Buying new construction can seem like a good way to avoid a lot of the headaches that come with older homes. With things built to your specifications and a brand new everything, you’ll pay a lot less in decor and maintenance costs.
But new builds do have some hidden costs that could end up putting a big dent in your wallet. Here’s what you need to know:
1. Understand that the model home is like the top trim package on a car–it has all of the upgrades. And those upgrades probably cost thousands of dollars. When you tour the model home, pay attention to the things that will definitely be in your house like the layout.
2. Know what’s included in the base model. Some base models come with appliances and all of your home necessities included while others come with just the bones of the house. It depends on the builder, but you need to know exactly what you’re walking into.
3. Read the warranty. Not all builder warranties are the same, and they will cover different things. Make sure you understand what will and won’t be covered so you aren’t surprised down the line.
4. Use your own agent. The agents working at the new construction are the builder’s agents–not yours. That means they work to get the builder the best deal possible, even at your expense. Protect yourself and get a fair deal by hiring your own buyer’s agent.