6 key questions to ask when buying a new construction home

Moving into a brand new home is a very exciting experience. The thought of being the home’s first owners and having the opportunity to create new memories are worth their weight in gold.

To ensure that you get the ideal new construction home built to the highest standards, here are six important questions to ask:

1. Who is the builder?

   Choosing the right builder makes a big difference when it comes to buying a new construction home. Look into the credentials of the builder and the reputation of the company. You want someone with a track record of consistent good work.

   How long has the builder been constructing homes? How many homes have they built over the years of the company’s life? Do they specialize in the kind of home that you want? Do they have ongoing projects elsewhere that you can take a look at?

   It also helps to check out the reviews or feedback of previous buyers.

2. Is there a difference in the cost of the lot?

   A new construction home typically starts off with the base price, which includes the structure itself and the standard finishes. However, the cost of the land or the lot may or may not be a part of the base price. Finding out is key in estimating the costs you expect to incur before signing the contract.

3. What are the standard finishes?

   A new construction home typically comes with so-called standard finishes for its interiors and exteriors. However, what’s standard varies from builder to builder. Therefore, it helps to ask the builder what these finishes are and if you find them acceptable.

   Otherwise, most builders offer an array of upgrades or added features for buyers who plan on customizing their new construction home. For an additional cost, these upgrades can turn your house the way you want it to be.

4. How long will construction take?

   A new construction home can take anywhere from 3 to 6 months – or longer – before it is ready for occupancy. Knowing the completion date of your new home can help you plan accordingly. It will also give you an idea of when to move out of your current home and into your new one.

5. Is there a warranty program?

   Like upgrades, warranty programs also differ from builder to builder. While your new construction home may not have the same issues as pre-owned property, you may still run into problems with, say, home systems (HVAC, for example) or appliances. A warranty program can protect your home financially and provide peace of mind.

6. Are there financial incentives?

   Your builder may also offer financial incentives, from reduced interest rates to working with their preferred lender. While your decision to purchase a home from a particular builder shouldn’t be influenced solely by the financial incentives, there’s no harm in keeping these offers in mind.

Searching for the right new construction home in Beverly Hills or for Los Angeles real estate? Let me, Sasha Rahban, be your guide. Get in touch with me today at 310.963.9680 or send me a message here.