Your Ultimate Guide to Buying a New Construction Home

Your Ultimate Guide to Buying a New Construction Home

The New Construction Home Buying Process, Explained

If you’ve done your due diligence browsing the real estate market, but can’t find a previously-owned property that reflects your family’s needs and personal style, you might be better off buying a new construction home. Since buying a home is one of the biggest financial decisions of your life, you’ll want to be sure the property you choose meets all of your needs.
While we understand the decision of choosing your next home can be stressful, it doesn’t have to be. Read on to learn more about the benefits that come with buying a new construction home, so you can decide if it’s the right move for you.

What Is a New Construction Home?

A new construction home is a property where the buyer is the first person to live there after it’s built. There are different options available for buyers when they choose to move forward with a new construction home. An individual may purchase a plot of land and hire contractors to build their dream home from scratch. Another option is to buy a completely constructed home and the lot it sits on from a developer.

New Build Options

When you buy new construction, the possibilities are endless! Typically, buyers are offered one of the following customization options:
  • Full Custom: Buyers design, plan, and select every single detail about the home’s construction, layout, and finishes.
  • Semi-Custom: The land and floor plan has been chosen by the builder, but the buyer can customize and choose finishes.
  • Speculative (Spec) Home: A builder has built a new home that’s move-in ready, and no decisions about a floorplan or finishes are needed by the buyer.

Pros and Cons of New Construction Homes

Buying new construction comes with the benefit of owning a property in pristine condition. However, there are drawbacks to consider as well if you think new construction might be the best fit:
  • Everything in the home will be brand new 
  • You can customize your home to fit your budget and tastes
  • They are low maintenance and typically more energy efficient than older homes
  • There is typically a longer wait time, as new construction takes a considerable amount of time to build
  • A new construction home may be more expensive in this kind of market
  • The decisions that need to be made concerning a new construction home can be overwhelming for a first-time homebuyer 
Related10 Costs First-Time Homebuyers Often Forget

How to Buy a New Construction Home in 5 Steps

1. Find Mortgage Financing

A common first step to purchasing any property is to acquire mortgage financing. Mortgage pre-approval represents what a lender is willing to offer you based on financial circumstances, including your credit, employment, income, and assets.
The Redbud Group has preferred lending partners. Contact our team to be connected!
RelatedThe 12 Do’s and Don’ts of the Lending Process

2. Partner With a Real Estate Agent

After securing your mortgage financing, it’s time to hire a local real estate agent. Having an experienced real estate agent on your side will make all the difference in your new construction house hunting. A local agent will have the most up-to-date knowledge of the current state of your market, as well as new developments that are in the works. Additionally, agents will be able to discern whether the new construction community is built with quality materials and construction, and they will advocate for buyers should there be any conflict with the builder during the process.
Pro Tip: If you’re looking to buy a new construction home in the Carolinas, look no further than a Redbud Group REALTORS®. With our agents’ local expertise, you’re sure to find the house of your dreams. Contact us for a complimentary consultation!

3. Choose a Location

You know the general area you want to live in but haven’t found the perfect home for your family. Thankfully, when you choose new construction, you can build in the area you want, at a price you can afford, and with the design you’ve always dreamt of.

4. Research Construction Companies

When it comes to buying a new construction home, you must do your homework. There are likely several choices available when it comes to selecting the homebuilder that will construct your new property. When selecting your new construction builder, conduct research to gain insight into their work through online customer testimonials and Better Business Bureau ratings.

5. Design Your Dream Home

Unless you choose a spec home, as a buyer, you’ll be able to select your floor plan, structural options, interior and exterior finishes, and everything in between! However, you must consult with your builder before finalizing the layout for your new home, as some features may not be doable depending on your lot size and area restrictions. 

Buying Your Next Home With The Redbud Group

While it’s essential to weigh the pros and cons of buying a new construction home, you’ll ultimately have to decide what works best for you, your family, and your budget. Whether you choose to go with a new construction or an older property, there’s no denying that buying a home is a major life decision — and we want to help you through the process.
If you’re ready to buy your next home, our team at The Redbud Group is here to show you the top real estate that the Carolinas has to offer! We know the Carolina real estate market better than anyone else, and we would love to help you find the home of your dreams. Click the button below to get in contact with a Redbud Group REALTORS® today!

Work With Us

At Redbud Group, we understand that the home buying & selling process can be stressful. You want to make sure you are making the right move and getting the best price for your home. As always, we are here to help you take those first steps to buying or selling a home! Check out our home buying & selling tips and resources for in-depth information about the home buying & selling process.

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