Building a new home can be so exciting, especially in a development you really love.
Hi, I’m Sherri Echols, Broker Associate with Better Homes and Gardens Real Estate Preferred Living and I want to share with you a few great questions to ask at your first appointment with the builder. By the way, you should always bring your realtor along on your first visit or the builder may refuse to work with your realtor. The builder pays for your realtor to represent you and there is no reduction in price for not having one represent your interests. So bring your realtor to cover all your bases, level the playing field a bit, and have someone helping you with the details.
Ok, smart questions to ask … Are the taxes increased for the area, or are there Mello roos. What if any do they allot for upgrades? Remember the model home you see is packed with upgrades. If you fall in love with it, be sure you understand what the most common upgrades will cost you and what the most common upgrades are. Your realtor can help you select upgrades that will improve resale value down the line.
Does the builder have a relationship with a specific lender who may be able to offer you incentives? I know on my last new construction deal my clients were able to receive 1% of the purchase price back at closing for going with the builder’s preferred lender. No one mentioned this to us but I knew to ask. Are you planning on a corner lot or being near a park? Ask if that lot incurs a lot premium. Can you have a third-party inspection? Will you be building in an initial phase or a late phase for your area? This impacts whether you’ll be living amid construction noises for the next few years and also, typically homes that are in the earlier phases of the development will see higher increases in equity than homes being built further in the building phase.
There are so many more important questions to ask to help you go into a new build with a clear eye and a solid idea of what to expect in terms of money, timelines, and the entire process. I’ve seen how easy it can be to get swept up in the excitement and it IS exciting! So let’s make sure we stay on top of the process every step of the way.
Bryan College Station has a lot of really cool new-build neighborhoods going up right now. If I can help you choose the right one for you, give me a call, and let’s go check some out. Reach out to me and I will make sure that your best interests are served!! And as always, make it a great home buying and selling day.
