Some people go into buying a house or building a home and become victims of a shady home builder. This is not to say that ALL builders, their realtors & lawyers are dishonest. But just like so many other professions, there are bad apples in the bunch. As a potential home buyer it is imperative that you be educated, well informed, and surround yourself with trusted knowledgable people. In other words, make sure that you handle your due diligence.
Below are a few things you should know when you are building your home or buying a new home from a home builder.
1. Research the community where you intend to build. What is the cost of living there? Know the TAXES etc.
2. Some builder homes are nothing more than an assembly line of generic plans. It's good for many, but is it right for you?
3. Research and uncover the true reputation of your home builder.
4. Research the neighborhood. Know your rights as a property owner ahead of time.
5. Don't fall in love with the model home. After you cut back on the upgrades, your home will likely look like the rest of the assembly line homes in the neighborhood.
6. Know your budget as well as your needs by the time you meet with an sales agents.
7. Don't give in to upgrades especially if it isn't in your budget. Otherwise, you should prepare yourself to spend more money upfront at or before closing.
8. Have a clear understanding of the homeowner's warranty. Know the details concerning the new home warranties and protect yourself from the fine print of home construction warranties.
9. Have a good working relationship with your home construction supervisor. Don't be reluntant to research his or her experience and get the quality new home construction you paid for.
10. Hire a good home inspector. Consult trusted people to recommend an inspector who will look out for your best interest and not the home builder.
11. Do walk throughs. Know the purpose of a "walk through", which is an inspection. You will have at least one inspection prior to closing with your builder. Know how to identify problems with your home an have them addressed before you close the deal with final payment.
12. After closing on your new home, problems may pop up. Know how to get them handled properly.