This past year the housing market saw some of the lowest inventory for previously owned homes. This drove resale home prices way up. It also moved many folks to look into buying new construction. So know that if you are in the market for buying a home, there are many benefits to new construction.
A few reasons for a new build include getting more decision-making power, customization to the style you like, lower maintenance, and everything is new. But like any big decision, there is a lot that goes into preparing to buy or build new construction. Here is a guide to help you have the most successful experience.
Choose the Construction Phase.
Even with new construction, there are different options to consider. You can start from the very beginning by choosing a plot of land or lot in neighborhood development. There is also the option of doing a completely custom build, choosing a home from a set of plans where you have some style options, or purchasing a spec home.
Buying New Construction: Hire an Agent.
This is especially important if you are a first-time homebuyer or just a first-time new construction buyer. A buyer’s agent will guide you through the building process and advocate for your wants and needs. Find an agent that has experience in new builds and you feel confident will negotiate price, timelines, and contact details.
Do your research.
Building a home is a huge investment. And you want a home builder that aligns with your style and standards. With a little research of their website, reading reviews, and browsing their social media, you can gather good insight. You can also ask to talk with someone the builder has worked with before to get a more personal perspective. Researching different subdivisions and communities in Kansas City is also a good idea.
Buying New Construction: Establish a Timeline.
Depending on what construction option you choose, the timeline can be significantly different. This is important information to know ahead of time, especially if you are trying to sell a home or have to find alternative housing while your home is built.
Set your Budget.
Knowing your budget range before construction starts will help you handle unexpected costs along the way. And when building a new home, cost variations will likely come up. Whether it is labor or material cost fluctuations that can happen during the process, you should plan for some
Buying New Construction: Schedule an Inspection.
Although your builder will perform inspections while building, having your own independent Kansas City home inspection at the end will help make sure everything is completed as you agreed upon. Understanding the details of your home warranty will also inform you of what is covered and give you peace of mind should something go wrong.
We want you to be the best prepared for building a new home. Because we know how important the decision is. If we can help with a referral or answer any questions, please just let us know.