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One of the most vital tasks in the home buying process is figuring out how much custom home or semi-custom home you can afford, and then finding a lender to loan you money at an attractive rate and good terms. You will need cash for the down payment and closing costs unless you’re working with our agents at NewBuilt.RealEstate™ offers closing cost assistance. If you’re on a tight budget, consider a loan from the Federal Housing Administration (FHA).
Determining how much you can afford and then getting financing for your purchase are the first considerations when buying a home. Before you can look for that perfect kitchen, you need to make sure it fits your budget. To determine what you can afford you’ll need to calculate your:
If you are working with our agent, you’ll have the option to talk to a Mortgage Broker who can sit down with you to review your credit. If it needs to improve before you apply for a loan, they can help you create a plan to help increase you credit score and chances of qualifying for the best mortgage lender for new construction homes.
If you have children, proximity to your preferred schools may a major deciding factor. You may also want a location that provides a quicker commute to work. Decide on several areas and talk to your NewBuilt.RealEstate™ agent to run a quick check on housing prices to make sure you can afford to live there. We will help you make a list of at least three neighborhoods that you’re interested in seeing.
Well-known, experienced home builders are very transparent about their construction process and how they operate You can ask them to share the contact details of their previous clients who’ve bought newly constructed home as proof of their capabilities, and most builders will be happy to do it Your NewBuilt.RealEstate™ agents can help you connect to the leading national builders and their customers to get an accurate ides about their work before you sign the purchase agreement. We conduct a professional home inspection to verify the competence and trustworthiness of every builder we partner with, so you don’t have to.
Keep in mind that even the best builders and contractors may sometimes make errors. That’s why you should always look carefully at the builder’s warranty options. Make sure the new home warranty covers all the work they have done.
Go over your contract meticulously and involve your attorney or NewBuilt.RealEstate™ agent if necessary to ensure you don’t miss any crucial items As your own home buyer’s agent, we can incorporate addendums in the purchase contract to project your rights.
Having worked with thousands of clients, we know that when buying new construction, you are at the mercy of the builder’s schedule. We can include a clause in the contract stating the completion date of the construction, a refund amount if the builder fails to meet their deadlines, and a cancellation clause. Once the construction is complete and before you make the final payment, your NewBuilt.RealEstate™ realtor will also check for any incorrect damaged, or unfinished.
The biggest disadvantage in buying an existing home is that you may not get exactly what you want. The outdated floor plan, small kitchen, and half baths may not be as functional as you like. Unless you find an existing home that is in perfect condition and has every feature you want, you'll have to spend additional money on repairs, remodeling landscaping, and decorating.
There are a lot of advantages to buying a newly constructed home. For one, it is more energy efficient, especially with the new energy codes including LED light fixtures and better HVAC (heating, cooling, ventilation), air filtration, and insulation standards. The NewBuilt.RealEstate™ portfolio consists of many home builders in Texas who comply with the latest energy efficiency codes during the building process.
Unlike existing properties built over 10-20 years ago, a new custom home is built to the latest local building codes so you don't have to worry about toxic home construction materials or health concerns like mold, lead paint, or asbestos.
Copyright © 2023 NewBuilt.RealEstate. All rights reserved. Texas Real Estate Commission Consumer Protection Notice | Texas Real Estate Commission Information About Brokerage Services. Prices, specifications, square footage, features, amenities, floor plans, elevations, designs, and availability vary and are subject to changes or substitution without notice or prior obligation. Dimensions and square footage are approximate and may vary upon elevations and/or options selected. Elevation materials may vary per subdivision requirement.