Answer:  There are two ways the financing process works with new construction. Either the builder carries the construction financing or the buyer carries the construction financing. It is simpler for the buyer if the builder carries the construction financing. If that is the case, the buyers financing comes into play at the completion of the home, same as a traditional re-sale home purchase. If the builder requires the buyer to provide their own construction financing, I will direct you to a mortgage broker who can explain the process and pre-qualify you for the new home purchase.

Answer: I am familiar with many new developments in my area and can direct you to new construction that fits your budget in the area where you want to live. If you currently own your own ground or plan to purchase land to build on, I can connect you with reputable builders who would be willing to build on your own property.

Answer: We sit down and discuss all of your needs and wants in a new home. Builders usually have floor plan renderings, lists of the standard features, and upgrades that are offered (with prices). Some builders build completely custom homes where a buyer can pick out almost every detail of the home. Other builders only allow certain options to be selected by the buyer. We will compare what’s included in a standard build with what your needs are. If the builder has a base price, we add in the extra features you want in the home and include them in with the details of an offer. I strive to include as much detail as possible in the offer paperwork. The more precise we are with the details in the offer, the less likely we are to miss something.

Answer: When purchasing a new home, there are additional costs to consider. You will most likely need to purchase items for a new home that are typically included in a re-sale home. Window coverings, refrigerator, and fencing are just few of the possible additional expenses to consider.

Answer: Time frame can vary greatly There are many variables when determining time frame for new construction. Every builder is different and can take different lengths to build a home. Also, custom homes versus semi-custom homes vary in time frame. If the new home has already been constructed as a spec home, a standard 45-60 day closing would typically apply. If the builder has the property and has already gone in for the permitting process, it’s typical for the construction process to take approx. 120 days. Custom homes can take 6/8 months or longer to fully complete.

Answer: No, not typically
Builders don’t have equity to negotiate with. Usually builders go thru a bid process and know exactly how much a home will cost them to build. Therefore they price the home accordingly without much flexibility in price.

Answer: I always recommend yes!
New construction is inspected by a city/county official at various times throughout the construction process to be sure the home meets all the current city/county codes. But, it is still possible for something to get overlooked. Having a home inspection once the home is completed will help to ensure that nothing has been forgotten or overlooked.