Shopping for a new home is a big deal. It's a long process and it will take time to put together the plans. Make sure you do your homework first, plan and stay organized throughout the process.
While the process can get a bit stressful, it's important to enjoy it and have fun with it. Building a new home can be very rewarding and quite exciting. Here are some of the things you should start with if you want to shop smarter for your new home.
Don't hold back as you have questions about the neighborhood, mortgage, types of homes and other things. You want to make sure you find the right community and the right builder for you. Make sure you ask questions as they come up and make sure you understand the answers before you make any final decisions.
Understand what New Home Offer
Understanding what you can get out of a new construction home will help you make better choices for your home. Some of the things builders can offer include:
- Open floor plans
- Larger closets in the bedrooms
- Luxurious master bathrooms
- Energy-efficient features
- New products under warranty
- And More!
A new construction home provides the ability to personalize the home to fit your specific needs and tastes.
Figure out How Much Home you can Afford
Before you start making decisions, you should find out how much home you can afford. Expect to put about 20% down or more with a new construction home. Meet with a few mortgage companies and find out how much you can get for your new construction mortgage. Make sure it fits with your own budget before you start shopping for the building and features you want.
Define What You Need and Want
After you have received pre-approval from the mortgage company, it's time to figure out what you need and what you want in a home. Make two lists, so that you can refer to them as you start shopping for a new home.
Start Searching for a Builder
Now, you can start looking for a builder to use for your new home. It might be good to start your search online before scheduling any face-to-face meetings.
Custom or Production?
As you search for a builder, you will also want to make sure you decide whether you want a custom home or a production home. Many builders can add some customization to production homes, but you want to ensure you will get what you need and want out of your new home.
There's quite a bit that goes into shopping smarter for a new home. Make sure you start with these tips and the tips found in Part Two of this post.
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