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Key Factors to Consider Before Buying a Brand-New Home

If you're thinking of purchasing a newly-constructed home, you should first consider a variety of important factors. Many home buyers want brand-new homes because they're energy-efficient and offer the opportunity to choose specific design features. However, without the proper research, you may find your new home doesn't measure up to the specifications you desired.

Research the Builder

The first thing you should do is thoroughly investigate the builder. If possible, locate other homeowners who have purchased one of the builder's homes. Make sure you talk to people who have had homes recently built, as well homeowners who bought in the past. Ask if they would choose the builder to build them another home. Question them about any problems they may have had with their home and find out whether the home has appreciated in value. Ask the builder what types of upgrades will be allowed on your home and at what cost.

You'll also want to find out how long the builder has been in the business of new home construction. Check with your Better Business Bureau to investigate any potential complaints filed against the builder. This investigation may take some time, but it could prevent you from making a very costly mistake.

What Type of Warranty Does the Builder Provide?

Find out what type of warranty the builder offers and who'll be servicing the warranty. Most builders offer a warranty which typically covers any structural defects for a period of ten years. Major mechanical systems may only be covered over a period of two years. You'll want to investigate all aspects of the warranty, as well as have your own inspections done on the home during its construction.

Look into the Location and Surrounding Neighborhoods

Do some research on the location of the property. Check with the builder and developer to find out if the new construction is part of a planned neighborhood association. Evaluate what the features of the neighborhood will be, as well as if there be any fees assessed. Check with the local planning board to find out if the area may be involved in any future developments which may affect your new neighborhood. By investigating all of the potential changes to the surrounding areas, you'll be able to fully evaluate the situation and make a wise decision when purchasing a newly-constructed house.

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© 2008, HouseValues Inc.