Opportunities to purchase new construction homes are plentiful right now, especially in Lee County. This local trend has been reflected in the past few years on a national scale. According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of new homes increased to an eight-year high in 2015. In February 2017, the National Home Builders Association reports that there were 592,000 new homes sold, compared to 525,000 in February 2016.
The number of new construction homes available for sale has steadily increased since February 2015, the National Home Builders Association data reveals. There were 204,000 new homes for sale in February 2015 compared to 242,000 in 2016 and 266,000 in 2017. With an abundance of new construction homes available, choosing new construction over existing homes may be something you have considered for your next home purchase. Before deciding on a builder, a neighborhood and a home, ask the builder these questions to make sure you are making the right decision to satisfy your wants and needs.
What finishes come standard?
When you tour a model home, keep in mind that it likely showcases all of the top tier finishes and aesthetic accents. Ask the builder which finishes come standard, which ones are considered upgrades and what those upgrades cost.
What are the future plans for the community?
Talk with the builder to learn about long-term plans for the community, such as how many more houses or subdivisions will be built. If only a few homes have been built so far when you first tour a community, find out what the end result will be and imagine if it coincides with what you want for your neighborhood. Also, if construction will be ongoing for quite some time, make sure you feel comfortable with that.
What about the homeowners association?
As we explained in the blog HOAs: What Are They, and What Are the Benefits?, a homeowners association and how it operates can affect your decision as to whether or not you want to be a part of that neighborhood. In most communities with HOAs, residents pay a monthly or annual fee in exchange for upkeep of common areas, landscaping at the neighborhoods entrances and exits and other amenities depending on the neighborhood and what it offers its residents. Ask the builder for the HOA’s Declaration of Covenants, Conditions and Restrictions and bylaws and read them over carefully. Make sure that they are rules you can live with—and that the fees charged are ones you can afford.
What kind of warranties do you offer?
Find out exactly what is and what is not covered in the warranties a builder offers. Get the answer in writing, and make sure it is included in your contract.
Can I talk to your references?
Talk with past clients before deciding on a home builder about how the building process went and note any red flags. In addition to references the builder gives you, look for other reviews online, or talk to people already living in the neighborhood to determine if they have had any deal-breaking issues.
Choosing new construction over buying an existing home is the path to being able to completely customize your living space. Having a say in your house before it is a home can give you more satisfaction in the buying process and can make the end result more enjoyable!
To learn about new construction homes in the Auburn and Opelika area, contact Realtor Ryan Roberts today at 334-750-9872, or email [email protected]!
