The steps to buying a new construction home are generally similar to the steps involved in buying any other type of home. However, there are a few additional considerations to keep in mind. Here is a general overview of the steps involved:
- Determine your budget: Before you begin looking at new construction homes, figure out how much you can afford to spend. Consider your income, expenses, and any other financial obligations you have.
- Connect with a local lender who has experience with new construction loans. I am happy to share my list of preferred lenders with you, and recommend that you speak with a couple of them to see who can offer you the best rate and program to suit your needs.
- Get pre-approved for your loan so that you can shop with confidence!
- Research builders: I can help you identify builders who have experience and a good reputation for building quality homes in the areas where you would like to live.
- Explore neighborhoods: Visit the neighborhoods where builders are constructing new homes and determine which ones meet your criteria, such as proximity to schools, work, and amenities.
- Visit a model home or one of the builder’s current homes for sale to get a sense of quality, finishes, and overall construction.
- Select a floor plan: Choose a floor plan that meets your needs, preferences, and budget.
- Submit your offer! The sale agreement for a new construction home is slightly different than the contract for an existing home. I’ll walk you through the contract so that you understand all of the terms and various contingencies.
In some cases, the builder will require that the offer is submitted on their own forms. These contracts may vary greatly from the standard forms, requiring attention to detail and additional guidance along the way.
- Customize your home: Work with the builder to select finishes, appliances, smart features, landscaping and any other elements to make the home truly your own.
- Complete a home inspection (more on this below!) and sewer scope.
- Complete a final walk through with the builder to ensure that everything is in order for closing.
- Set up your utilities. I will provide you with a list of the service providers in your neighborhood.
- Closing: Sign your closing documents within one week of the closing date.
- Move-in: Move into your new construction home and enjoy your vision!
It's important to note that the new home buying process may vary depending on the specific builder, neighborhood, and other factors.