Thursday, June 23, 2016

Avoid These 3 Problems When Building a New Home

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One sure sign that our real estate market is booming is the recent rise in new home construction. Home building is at a 10-year high and there is no doubt that buying a newly-built home is a great investment. However, there are some things you need to be aware of to avoid making a bad investment.

Many people looking at new homes are ready to purchase right away, and don’t understand that they need a Realtor to help them. The on-site agent for the new home doesn’t work for you, they work for the builder. With a purchase this big, you want to have someone on your side looking out for your best interests.

With a purchase this big, you want to have someone on your side.

When you’re buying a new home, it’s important to do your research. Make sure the builder is in good standing with the state and ask them to verify their licenses, insurance, and more. Ask about any independent contractors they use, if they use them at all.

The final thing you want to do is make sure you read the fine print. Most real estate builders don’t use standard purchase agreements, but instead have their own document drawn up. Read it carefully, and have your Realtor (and possibly attorney) read it too before you sign anything.

Finally, check out all the warranties to make sure you know what’s covered and what’s not. Now is a great time to invest in the American dream of homeownership, you just need to make sure you’re protected at the same time. If you or someone you know is looking to buy a new home, give us a call or send us a quick email. We look forward to hearing from you!