The Top Pre-Construction Home Buying Tips
Are you looking at buying a pre construction home? If you’ve decided that these homes are for you, you’ll already have found that the buying process is slightly different. Here’s some of the best tips for buying such a home, so you can ensure you get just what you need.
Check Out The Amenities
As you went on tours around potential homes, you’ll have seen that different developments have different amenities on offer. There’s all kinds of things on offer, and they will have an impact on which home you buy. When you’re deciding on the home you want, think about the amenities that they’re offering. For example, Park Grove Miami is offering a roof top pool deck, aromatherapy sauna and steam rooms, and a spa for residents.
Are the amenities something that you would love to have on your doorstep? If one development has amenities that are useful or desirable to you, that’s a sign that you should consider it.
Research The Developer
One thing you must do before signing on for any home is to research the developer building it. There are lots of different developers out there, and of course they want you to buy your home with them. That doesn’t mean that they’re going to be the best out there, though.
Get online and start looking into the developer. What have previous buyers had to say about them? There should be plenty of reviews and testimonials for you to check out before you think about buying with them.
Consider The Location
Something most new pre construction developments have in common is excellent locations. Every development will be perfectly placed for something, you’ve just got to decide if its right for you. For example, families may want a home that’s near good schools, while couples may want to be in the heart of the nightlife of their city. Taking the Park Grove pre-construction condos for sale, you’ll see that they’re located in an area with gorgeous beach front views. Everything offers something different.
What’s great about the location you’re looking at? Is the home in the right spot for you? Consider whether it fits in with your future plans too. Being in the heart of the city works now, but if you want to start a family, will it work around your new dynamic too?
Get In Early
One thing you may not realise about pre construction homes is that the earlier you buy with them, the cheaper your home will be. The developer wants to bring new residents in, and so they’ll give early adopters special rates on the homes on offer. If you can get in early enough, you can knock a good amount of money off your budget.
Be aware though, sometimes developers hold back their best homes until last as they want to get the most money for them. Ensure that the home you’re looking at is the right one for you. Is it better to wait and pay a little more for a home that is perfect for you?
Put Together A Larger Down Payment
As you’ve been researching homes and down payments, you’ll have seen that pre construction homes require a larger down payment than most. Most pre construction homes need a down payment of around 20%, while a resale home can be as low as 5%
That doesn’t mean you have to have the whole amount at once. Most developers will take the fee from you in stages, spreading the cost out. Talk to the developer to see how they would arrange these payments. It may work out in your favor.
Get Everything In Writing
As you walk around the model home, be aware that in some cases, you’ll be seeing the optional upgrades that are available for purchase. If you see anything you like in particular, make sure you speak up and ask about it. You’ll need to know if it’s something you can expect in your home, or whether it’s an upgrade. Make sure you get this in writing. Once you get your new home, you want to be sure that you’ll get what you want in it.
Be Ready To Make Alternative Arrangements
You’re waiting for a new home to be built for you, and you’ll have that estimated finish date for it. However, sometimes circumstances conspire to delay the completion of the development. If that happens, you need to be ready for it.
If you find that completion is delayed, then you need to have an alternate plan in place. If you need to move out of your own home at a certain time, can you move in somewhere else until the home is completed? Perhaps you can rent a place, or move in with family or friends until the home is ready to be moved into. Having these plans in place will help negate any stress should the move in date be delayed.
Check The Warranty
Before you sign for that new home, take a look at the warranty they’re offering you. Is it the same as other developers are offering elsewhere? You want to ensure you’re covered, should anything go wrong with the home the first year you’re there.
These tips will help you get the best deal on a new pre construction home, and ensure that you’re totally happy with it. Do your research, and you’ll be sure to get just the home you wanted.