Avoid These 4 Mistakes When Buying New Construction
Planning a new build can be fun but sometimes buyers can get carried away in all the excitement and make avoidable mistakes. Here are 4 common mistakes made during the buying process. Mistake #1 Not Understanding EXACTLY What’s Included in your Build It can be easy to assume certain things are included in a plan when, in fact, they are not. For example, oftentimes basics like toilet paper holders and towel racks are not a part of the budget so it’s important to make a plan outside your build budget to allow for basics that aren’t included. Mistake #2 Not Shopping Around for Lenders It’s not uncommon for large construction companies to have in-house lenders, but it never hurts to shop around to ensure you’re getting the best rate and working with great customer service. Mistake #3 Failure to Understand Your Builders’ Warranties There are two types of warranties (express and implied) to be aware of when buying a new construction home. Express warranties offer detailed coverage laying out what is covered and what isn’t. It leaves no room for interpretation as it is precise in explaining what the contractor is responsible for. Conversely, an implied warranty is vaguer, highlighting the coverage offered based on building codes and standards. Know each warranty involved and know what you can expect if an issue arises with your new build. Mistake #4 Too Many Add-Ons That Don’t Increase Your Home’s Value Instead consider upgrades that will increase your home’s value such as flooring, roofing, or counter upgrades. Customizing your home is fun but try to be mindful of each decision and the costs associated with that decision so you stay within budget while also increasing the value of your home. For more information or to schedule an assessment call us at (850) 660-6900.