You’re on a model home tour in the most beautiful community. It has all of the amenities you are looking for, it’s minutes away from the local school, and the morning commute would be a breeze. After visiting, you decide that this could be a dream come true.
Before you put down a down payment on the gorgeous lot of residential real estate, read up on Ryan Homes at Brunswick Crossing’s few thoughts that no one tells homebuyers about the building process:
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You should budget for more than the base price. Many real estate agents sell homes at a base price suggested by home builders based on market conditions and other factors. However, homebuyers tend to forget about budgeting for potential upgrades. While options vary from builder to builder, most homebuyers should ask upfront about which upgrades are available per lot and per model to avoid paying more out of pocket. Speaking of upgrades…
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Models are beautiful, but not everything you see is standard. While model homes look flawless, their purpose is to show potential homebuyers what a home could look like. Think about it: Hardly anyone wants to visit a home with blank walls, no appliances, and dull paint. A decorated space gives potential buyers a warmer, more inviting impression; so if you see something you love on a home tour, ask the on-hand realtor if it comes standard.
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Double- then triple-check the warranty. Many homebuilders will offer a 10-year warranty as protection against future damage, but there have been a few cases of false security. It’s a wise idea to ask for the paperwork regarding your new construction home’s warranty. Look for specific exclusions on appropriate claims and how the warranty compares to industry standards.
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Your current house might not sell during the building process. Homebuyers may be able to get financing to purchase a new construction home before selling their current house, but there should always be a back-up plan. Market fluctuations, appraisal problems, and financing issues could all delay the selling process. If your current home doesn’t sell in time, consider renting it out or temporarily making both house payments.
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Everything might not go so smoothly. Though most builders do try their best, no home is ever built perfectly from start to finish. It’s normal for a homebuyer, especially a first-timer, to have concerns with weather delays, subcontractor issues, and building material mix-ups. To avoid any major surprises (and the subsequent stress and frustration), ask the homebuilder for a single point of contact for in case of emergency, and visit your lot as often as you can during the construction process.
Tip: Pay attention to detail by using a tape measure to check that rooms are the right size, kitchen cabinets are in the right place, and more.
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The before and after pictures will starkly contrast. It’s important to remember that your home will always look “worse” before it looks better. This means you will stare at drywall, wooden frames, and electrical wires for a few weeks before the beautiful decorating ensues, but it will all be worth it when your family finally moves in.
Whatever you do, don’t rush the homebuilding process. Visit a few different models in a couple of neighborhoods, talk with various builders, and consider multiple upgrades and floor plans for your dream home before putting down a deposit.
Once you choose a vision, visit the site often and patiently wait until all of the loose ends are tied up in a nice, neat bow. While you anticipate a move-in date, get your financing in order and begin selling and packing up your old house.
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