Buying New Construction: What you need to know!

If you’re in the market for a new home, buying new construction could be the perfect fit. However, the process can be overwhelming without expert guidance. From choosing the right builder to understanding financing options, our team at Nest Builders Collective is here to help you navigate every step. Below, we’ll walk you through some key considerations and provide insight on everything from the pros and cons to what you should expect during the building process.

Ready to get started? Let’s break it all down!

 

Do’s and Don’ts of Buying New Construction

Buying new construction is exciting, but it’s important to keep a few do’s and don’ts in mind to avoid common pitfalls.

Do: Work with a Realtor
Partnering with a realtor is one of the smartest moves you can make. While the builder’s sales agent represents the builder, a realtor is there to protect your interests, negotiate terms, and guide you through the contract. At Nest Builders Collective, we’ll ensure that the entire process is seamless from start to finish.

Don’t: Skip the Inspection
Even brand-new homes can have issues. An inspection is your chance to catch any problems before closing. We’ll connect you with trusted inspectors who specialize in new construction, ensuring you move into a home that’s perfect from day one.

Want to learn more about the do’s and don’ts of buying new construction? Check out our full guide, and contact us if you need expert advice tailored to your situation.

Buying a New Construction Home Contingent on Selling Yours

If you need to sell your current home before buying a new construction, you’re not alone. Many buyers face this situation, and we’re here to help you make it happen smoothly. Builders often work with buyers in this position, but timing is key. It’s important to coordinate both sales carefully to avoid unnecessary stress.

Our team at Nest Builders Collective can help you strategize how to sell your home quickly and get the best possible offer, all while working towards securing your new home.

Need help managing both sales? Let us take care of the details. Contact us to learn how we can make the process seamless.

Is It Better to Buy New Construction or an Existing Home?

When deciding between buying new construction or an existing home, it all comes down to your priorities.

Pros of New Construction:

  • Customization: You can choose your floor plan, finishes, and upgrades, creating a home that fits your style.
  • Energy Efficiency: New homes come equipped with the latest energy-saving technologies, which could save you money on utilities.
  • Warranty: Most new construction homes come with warranties, giving you peace of mind.

Cons of New Construction:

  • Price: New construction tends to be more expensive than existing homes in some markets.
  • Location: Many new communities are located further out, which could mean longer commutes.
  • Build Time: You may have to wait several months for your home to be completed.

At Nest Builders Collective, we can help you weigh the pros and cons of both options based on your needs. Whether you’re looking for a home with character or something brand new, our team is here to help you make the best decision.

Still unsure? Contact us today for a free consultation, and let us guide you through the options available in your area.

Step-by-Step Process of Buying New Construction

The process of buying new construction is different from buying an existing home. Here’s what you can expect when you work with us at Nest Builders Collective:

1. Find a Realtor
Your first step is to find a realtor who specializes in new construction. We have extensive experience with builders and can guide you through every step. Plus, we know how to spot red flags that others might miss.

2. Choose the Right Builder and Community
There are many builders out there, and not all of them are the same. We’ll help you research builders, tour model homes, and find the perfect community that fits your lifestyle.

3. Select Your Floor Plan and Lot
Customizing your home is one of the best parts of buying new construction. We’ll work with you to select a floor plan that fits your needs and a lot that offers the best value.

4. Secure Financing
Financing for new construction is different from financing an existing home. We’ll connect you with trusted lenders who specialize in new construction loans and make sure you understand your options.

5. Sign the Contract
This is where we come in to help you review all the terms, ensure nothing is overlooked, and negotiate where needed.

6. Construction and Inspections
As your home is built, we’ll keep you updated every step of the way. We also recommend scheduling inspections at key stages to ensure everything is on track.

7. Closing and Move-In
After construction is complete, it’s time to close! We’ll guide you through the final walkthrough, handle any issues, and ensure the closing process goes smoothly.

Buying a New Construction Home Mortgage Process

Securing financing for a new construction home can be a bit different from buying an existing home. Some builders offer their own lenders with potential incentives, but it’s important to shop around for the best mortgage rates. At Nest Builders Collective, we can help you find a lender that works with your financial situation and guide you through the mortgage process.

We’ll also help you understand down payment requirements, how to lock in your mortgage rate, and what to expect in terms of closing costs.

Should You Have a Realtor When Buying New Construction?

Yes, you absolutely should! Builders have their own sales agents, but they represent the builder—not you. Having a realtor who works for you ensures that your best interests are protected throughout the process.

At Nest Builders Collective, our job is to advocate for you. We can help with negotiations, ensuring that the home is built to your specifications, and even review the fine print of your contract. The best part? In most cases, the builder pays the realtor’s fee, so it doesn’t cost you anything extra!

How Long Does It Take to Build a New Construction Home?

Building a new home can take anywhere from 4-12 months, depending on the builder and any delays that may come up. We’ll help you manage your expectations, check in regularly with the builder, and keep you informed throughout the process.

Need help navigating a longer timeline? 

Pros and Cons of Buying New Construction

Pros of Buying New Construction:

  • Tailor the home to your style with custom finishes
  • Enjoy the benefits of energy-efficient systems and new appliances
  • Gain peace of mind with builder warranties

Cons of Buying New Construction:

  • Potentially higher costs compared to existing homes
  • Longer build times
  • Location may be a compromise

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