The two words on every buyers lips: new builds. I know, I know, it sounds like a bright, shiny new toy that will be the best in the neighborhood. I want to take this time to give you valid considerations before you submit an offer. Some agents love new builds, others avoid them like the plague. You are probably thinking, "Why? It's just a newer house, isn't it?" Well, yes and no. Here are some things you need to know about new builds before you purchase one.
1. New build homes often come with their own unique contract.
Given that the home is brand new, and maybe not fully finished in construction, it is most likely being sold by the builder directly. Builders often hire lawyers to write up a new build sales contract instead of using the standard contract used in the majority of resale home transactions. And at the end of the day, the builders and their lawyers want to put themselves in the best position possible within the transaction. So, you and your agent must take extra care to really comb through the contract presented.
2. You should still get a home Inspection for your new build.
"But Jillian, it's new!! How could anything be wrong with the house?" Because humans made it, and humans make mistakes! Trust me, as a new build owner myself, I have found things to repair just like every other homeowner out there. It's called a "New Build", not a "Perfect Build"!
3. Find an agent who is experienced in dealing with new builds.
Again, New Builds are different from your average residential purchase, so you want to go in confident knowing that your agent is equipped to handle your transaction seamlessly. An agent practiced in New Build negotiations/contracts will know the proper language and loopholes that put you in the most favorable position possible. Remember the builder and their lawyer drafted this contract, so it's geared toward their favor. An agent experienced with New Build transactions can also use things like home inspections to work in your advantage.
To wrap up, don't be afraid of New Builds, be prepared. This is a whole different ball game compared to a standard home purchase. But if it's the home of your dreams, you won't mind putting in a little extra work to get there. Read your contract, schedule that home inspection, and find yourself an agent who speaks New Build (hint, hint, you've got an agent right here!).
Til' Next Time,
Jillian
