If you are in the market for new houses in Winnipeg this year, there are specific things that you have to look for. Different than buying a home that is already built or in an established neighborhood, new home builds create all sorts of extra things for you worry about.
Although it is exciting to create something all your own, it is also critical that you understand the uniqueness of buying new and what dealing with a builder and designing your own one of a kind home entails. To make sure that you have dotted all your i’s and crossed all your t’s, take these nine must-dos into consideration before signing the contract for your dream home.
1. Use a real estate agent
Your new home might be a new thing to the homebuilding world, but a real estate agent is not. For new construction, the seller is usually the one who is responsible for the commission of a real estate agent, which means that their fees probably won’t be coming out of your pocket.
There are really no reasons for a buyer not to use a real estate agent. The real estate agent can make sure that the contract is in order and that you aren’t forgetting little things that can mean a whole lot.
2. Check the reputation of the builder
The quality of the construction of your new home is guided by the expertise of your builder. Make sure that they have a good reputation in the community, that they are licensed and that they don’t have any claims against them.
If they have a proven track record, you are much safer than if you don’t know what their history is, and you will be able to trust in the quality and value of your home.
3. Make sure the community is sound
Your property value isn’t just about your home; it is also about the neighborhood in which the house will eventually reside. Before you consider moving to a new community, make sure that it is in the location that is desirable enough to have a decent resale value. That way if you do decide to sell your new home, you will recover the costs.
4. Think about the size over the upgrades
Sure, it is really nice to have all the high-end appliances, but most upgrades can be added later. What you can’t alter or change, once you move in, is the square footage or the layout of your home. Spend the money wisely by spending on those things that are permanent.
5. Don’t overprice your home
If there should be a time that you are ready to move on and move out, you don’t want to overprice your home by over improving everything in it. Your home price is going to be hugely dependent on what other homes in the area are worth. If you put too many upgrades into it, you aren’t going to get your money back because those looking in your area probably have expectations about what local home should cost.
6. See examples of your floor plan
Sometimes it is hard to envision a floor plan from just looking at the blueprints. If there isn’t a model with the same floor plan to peruse, ask the builder if they have any other homes that you can walk through to get a feel for the size and layout of your own. What looks good on paper might not be so good to live with. Taking a peek beforehand will help you finesse your details.
7. Understand warranties
One of the biggest advantages of owning a new home is a home warranty, but, only if it is actually valid and real. If you aren’t sure the exact specifics of what your warranty will and will not cover, get it in writing. Then ask questions. Then as more questions. Look over the warranty from top to bottom and have your lawyer do so, too, especially if you think there are any vague areas or exceptions that you aren’t okay with.
8. Get an inspection
Just because it isn’t an existing home, does not mean that you don’t need a home inspection. Before you move into the house and take ownership, make sure to have a professional inspector, one who is a third party, look over the building to ensure that there aren’t any mechanical or any other defects lurking in the shadows.
9. Look around for many lenders
If might be tempting to take home builder financing options since they can be tied to the house, but, building financers aren’t always your best or cheapest option. Like buying any home, new or used, you want to make sure that you are getting the best financing options available.
Building a new home is one of the most exciting things that any homeowner can be a part of. To make sure that your dream house doesn’t turn into a nightmare, do these nine musts while entering new home ownership.
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