Blog Archives

Top Tips When Purchasing a New Construction Home

7/31/2019

So you don’t want to inherit used carpets? The idea of another person’s taste in appliances, paint colors and light fixtures not your thing? Some kid’s height chart etched into your closet doesn’t sound appealing? You must have made the decision to build your very own dream home. Before jumping in head first, check out these tips to protect you and ensure a smooth process:

Hire your OWN real estate agent!
- When you walk into one of those beautiful model homes the smiling face belonging to the agent at the desk works for the builder. As great as the intentions may be of that person, it is their fiduciary duty to act in the best interest of THEIR client, the builder. They are trained to use high pressure tactics to persuade you to sign contracts.
- Most of the time it will not cost you anything. The commission that is paid to your agent is built into the budget and will not change the price of the home whether you choose to use your own agent or not. So you gain a knowledgeable partner who is on YOUR side.
Research Your Builder
- In this information age obtaining knowledge on any subject is fairly easy. Look for trends in reviews on credible sites, walk the neighborhood and talk to neighbors about their personal experiences and research the history of the builder. Are they expanding in homes built or have numbers been decreasing?
Compare Mortgage Lenders
- Make sure you are working with a mortgage lender who is EXPERIENCED in new construction. Someone who is informed and educated on the process will be able to answer questions faster and give you a more solid pre-approval resulting in fewer issues down the line. Companies often offer incentives for using their preferred lenders but always research and check rates with more than one.
Don’t skip negotiations
- While most builders may not be able to do much in the way of purchase price there is always room for negotiations in a new construction contract. Often they will offer design credits, closing incentives, appliance packages and more. This is another reason having your own agent who is skilled and experienced in negotiations is very beneficial.
Verify your options
- Those beautiful model homes that lure you into the neighborhood are often NOT what you will be receiving. Ask the representative to spell out what exactly is standard and included in the base pricing and roughly the cost of the upgrade if you wanted to receive what it is your seeing before signing a contract.
- Verify what you are able to select, change or upgrade. Depending on the stage of the home when contract is signed or builder standards there may be certain elements you are not able to change.
Warranties!
- One of the perks of purchasing a new build is the home warranty. Before signing the contract and locking in a lot ask to view the contract and be clear on what exactly will be included.
Hire Your Own Inspector
- New homes have problems too. Building a home is a complex process with lots of room for error. The municipality that governs the land your purchasing will require permits and inspection before the sale can be completed but hiring your own qualified inspector is always money well spent.

Have any other questions regarding the process of new construction? Let me know below!

Arielle White
Arielle White is a Real Estate agent at the Gluckin Group.
To contact Arielle, email her at [email protected] or visit her Facebook page: www.facebook.com/ArielleWhiteRealty/

55 Comments

Workforce Housing Specialists: $1,000 Down payment Assistance Grant

7/23/2019

18 Comments

If you are in the market for a home and need assistance, please contact Realtors who are certified as Workforce Housing Specialists. These real estate professionals have been trained to understand and address your housing needs in your specific geographic area. They have the expert knowledge about local and state resources and are uniquely qualified and highly motivated to help you find the house of your dreams. The program focuses on those critical neighborhood workers — such as teachers, firefighters and nurses – who don’t earn enough to afford the average-priced home in the community they serve.

The requirements are the following:

Applicants must be employed by local, state or federal government, in the healthcare or education fields, or by 501(c)3 charitable organizations.
Household income limits apply (see income chart on application).
Buyer must be purchasing a primary residence.
One grant is allowed per household per transaction.
Buyer must complete a pre-purchase Homebuyer Education Program.
The grant is a gift and does not require repayment.
Buyers must be clients of a certified Workforce Housing Specialist, a certification program for REALTORS® with expert knowledge on the federal, state and local housing programs and resources available to serve workforce housing buyers earning less than the area median income.

Yanira Hernandez
Yanira Hernandez is the Broker in Charge & Realtor at Blue Endeavours Real Estate.
To contact Yanira, email her at [email protected] or visit the Blue Endeavours Facebook page: www.facebook.com/pages/category/Real-Estate/Blue-Endeavours-RE-619164098262243/

Top Tips When Purchasing a New Construction Home

Workforce Housing Specialists: $1,000 Down payment Assistance Grant

Interested in Living in Shepard's Square In Durham?

Archives

Categories