New construction homes have been taking over the real estate market with no signs of slowing down. And that makes a lot of sense considering all the benefits a new home brings.
But the process for a home buyer is a little bit different than with an existing house. It's a good idea to make sure you understand the process before starting. The last thing you want is to feel overwhelmed in the middle and have to backtrack.
Luckily, you have experts like us to help you through! Check out this guide with everything you need to know about building a new home.
Check Out Builder Options and Plans
The first step to getting your dream custom home starts with some research. Check out your local real estate market to see what developers are working on.
After you have seen a couple of builder options, you can start to check out their plans and options. It's helpful to tour some of their existing homes to see what you like or don't. You can also get inspiration from some luxury homes for your new build!
Thoroughly Read the Contracts
Once you've found a builder and a plan you like, it's important to read through the contract. This is going to give you the best idea of what to expect from them.
This kind of contract usually covers details about the plan and checkpoints through the process. Be sure to read the fine print so you understand exactly what you need to do.
Figure Out Your Financing and Budget
A tricky aspect of new builds is that the price is very variable. Each change or upgrade to the plan affects the final cost. And that means it can be very easy to go over budget (especially if you love luxury options).
Before you sign any contracts, you'll want to have all of your financing in place. This process is very similar to buying an existing home, though there may be a couple of extra steps.
Having that number in place can help keep you on track as you make decisions on the build.
Stay Involved Through the Building
Sometimes the building process can feel overwhelming. There are so many moving parts, it can be hard to keep up with what's going on. But do your best to stay involved!
It's an exciting project to be a part of by itself. Then factor in that it's the place you'll be living, you definitely want to see each step progress!
Everything to Know About New Construction Homes
Buying new construction homes is a huge opportunity for homeowners. Especially those who are looking for their dream, forever home. These options allow you to create a space you truly love and that works best for your family.
The key to having success is working with a great realtor. Their knowledge and experience will make the whole process much smoother for you.
At PMI Austin Experts, we care about finding the right home for our clients. We work hard to make sure you get the most favorable terms and have a happy experience. Contact us today to get your search started!
