Top 7 New Home Buying Mistakes

Buying a new home is great! You get to choosebut chances are, unless you are a licensed home
where your home will be built, add a sunroom here,inspector with many years of experience, you won't
third garage bay there and before you know it younotice any red flags beyond the superficial.
are moving into your dream home. With all theNot using a buyer agent. - When looking for a new
options to choose from it is very easy to overlookhome, be sure to find a buyer agent who specializes
crucial elements to your new home buyingin new homes. There are numerous important steps
experience that could cost you greatly in both timewhen buying a new home that a new home buyer
and money.agent will be prepared to work with such as price
Choosing upgrades with the lowest ROI or too manynegotiation, lot choice, researching future
upgrades, period. - This is truly the most commondevelopment around the community and the pros
mistake made by new home buyers who don'tand cons of building materials your builder will use in
consider the resale value of their home in the future.the construction of your new home. At present, the
When buying a new home be sure to stick with thebuyer agent's services are paid for out of the
essential upgrades like two sinks in the masterbuilder's marketing budget.
bathroom, high quality cabinetry and above all else,Using the builder endorsed financing company out of
top quality padding under the carpeted areas.convenience. - Many large builders have their own
Not examining your lot choice thoroughly enough. - Ain-house financing company and they often offer
recent United Feature Syndicate by Lew Sichelmanincentives on their products by tying in the use of
highlights some very important aspects to choosing athe incentives to financing through their in-house
lot for your new home to be built on. Among themlender. In some instances you will find that the
are: terrain, noting that people psychologically feelbuilder's in-house lender financing and incentives will
more secure looking down at the street rather thancost you more money in the long run than if you had
up, location and lot shape which can affect yourfinanced your purchase through an outside lender.
surroundings including the possibility of facing the rearRule of thumb: Always check your financing options
of a neighbor's home.with the builder's in-house lender, a mortgage broker
Finding communities first, vitals second. - When youand a loan officer for a direct lender before
are buying a home you have to shop differently thancommitting.
you would if you were buying a car or shopping forBelieving everything you read in advertisements. - If
clothes. To save yourself much heartache andit looks too good to be true, it probably is. Always
frustration, be sure to hammer out your lifestyleverify everything you read in real estate
requirements before even searching for a communityadvertisements including newspaper ads and the
to build a home in. For example, if you commute tocommunity's standard features list. Aside from the
New York City and have school age children youobvious typographical errors that occur I have also
would want to find a school district that you approveseen blatant false advertising. For example, I have
of in an area with multiple mass transit options (train,seen new home community literature advertising the
bus, highway) and then locate new homecommunity's short "less than an hour" drive to New
communities within close proximity to both.York City despite the fact that it would take at least
Overlooking the "inspection" clause in builder90 minutes on a good day from that community.
contracts. - A dirty little secret in the new homeBuying a new home is a wonderful, dazzling
industry is the fact that some builders, nationalexperience that will cater to your every need. By
builders included, send out contracts with a clauseusing reasonable care and professional guidance you
stating that they don't allow home inspections by anwill enjoy many great years in your new home and
independent, third party home inspector until afterreap substantial rewards from your diligent buying
you close on and own the home. They offer to do aefforts when selling your home in the future.
walkthrough of the home with you before you close