When you are in the market to buy a home, you have a choice: purchase a brand new home or buy a home that has been or currently is a home for others. There are distinct advantages to each one. In this article I’ll provide you with some hints for what you should do and what you should watch for when you decide move ahead.
Real Estate Agent – Get your own. Do not negotiate directly with the builder or the sales folks at their sales center. Those sales people are compensated by the builder or developer and they are paid to sell you the home as fast and for the very least work or effort on their employer’s behalf. Get someone that will be working for you!
Look for Bad Weather -Wind and rain can be your friend before you buy. Visit the home when the weather is bad so you can tell for yourself whether (no pun intended) there are any leaks, loose shingles, siding or other weather-related issues. It is far better to find out while the builder is still on the hook to fix these items at their expense, not yours.
Inspector Gadget – Don’t assume all is well just because the home is new. Hire a certified inspector. If they uncover just one major flaw or building fault, you will have saved many times over their cost. And if they do not find anything, then you will have just purchased piece of mind.
Action before Closing – Do not close on the home if there are some major issues still unresolved. It would be acceptable and your call to proceed with closing if there are a few minor issues still outstanding on the punch list from you last walkthrough. This of course is your call. But any major issues require action before you take ownership. Either get them fixed or get a commitment in writing from the builder that these things will not only be taken care of, but get a commitment date for completion and some type of compensatory language if the work is not completed.
Growth May Not Be Good – If you are shopping for a home in an area that is quickly growing and expanding, you may want to think twice. If there is a lot of expansion and building taking place, you have to assume that it will continue into the future. This will affect many things and you should consider these before you buy. Schools – will your children be forced into an overcrowded school with trailers on the campus? Or will you child have to change schools several times as the city or county builds and tries to keep up with demand?
I Just Love Trees Behind my House – One thing that happens more often and gets more complaints is from someone that buys a house that is adjacent to trees or open spaces only to see that land converted from a natural serenity to a new neighborhood. Good by trees! Before you settle on that great scenery, do yourself a favor and find out who owns that land and what their intentions are for it. Buying that great home with secluded woods could turn into the house behind the Mickey D’s drivethru window in just a few years!
By: Jeff Runyon
Tags: Brand New Home, Buying House, Developer, Punch List, Shopping