There are different types of new construction properties, so you must choose the right type of builder. Choose the right type of home and builder This will vary depending on the type of new construction and the type of builder you’re working with. Your lender can also recommend the best type of financing for a new build. Pre-approvals remove the guesswork and determine what you can afford to spend on a house. This involves contacting a mortgage lender to see if you qualify for a home loan. Real estate agents generally require a pre-approval letter before you can make an offer on a new construction home. So you won’t have to worry about paying your Realtor out of pocket at the end of the day. Typically, the builder pays the real estate agent’s commission. So it’s important to work with the right real estate professional.Ī real estate agent can help negotiate your contract with the builder and answer questions you have about the process. Real estate contracts are complex whether you’re buying a new home or an existing home. Here’s a step-by-step guide to buying new construction so you know what to expect throughout the process. But while some aspects of these purchases are similar to buying an existing home, other parts of the process differ.
Start hereĪ newly built home can offer floor plans and designs that suit your style. Here’s what you should know before you jump in. However, the process of buying a newly built home is slightly different from buying an existing home. Not to mention, new construction might sound appealing in the current market, where existing homes for sale are in short supply.
New construction homes have updated floor plans and appliances, require less maintenance, and they’re often more energy-efficient. J12 min read Buying a new construction home in 2023
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