| Buying a new home is great! You get to choose | | | | but 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 you | | | | notice any red flags beyond the superficial. |
| are moving into your dream home. With all the | | | | Not using a buyer agent. - When looking for a new |
| options to choose from it is very easy to overlook | | | | home, be sure to find a buyer agent who specializes |
| crucial elements to your new home buying | | | | in new homes. There are numerous important steps |
| experience that could cost you greatly in both time | | | | when 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 many | | | | negotiation, lot choice, researching future |
| upgrades, period. - This is truly the most common | | | | development around the community and the pros |
| mistake made by new home buyers who don't | | | | and 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 the | | | | buyer agent's services are paid for out of the |
| essential upgrades like two sinks in the master | | | | builder'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. - A | | | | in-house financing company and they often offer |
| recent United Feature Syndicate by Lew Sichelman | | | | incentives on their products by tying in the use of |
| highlights some very important aspects to choosing a | | | | the incentives to financing through their in-house |
| lot for your new home to be built on. Among them | | | | lender. In some instances you will find that the |
| are: terrain, noting that people psychologically feel | | | | builder's in-house lender financing and incentives will |
| more secure looking down at the street rather than | | | | cost you more money in the long run than if you had |
| up, location and lot shape which can affect your | | | | financed your purchase through an outside lender. |
| surroundings including the possibility of facing the rear | | | | Rule 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 you | | | | and a loan officer for a direct lender before |
| are buying a home you have to shop differently than | | | | committing. |
| you would if you were buying a car or shopping for | | | | Believing everything you read in advertisements. - If |
| clothes. To save yourself much heartache and | | | | it looks too good to be true, it probably is. Always |
| frustration, be sure to hammer out your lifestyle | | | | verify everything you read in real estate |
| requirements before even searching for a community | | | | advertisements including newspaper ads and the |
| to build a home in. For example, if you commute to | | | | community's standard features list. Aside from the |
| New York City and have school age children you | | | | obvious typographical errors that occur I have also |
| would want to find a school district that you approve | | | | seen 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 home | | | | community'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 builder | | | | 90 minutes on a good day from that community. |
| contracts. - A dirty little secret in the new home | | | | Buying a new home is a wonderful, dazzling |
| industry is the fact that some builders, national | | | | experience that will cater to your every need. By |
| builders included, send out contracts with a clause | | | | using reasonable care and professional guidance you |
| stating that they don't allow home inspections by an | | | | will enjoy many great years in your new home and |
| independent, third party home inspector until after | | | | reap substantial rewards from your diligent buying |
| you close on and own the home. They offer to do a | | | | efforts when selling your home in the future. |
| walkthrough of the home with you before you close | | | | |