While there are some similarities with buying an existing property, purchasing a new construction home does have its own unique aspects and challenges. If you’re looking for a modern build in Orange County, for example, you are going to be limited to areas where these homes are being built in the first place.
1. Our first advice when thinking of buying a new construction home is to do your research as fully as possible. That’s not just finding out about the industry but also looking in detail at any community you want to move into.
2. Having a good level of knowledge and educating yourself, will reduce the chances of things going wrong and will save you money in the long term. We also advise researching the builder, including any subcontractors they may work with.
3. Unless you have the money already in the bank, you are going to need to organize a lender for your new property purchase. It’s not a question of settling for the first one you come across and who agrees to lend you a mortgage. It’s down to the best deal you can get. Shop around for a partner who really delivers what you need and be prepared to take your time.
4. What comes next once you have chosen your ideal property and community? There now follows the negotiation – what you are going to get for your hard earned or borrowed cash. That’s why it’s always a good idea to have a competent realtor on your side, no matter how great the new construction home looks from the outside.
5. Finally, you need to ensure that everything is in writing and that you read those documents carefully and get a lawyer to go through them for you. The last thing you want to find is that you are put at a disadvantage because of some missed or misunderstood small print.
If you’re looking for a new construction home in Orange County, be certain to check out the Miraval community currently being built in Mesa Verde. Contact us today to find out more.