| Buying a new home is great! You get to choose | | | | you are a licensed home inspector with many |
| where your home will be built, add a sunroom | | | | years of experience, you won't notice any red |
| here, third garage bay there and before you | | | | flags beyond the superficial. |
| know it you are moving into your dream home. | | | | |
| With all the options to choose from it is | | | | Not using a buyer agent. - When looking for a |
| very easy to overlook crucial elements to | | | | new home, be sure to find a buyer agent who |
| your new home buying experience that could | | | | specializes in new homes. There are numerous |
| cost you greatly in both time and money. | | | | important steps when buying a new home that a |
| | | | new home buyer agent will be prepared to work |
| Choosing upgrades with the lowest ROI or too | | | | with such as price negotiation, lot choice, |
| many upgrades, period. - This is truly the | | | | researching future development around the |
| most common mistake made by new home buyers | | | | community and the pros and cons of building |
| who don't consider the resale value of their | | | | materials your builder will use in the |
| home in the future. When buying a new home be | | | | construction of your new home. At present, |
| sure to stick with the essential upgrades | | | | the buyer agent's services are paid for out |
| like two sinks in the master bathroom, high | | | | of the builder's marketing budget. |
| quality cabinetry and above all else, top | | | | |
| quality padding under the carpeted areas. | | | | Using the builder endorsed financing company |
| | | | out of convenience. - Many large builders |
| Not examining your lot choice thoroughly | | | | have their own in-house financing company and |
| enough. - A recent United Feature Syndicate | | | | they often offer incentives on their products |
| by Lew Sichelman highlights some very | | | | by tying in the use of the incentives to |
| important aspects to choosing a lot for your | | | | financing through their in-house lender. In |
| new home to be built on. Among them are: | | | | some instances you will find that the |
| terrain, noting that people psychologically | | | | builder's in-house lender financing and |
| feel more secure looking down at the street | | | | incentives will cost you more money in the |
| rather than up, location and lot shape which | | | | long run than if you had financed your |
| can affect your surroundings including the | | | | purchase through an outside lender. Rule of |
| possibility of facing the rear of a | | | | thumb: Always check your financing options |
| neighbor's home. | | | | with the builder's in-house lender, a |
| | | | mortgage broker and a loan officer for a |
| Finding communities first, vitals second. - | | | | direct lender before committing. |
| When you are buying a home you have to shop | | | | |
| differently than you would if you were buying | | | | Believing everything you read in |
| a car or shopping for clothes. To save | | | | advertisements. - If it looks too good to be |
| yourself much heartache and frustration, be | | | | true, it probably is. Always verify |
| sure to hammer out your lifestyle | | | | everything you read in real estate |
| requirements before even searching for a | | | | advertisements including newspaper ads and |
| community to build a home in. For example, if | | | | the community's standard features list. Aside |
| you commute to New York City and have school | | | | from the obvious typographical errors that |
| age children you would want to find a school | | | | occur I have also seen blatant false |
| district that you approve of in an area with | | | | advertising. For example, I have seen new |
| multiple mass transit options (train, bus, | | | | home community literature advertising the |
| highway) and then locate new home communities | | | | community's short "less than an hour" drive |
| within close proximity to both. | | | | to New York City despite the fact that it |
| | | | would take at least 90 minutes on a good day |
| Overlooking the "inspection" clause in | | | | from that community. |
| builder contracts. - A dirty little secret in | | | | |
| the new home industry is the fact that some | | | | Buying a new home is a wonderful, dazzling |
| builders, national builders included, send | | | | experience that will cater to your every |
| out contracts with a clause stating that they | | | | need. By using reasonable care and |
| don't allow home inspections by an | | | | professional guidance you will enjoy many |
| independent, third party home inspector until | | | | great years in your new home and reap |
| after you close on and own the home. They | | | | substantial rewards from your diligent buying |
| offer to do a walkthrough of the home with | | | | efforts when selling your home in the future. |
| you before you close but chances are, unless | | | | |