What a New Home Buyer Should Know Before They Buy

Looking to buy your first home?  It can be one of the most exciting things you will do in your life, though before you make the leap, there are a few things you should know.

For a new homebuyer, the months leading up to your big purchase can be a time of excitement, fear and nerves, especially if you don’t have  guidance as to how the process works. But, you don’t have to feel alone, and there are some simple ways to ensure that you are making a smart buying decision and getting the new home you truly want. Take a look at what you should know before you buy your first, newly completed home.

  • Make sure your home fits your needs as closely as possible – Before you start looking for your ideal newly built home, consider what you want and need out of a home. Do you want a smart home? One built based on energy efficiency? Or one that is ideal for entertaining? By determining your needs and wants you can better determine the developments that you should look in for a home.

 

If you need help finding new developments in your area, take a look through the newspaper or through some popular online real estate websites.

 

  • Make sure your home is within your budget – Before you start looking for a home, you want to be sure that you have determined how much you can actually spend on a house. The best way to do this is to meet with a financial planner who can help you determine what a feasible mortgage payment would be for you. Then, find a lender and get pre-approved for a mortgage, which will help you to shop with more confidence.

 

  • Research the builder – Based on the community that you plan on looking into, you will want to do some research on the particular builder. Take a look at what communities the builder has completed before, whether or not there have been any claims against them in the past 10 years and what other homeowners have to say about them. Working with a reputable builder will be important both in the purchasing process and after you start living in your new home.

 

  • Participate in the pre-delivery inspection – The pre-delivery inspection is your first opportunity to view your new home after it has been completed. This is a good opportunity to not only get to know your home, but to make certain that it has been built exactly as your purchase agreement states. Several online real estate websites offer pre-delivery inspection checklists to help you ensure that you have assessed all parts of your home at this stage.

 

  • Learn about the warranties and submit all documentation – Typically during the pre-delivery inspection the builder will provide you with an information package about the statutory warranty and claims process for new homeowners. This package will also go over the responsibilities of the builder and the homeowner (you), so that there is a clear understanding of each party’s requirements. This documentation should be read through entirely and saved for future reference.

With proper planning and following the aforementioned tips, your newly built home will surely be all that you dreamed of.