What are some important questions to ask home builders when purchasing a new home?

Question

Yeah yeah, I dont feel like paying someone a commission to help me find a home. That's why i'm buying a new one. no realtor

Answer 1

First of all, before you speak with the builder, GET REPRESENTATION. Some home builders will not allow you to get your own representation after you talk to them. You want someone who will look out for YOUR best interests so the first thing to do is to find a REALTOR®. They can be a tremendously asset and advocate for you when building a new home.

There are so many questions, where to begin...

1) Build vs Buy Existing - In today's market, there are some excellent deals to be had. You might find a much nicer home at the same price as new construction.

2) Production vs Custom - Is the builder a custom builder or a production builder. This is important if you want to make changes or if you want your home to be a true "individual". In other words, do you want your home to look similar to all of the others in the neighborhood?

3) Is the builder experienced in your area? - Building in a cold weather state is far different from building in a hot state. Is the builder experienced with the climate in your area? You want someone who is experienced with the amount of snow, rain, wind, and heat that you are likely to experience.

4) Ask for a list of homes they have built in your area - and then check their references. Ask others who have purchased their homes what their experience was like.

5) Ask about closing costs - What they are, which ones are necessary, and which ones are optional.

6) Financing - What are your options if your financing falls through?

7) Committment - what happens if something prevents you from purchasing the home (what if you get laid off, injured, change your mind)? What do you lose?

8) Warranties - Some states have mandatory warranty periods and others do not. Find out what recourse you have if things go wrong.

Those are just a few... Building can be a big headache. Get representation and you should be better off.

Answer 2

How long will we have to wait for hot water to arrive at sinks and showers in our new home?

This is one thing many home buyers fail to consider, even though it's something that you'll have to live with on a daily basis. Imagine purchasing your dream home and after all the contracts are signed and the keys are handed over you couldn't be happier. Then, the day after you move in you discover that your having to wait 5 minutes for hot water to arrive at the upstairs master bathroom at the far end of the house. It's then that you realize what a pain it will be having to wait several minutes before you can step into the shower. Sometimes, there's an easy fix by installing a open-loop hot water circulation system or on-demand system. I would hate to find out that my dream house makes me wait more than 30 seconds for hot water. Wouldn't you?

Answer 3

i believe the two previous solutions, fantastically with magic's enormous distinction between agent and builder. it additionally relies upon plenty on the place you're procuring in CA. some aspects are extra immune to devaluation than others. assuming your credit is suitable notch and additionally you are able to without problems make the down fee and there is not any longer plenty interior the way of aggressive bids (how long the living house has been on the industry), i could low-ball the grant and not supply a flying F approximately what the broker thinks. once you're a rather specific factor, i think of $260K to $265K is a sturdy commencing factor. yet that reported, if it incredibly is the living house of your desires, there is incredibly no fee ticket on the assumption of it.

Answer 4

Selecting the right builder is a key step in the journey that leads to your dream home.So, here are some questions you need to ask while building your dream home.
- Years of experience in the building industry.
- Is he licensed or not?
- Type of warranty they offer and many more.

Answer 5

http://www.brandlanderson.com/questions-to-ask-when-building-a-new-home.asp

http://www.homebuildingpitfalls.com/

http://www.newhomesource.com/HomeGuideArticle/Article-waynebuilderquestions

and, get a 30-year mortgage instead of getting an ARM with a balloon payment in a few years.

Answer 6

There are various site which guides for home buyers