Thinking about buying new construction?

Real Estate

Buying new construction does not mean that every detail will be perfect. It is important to ensure that your home is built to the highest quality standards and you should do your own du diligence before signing any contracts. These are some practical pieces of advice to consider when looking at these types of properties.

Where can I check the builder's previous work?

Seeing previous work from the homebuilder can give you some sense of the final quality of the work.  It is important to talk to homeowners about their experience, check reviews about the builder, Estate licensing boards and local agencies to determine any possible trouble the builder might have been involved. 

Which features are standard and which are optional?

When you visit a model home most of the time it shows the  best possible upgrades the property could have. It is very important to find out what comes standard with the construction and what are the upgrades you can get. To estimate the true cost of your property, have the builder’s agent point out what is standard, what are upgrades and the price of each of them.  Find out if you can add the optional features to the particular floor plan you are interested in, since not all floor plans might accommodate some special features.

What does the warranty cover?

New construction usually comes with a warranty.  Just because it is new, does not mean that nothing will be wrong.   Understand what is covered under each warranty, how long will it be in place and if it can be extended.  You should also find out how the builder is willing to face any issues or problems that may arise after you purchase the property.  It is also highly recommended to hire a third-party home inspector.  If you recently purchased a new construction home and you’re still within your warranty period, hire a home inspector.

Other  important issues to considered.

Get quotes form of lenders and closing agents and decide the best option. Hire a lawyer to review the contract, since often times they are very complex.   If it is possible, work with a real estate agent. The seller typically pays the commission, it costs nothing to a buyer to be represented by a real estate agent who can give you good advice and help you throughout the entire process. 

 

Topics: New Construction, Investing In real Estate, UNA Residences, Botaniko Weston, Key Biscayne new homes, Invest in Florida

About the author: Beatriz Rocha is a real estate professional affiliated with Coldwell Banker www.bearocha.com