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Real Estate Tips

4 Things You Should Know about Buying a Newly-Built Home

Posted on Wednesday, May 10, 2017

Should you buy a home that has just been built? 

Buying a new home is a dream come true. Buying one that is completely new and potentially customized for your needs is even more compelling. Are there any downsides to purchasing a home that has never had someone living in it before? Before you buy a newly-built home, here is what you should know. 

1. The Neighborhood May Not Be Finished 

If you are buying a new home in a neighborhood of new homes for sale, you are moving into a work in progress. While your specific home may be complete, you could find yourself in the middle of a construction zone for other houses in the area. 

Also, there is the larger issue of the community. When you move into an established neighborhood, you can ask neighbors and your realtor what kind of neighborhood it is. When you move into a completely new neighborhood, it is not finished yet. You will not know what kind of neighborhood flavor there is until it is populated, and even then, it can take some time for that culture to evolve. 

If you like to know about the feel of the neighborhood before you move-in, a completely new home in a new neighborhood may not be for you. Then again, if you like to be the person who is setting the neighborhood culture, an entirely new neighborhood could be just what you want.

If you buy early, you may be able to customize some parts of your new home. 

2. You Can Add Personal Touches 

According to Bankrate, "with a new home in an unfinished neighborhood, the labor and materials are still on site." This means that it is far easier to customize your new home. Normally, when you purchase a home, you also look at what kinds of renovations you need to make in order to make the home livable for you. With new home construction, builders are often willing to negotiate and add some of the features that you want. For example, you could ask for different paint colors in the bedrooms so that you do not have to change the paint colors when you move in.

3. It is Up To Date 

In a neighborhood of new homes for sale, you will find homes with the latest in home technology. For instance, if there is a new fridge that is very energy-efficient, it is possible that your new home will have one in the kitchen. 

New homes are also designed in the current style. According to Forbes, "new homes come with some of the design elements that today’s lifestyle demands: open, eat-in kitchens, walk-in closets, and large master baths to name a few." Your home will be cutting edge, at least for a while. 

4. There Is More Paperwork 

New homes also have a warranty, so if one of those new features goes wrong, you may be able to ask for help fixing it. Then again, you also need to look at the fine print. If there is an arbitration clause in your contract, you may be forced to approach the builder for help. Arbitration can be a simple process, but the simplicity of the process depends on the willingness of both parties to negotiate. 

Before you buy a new home, check to make sure that the builder of the home has a strong track record. Before you buy, you also want to confirm what kinds of home amenities and neighborhood amenities are planned. Get this list in writing so that you are delighted and not disappointed by your new neighborhood.

At Open for Homes, we are here to support you in your search for a new home. Whether you are seeking an urban apartment or a sprawling home in the suburbs, we have options for you. Connect with us to search for properties, and visit the blog at Open For Homes to learn more about your home buying options.