Why is it important to use a Realtor when Building a new home?
For buyers of a new-construction home, the process of selecting and purchasing the property is a different experience than for buyers of existing homes. Rather than choosing from a handful of homes within a select location and price range, and closing on the home within an average of 30 to 60 days, buyers of a new-construction home often have far more details to consider.
Here are some important factors to consider when you are ready to begin the home building process.
1. Finding a Good Builder
According to Torres, many negative home-building experiences stem from shortcomings on the part of the builder. “Maybe their process falls short, they have unreliable sub-contractors, or they simply haven’t communicated well enough with their clients. Whatever the reason, many problems people have had when building a new home could have been minimized or avoided altogether by an having a Realtor that is experienced in new construction,” he said. As a former builder he knows a good deal about most Builders in the area from large to small.
He advises buyers to investigate the Realtor and builder they are entrusting to build their home. “Ask to speak with past buyers. Ask to tour other homes they have built. Your real estate broker will be a main point of contact to through the building process to make sure everything that is said is documented. Ask as many questions as you want until you feel comfortable,” he said.
2. Understanding what you’re getting (and what’s extra).
When building a new home, particularly a production home, there are some things that are standard, or included in the agreed upon price, and some things that are upgrades, or will be an extra cost. “Have your Realtor go through each element of the home, or walk through the floor plan and note what is included. If there is something that hasn’t been mentioned, no matter how simple it seems, be sure to ask,” he said. It is best to get a Plans and Specs sheet and make sure you are clear as to what you are getting before any contracts are signed.
3. Anticipate the emotional aspect.
Buying any piece of real estate can be emotional, but building a new home can be especially so. That’s because the process goes on longer, buyers won’t see the final product until well after they have signed a contract, and there can be many decisions to make.
“All of this contributes to heightened emotions,” Torres “But it all comes back to Tip One. Know your Realtor and feel confident you’re in good hands. A good Realtor will be there for you every step of the way, answering questions and helping to mitigate any stress in dealing with choices and working with builder.”
4. Be involved.
“Visit the job site with your Realtor to walk you through home and the steps in the understand process. Stop by the community periodically. Take pictures for a scrap book. All of this helps keep a buyer connected to the home and process, and maintains the excitement they felt when it all first started,” he said.
5. Be prepared.
Prevent unnecessary stress by being prepared with all of the financial documentation that you want in your home and any documentation required by a builder or lender. Have your pay stubs, bank account records, tax returns and other important records ready to go.
After more then a decade in the home building/real estate industry, becoming one of the largest framing contractors and home custom homes builders, Torres opened Polk City RE/MAX Concepts and started the Torres Team. The Polk City based Brokerage offers full services to all of their clients, by providing a full time staff.
Working with an educated Realtor that knows about new construction will make building a new home more fun and give you less stress. Ask your Realtor questions, make sure they have the knowledge and experience you need. Ask them how many deals they did last year, how many of them were new construction, do they have any specialty designations that set them apart for the rest. Doing all of this will help you ensure that you will build a home you and your family will love for years to come. Call the Torres Team to begin building your home today!