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By Tara Mastroeni
Contributor – Real Estate
FORBES
Buying a new construction property can be a daunting task. There are so many decisions to make, all without seeing the final product. With that in mind, you’ll want to make sure that you go into this process armed with as much information as possible. To that end, we’ve brought you five questions that you should ask before buying a new construction property. Read them over to familiarize yourself with them before the big day.
Where can I see past samples of your work?
One of buyers’ biggest concerns when it comes to purchasing new construction is that it’s difficult for them to visualize the final product until well after they’ve signed on the dotted line. While there is, unfortunately, no way to solve this exact problem, you can come pretty close by asking to view samples of the builder’s prior work.
Taking the time to look at some of the builder’s other projects has a dual purpose. On the one hand, it will give you a sense of the style of work that the builder prefers, as well as the quality and how it holds up over time. However, it will also give you the opportunity to get references. If you can, take the opportunity to talk to the homeowners to see what they liked and didn’t like about working with the builder.
Which features come standard? Which are upgrades?
When you initially look at a new construction home, you’re given a base price for your unit. That base price includes all standard finishes, which are usually builder-grade in quality. You’re then given the option to upgrade certain features. However, this comes at an additional cost. Before you can begin to estimate the true cost of your property, it’s imperative to know which features are included in the base price and which you’ll want to upgrade to something different.
To do this, your best bet is to walk through the model home with an agent who works for the builder (and your agent, if you have one). Have the builder’s agent point out which features in the model home come standard and which count as upgrades. This will give you an idea of how many upgrades you’re looking towards before it’s time to sit down and make your final decisions.
