Here is what you Need to Know when buying a new home in 2022.
Model Homes: When looking at the model homes, remember that they
come with many upgrades that will drive the price up, so remember to ask what upgrades the model home has.
Upgrades: When considering upgrades, ask for a list of prices for each upgrade package. Remember what upgrades you originally wanted and stick to the plan if you go to the studio. You do not want to overpay for upgrades. In the end, these are considered cosmetic, and you may not get the return on your investment.
Base price: If you look at signs of new communities, they say Starting at. The base price will not include fees like lot premium or upgrades. However, some builders will charge a lot premium and base upgrade packages in their price. But not all builders, so always ask!
What’s included: Another thing to ask is what’s included. Some builders will include blinds, wash, dryer, and all appliances.
Lot premiums: Ok, so as you know, developers plan communities, and they price lots separately from the home price. Lot premiums can vary depending on the location. Waterfront, water view, back to conservation land will crease the cost of the lot premium.
Closing Fee Incentives: Ask what incentives the builder offers. Make sure if you are going to use the builder’s lender, you shop interest rates, and if the cash incentive is coming from the lender, it could be a higher interest rate.
Completion Date: You must have realistic expectations of when the home will be completed and when you will close. Expect delays and be patient. With material shortages, builders are behind, and houses take 2-3 months additional to be completed.
Make living arrangements, and don’t make any moves until your first walk-through is scheduled.
Hope you found these tips useful. If you have questions about new homes, feel free to call or text me @ 321.697.2426.