Thinking of Buying an Incomplete Construction Home? Read This First!
Living in a beautiful, brand-new house is a dream for many people but the process of buying a new build can be a little intimidating to a buyer and even some agents. Yes, the process is a little different than buying a resale home but doesn’t have to be scary! You can go under contract on a new build at any time during the build, from land prep to completion but before you do, research the builder! Talk to the builder, ask them to see past projects and about their builder’s warranty. An honest builder will be happy to show you past projects and explain what to expect.
Going under contract in the earlier stages of an incomplete construction does have a few perks. You may have the opportunity to choose your own finishes such as tile, countertops, paint, etc… Although, if you do exceed the allowed budget that resulted in the contracted price, you are responsible for the overage in cash. Towards the end, some builders will have you go through and make a final punch list of cosmetic items that need to be fixed prior to closing. This does not take place of an inspection. No matter if you buy an incomplete instruction, completed new build, or a resale, you should ALWAYS get