video, Corcoran Connect founder and top-notchrealtor Jeanine Corcoran shares five expert tips on how to buy anew construction home.

A new construction home is a home wherein the buyer is the firstoccupant. The buyer can purchase the land from a developer and thenwork with a builder for customization and construction.

Buying a new construction home is a milestone, but it can alsobe a complex process, especially for first-timers.

Jeanine’s Top NewHome Construction Tips

Tip #1: Use ARealtor

Your real estate agent is your partner and representative. Theirjob is to help you navigate the ins and outs of building a home.They can represent you during negotiations with the builder or theinspector, among others.

Jeanine notes that one of the things they do for their clientsis to help them review their contract, so they are well-informedbefore making a major commitment.

Tip #2: Know The Costs ofThe Home

Do you need to pay a lot premium? How much will an extra bedroomcost? These are just some of the cost factors you need to thinkabout.

When you go to the design center, it is easy to get lost in allthe tempting cosmetic options available. But you need to go in witha set budget and a list of priorities. Jeanine recommends focusingon the kitchen and flooring. The rest can follow, with more timeand budget.

Tip #3: Negotiate withThe Builder

Do not be afraid to negotiate with the builder, even ifit’s not something they are looking forward to. Buildersnaturally want to keep the home value up. If they do not agree withthe negotiating the price, they may, instead, offer credits thatyou can use for design and customization.

One of the perks of having a realtor is that they can handlethis for you if negotiating is not your strong suit.

But Wait, There’s More.

Tip #4: Know Your ClosingCosts

Before signing up with your builder’s preferred lender,shop around and compare the rates. You can also ask your realtorfor recommendations. Some builders may offer to pay a substantialamount towards your closing costs as part of an incentive offer.But this may also mean that you must sign up with their preferredlender with higher interest rates and fees.

You should also list anticipated costs including title policyand builder’s fee, if applicable.

Tip #5: Hire AnInspector

According to Jeanine, over 50% of buyers opt not to get aninspector when buying a new build because they usually have awarranty with the builder. But if you are already investing in newconstruction, you may as well think long-term. An inspector canidentify issues that, if left unchecked, can cost you more time andmoney down the line.

Additional note: For new construction homes, an inspector mustcarry certain insurance and qualifications to be approved by thebuilder.

When It Comes To Homes InCentral Florida, We Are The Experts

In any real estate transaction, it’s ideal that you workwith a realtor. It is particularly important if you are buying newconstruction. And if you are looking at homes for sale in CentralFlorida, your first order of business should be to call CorcoranConnect.

Jeanine is a Saint Cloud realtor, but she and her team can helpanyone who wants to buy, sell, or rent property in Central Florida.They are renowned industry veterans whose deep-rooted knowledge ofthe local communities gives clients a strategic edge.

Check out the website to learn more and follow CorcoranConnect official YouTube channel for more handy real estatetips.