When you buy a new construction home, you’re purchasing it from a builder instead of a previous homeowner. However, the buying process for new construction homes is slightly different from buying a previously-owned home.
Here’s what you need to know:
- Determine the kind of new construction home you wantThere are three kinds of new construction homes. Each caters to a particular set of home buyers with different goals and needs. Knowing which one suits you and your family best can make the home buying process easier.
- Custom homes – Built according to your vision and specifications from the ground up, custom homes allow you work closely with builders, contractors, or developers. With custom homes, you become in charge of the style and design of your new home.
- Speculative homes – Also known as “spec homes,” these kinds of homes have already been planned out and constructed with finishes, features, and furnishing predetermined by the developer. Speculative homes are perfect if you want to buy a home without having to make any design decisions.
- Tract homes – Tract homes are usually located in planned communities. Homebuyers can choose between purchasing an available lot or buying a home that has already been built. The upside to buying a tract home is the many perks and amenities a planned community offers such as parks, swimming pools, and clubhouses.
- Obtain a mortgage pre-approvalBefore buying any type of home, it’s important to obtain a mortgage pre-approval. This tells you how much home you can afford based on your income and credit history. It’s also an indication of the mortgage loan you can expect to borrow once you actually purchase a home.
- Hire a qualified RealtorIf you’re buying a new construction home for the first time, having a qualified Realtor by your side can help guide you through the process of buying one. Find out the agent’s level of experience in dealing with new construction homes.
- Research the builder’s credentialsOnce you decide on the type of new construction home you want, the next step would be to find a reputable builder you can work with. With the help of your Realtor, look into the history of each potential builder including their previous projects. Go online and check out reviews and testimonials from their clients.
- Hire a home inspectorAs in every home purchase, a qualified and professional home inspector is necessary to examine any defects or issues in the home. You can even conduct several home inspections if the house you’re buying is still under construction.
- Talk to a real estate lawyerBefore signing the purchase agreement contract, have a real estate lawyer review the terms and conditions between you and your builder. Real estate lawyers can iron out the details of your contract and review your cancellation rights.
Take your pick among the many beautiful new construction homes in Naples, Florida. Browse the website for more information. For inquiries, call Victor Cuccia of Verona Walk Realty at 239-417-3300 or email