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5 Big Mistakes To Avoid When Buying New Construction Home

March 4, 2020 10:00 am  /  New Construction, News, Weston Fl  /  
5 Big Mistakes To Avoid When Buying New Construction Home

It’s fun to build your home from scratch, from selecting the material for the construction to choosing between marble and granite for your kitchen countertops. You must, however, be careful as the excitement could blind you from looking at factors that would put a line between you and some significant issues in the process. The key with New Construction is doing your research correctly, having a home inspection, but there’s much more. Below are some common mistakes that you must avoid when purchasing Weston homes New Construction development.

Failure to Research

You must conduct proper research on your builder for pre-construction Weston Fl
the same way you would on any property you’re aspiring to buy. Make sure that
your developer has a good reputation with the state Construction Contractor’s
Board. Ensure there are no pending complaints or cases against the
company. 

Don’t be afraid to ask whether they use independent
subcontractors and also make sure to verify their bonds and licenses. Ask your
builder to provide their financials and request for referees so as you can talk
to people they have served before you. Doing that will allow you to know their
financial standing, the amount of insurance they carry, and the amount of their
bond.

 If your builder runs out of cash amid the construction, it
will be troublesome to complete the project. Be sure to sample one finished
project that they have completed and talk to clients who have used their
services, and you’ll be sure of what to expect.

Failing To Analyze the Terms of the New Construction Agreement

When you purchase pre-construction homes in Weston, there are certain items that
you expect the builder to include in the cost of the house, but it is your
responsibility. You need to review your contract carefully to understand the
expenses that you’re supposed to cover and that which your builder includes.

You might need to read and reread your agreement to find out
whether your developer will slap you with unexpected bills during the
construction process. Analyze every detail, or else you might find the cost of
the home going up without your awareness.

It might be interesting to note that many builders will use
purchase contracts that are much different from the ones issued by the state.
They are pretty much protecting the contractor than the buyer. You must,
therefore, understand the contracts before signing anything to keep you
protected during each phase of the purchase. Make sure you read all the
warranties, so you know what the builder compensates and what he doesn’t.

Ignoring the Cost of Upgrades

Your builder will most probably go for the most affordable
models for equipment to cut on his budget. Most of the construction will come
with builder-grade items in which not all buyers want to use them in their
homes. You will likely prefer to upgrade some appliances from builder grade to
quality high-end details.

Before you consider an upgrade for those appliances, you might
need to check the cost implication. Asking questions about any upgrade that you
might need is an excellent idea.

Additionally, it’s wise to pick upgrades that can boost the
value of your home before you go on an upgrade spree. Some upgrades will not
only help make your home look beautiful but should Also Add Value To Your
Home. 

Shopping Before You Get a
Pre-Approval Letter

Even before you think of starting to shop for new homes in Weston Fl, you should get a pre-approval for a mortgage. Pre-approval will save you time and energy visiting many homes only to find that you don’t qualify for a mortgage to purchase the dream home. It will put your financial information in order and correct any discrepancies, which you can do after pre-approval. An inspection will allow you to start shopping for new construction at Botaniko. Many builders will not consider a negotiation until you have an approval letter.

Assuming That the Home Is Perfect
After Completion

Subcontractors and city inspectors are prone to make errors, so when buying new construction homes in Weston Fl, you need a home inspection to rule out any mistakes. You don’t want a bunch of contractors doing repairs and touch-ups after you have already moved into the house.

 Many real estate agents
advise that you not only have your home inspected after completion but also
before the builder installs drywall. An inspection helps you point out any major
issues such as uneven walls, missing landscaping, or some cracked tiles.

Please don’t make a mistake closing on a home before a final
walkthrough with the builder. You must be sure they have satisfactorily
accomplished all the items in the punch-list. If you fail to address those
issues before closing, you might have a difficult time getting the developer to
fix your home after they transfer the ownership to you. 

Conclusion

Investing in luxury homes in Weston Fl can be an excellent decision if you do it right. Be careful to conduct impeccable research, be approved for a mortgage and conduct a proper home inspection before you sign the closing agreement. While this is not a comprehensive list of how to avoid costly mistakes, I hope the above discussion is helpful.