The FOCUS on NoVA Real Estate® Team discusses the initial considerations when buying a new construction property.

Today we are talking about new home builds and the things to consider when you are considering buying a new property.

The first consideration is whether you want representation from a buyer’s agent. When you get to the new construction community the sales person that is going to show you the property may or may not be a licensed agent. Know this for sure, they represent the interests of the Builder and not you. You will want someone in your corner to help you understand what it is you are signing. Additionally, and keep this in mind because it’s critical, the commission the Builder may offer a buyer’s real estate agent for bringing a purchaser to the table will only pay that commission if the agent is with they buyer the first time you visit the community. If your agent is not with you on the first visit, you will forfeit that builder-paid commission and be responsible for paying your real estate agent’s commission out of your own pocket.

The second thing to consider are the incentives that a builder may have when you use their title company or mortgage company. There is typically cash towards closing costs, as well as upgrades to the property to include: a finished basement, different appliances, and military discounts if available. There are different ways that you can get more value for the property.

Lastly, consider these inspections. There is a time before the builder closes up the interior of the property with drywall where I highly encourage you to get a pre-dry wall inspection with a licensed home inspector certified to do new home build inspections. They will make sure things are tip-top before they are hidden away behind drywall. While contractually a builder does not have to make corrections or repairs, most builders really want you to be a satisfied customer and take care of the issues. The second time to do an inspection is about a week before closing. Your home inspector can go back through make sure that everything is in tip-top shape and that you are getting a product that you are expecting.

There is a lot more to new home building and we are happy to help you sift through the specifics. Contact us today.