To Know More About 10 Tips To Save Time and Money or To Discuss Your Home Sale or Purchase, Call or Text Today & Start Packing!
10 Tips To Save Time and Money: The Homebuyers’ Guide to New Homes
When exploring homes in Murrieta, Temecula Valley, and the Inland Empire, you’ll find a majority are resales. However, one in four homebuyers opts for a new home. Each choice—new or resale—comes with distinct advantages. Before deciding, let’s dive into it…
COMPARE THESE POINTS!
- Innovative Use of Space and Style: Modern layouts and designs.
- Greater Energy Efficiency: Save on utility bills.
- Customization Options: Tailor your home with options and upgrades.
- Everything is New and Modern: Enjoy the latest in home technology and design.
VS.
- Cost-Effective: On average, they are less expensive.
- Established Neighborhoods: Mature landscaping and community feel.
- Settled Structures: Homes have already settled, minimizing post-purchase issues.
Most people consider both new and existing homes before they decide to purchase. If you’re thinking about buying a new house, here are 10 tips to save time and money before you visit your first model home.
1. Get in Touch with Your Agent
Before visiting your first model home, sit down with your agent and do your homework. Determine a comfortable price range for your new home by calculating your net proceeds if you’re selling a home or qualifying your income if you’re a first-time buyer.
2. Determine a Comfortable Price Range
Accurately calculate every possible selling cost if you own a home. For first-time buyers, qualify your income, determine the size of your down payment, and work out a monthly debt load to find a comfortable price range.
3. Sellers’ Agents Versus Buyers’ Agents
Remember, the sales agent in the model home represents the builder, not you. Work with a buyers’ agent at no additional cost to ensure your needs are best represented.
4. A Builder For All Reasons
Builders vary in their fields of expertise. Identify your specific needs and preferences, then shop around for a builder that best addresses them.
5. Get the Facts About Your Builder
Check the reputation and financial strength of the builder. Obtain “spec sheets” on home features, covering everything from floor plans to energy efficiency, including lot availability and delivery dates.
6. Check Out the Neighborhood
Learn about the community amenities, financial reserves for major amenities, local land-use plans, homeowner’s association rules, and commuting routes and times.
7. Choosing Options and Upgrades
The lower the base price, the more options and upgrades you can add without overpricing the home for the neighborhood. Options like sunrooms or powder rooms add resale value, while upgrades like premium carpeting and kitchen fixtures enhance quality. Look for builder incentives for free upgrades or sale price credits.
8. Negotiations
You may have room for negotiating price, upgrades, or options, especially for completed but unsold homes. Inquire about lot pricing and potential discounts or special financing.
9. Be Sure the Contract Works in Your Favor
Ensure safeguards are written into the agreement, such as placing your deposit in escrow, detailing your upgrades, allowing access to the construction site, a 30-day advance notice of the closing date, and understanding warranties.
10. Financing—What’s Best for You?
Builders may offer special financing packages, but it’s wise to shop around for rates, lender fees, appraisals, inspections, surveys, attorneys, and closing fees.
Final Tip: Just Because it’s New… Doesn’t Mean it’s Perfect
Hire a reputable, licensed home inspector to create a builder “punch list” for addressing any issues before closing. Consider budgeting for future modifications or additions. A real estate agent can help you negotiate the best price and terms with the builder.
By following these tips, you can save time and money while navigating the homebuying process. Happy house hunting!
To Know More About Tips To Save Time and Money or To Discuss Your Home Sale or Purchase, Call or Text Today & Start Packing!
READY TO BUY YOUR DREAM HOME? EXPLORE:
- Beat Out Other Buyers To Hot New Listings
- 10 Tips To Save You Time And Money
- Luxury Homes Hotlist
- Buyer Protection Plan
- $5,000 Home Purchase Savings Guarantee
In addition to providing free educational resources, real estate tools, and property hotlists, we are here to answer any specific questions you may have. For the absolute best realtor in Temecula Valley, and the surrounding Southern California areas, contact David Limon at 951-421-1229 today and start packing!
