So, you’re getting ready to purchase a home in Texarkana but instead of buying one that’s older and could possibly require some home improvements, you’ve been considering buying a new construction home. But you’re unsure about how to go about doing so. If you are unfamiliar with the process of how to buy a house, I would suggest going and reading “First time home buying tips for Texarkana” and get more comfortable with that process before continuing on. By doing so, it will significantly help you with the buying a new construction home process.
This might just be the most important part in buying a new construction home in Texarkana. Doing research on different neighborhoods as well as the future plans for them will help narrow your search on which community would best suit you. Doing research on builders would also be equally important.
Team up with a Lender on a Mortgage
Once educated, it’s time to go money shopping! Because of the fact that there is so many different options, it is so important to find the mortgage lender that’s right for you. Meet with multiple lenders and ask for their rates and options rather than just deciding to go with the first one you talk to.
Find a Realtor
You most definitely will want to get a realtor when buying a new construction home in Texarkana. Builders pay the agent’s commission! Which means the builder will be paying your agent to help negotiate to ensure you receive the best deal possible. Find a realtor that you think you will work well with, isn’t afraid to tell you the truth, and will also explain everything throughout the whole process.
Develop a Plan
Now that you have a team put together, it’s time to start developing a plan. Your realtor will help you figure out what you want, and what you must have, in your home. This is also the time where you will start the process of finding a builder.
Find and Research a Builder
Researching the best new home builders and new home neighborhoods in the Texarkana area is an important, yet simple, process. Online reviews is a good place to start. If possible, connecting with current residents in a new developing neighborhood via social media is a great way to hear their first hand experience with the builder. Never be afraid to ask the builder a lot of questions!! A good question to always ask is “what are the future plans for this community?”
Negotiations for Buying a New Construction Home
When it comes to negotiating, this is one of the most important reasons to have a realtor representing you. They have experience with doing these kind of things as well as knowing the ins and outs of knowing how to secure you the best deal possible. You might think that in order to get the best deal possible that would consist of a lower price. But no, the best way to negotiate with builders is upgrades! By them giving upgrades, it’s an easy way to maintain the value of the neighborhood while also giving you a deal.
Get Everything in Writing
When working with a respectable builder , there is a good chance that they will honor what they say. But this is another important reason in having a realtor. They will ensure everything is in writing and that the documents are signed.
Even though its a brand new home, people make mistakes. Inspectors can find things that the builder may have forgotten to do, potential future problems, or just ensure you that everything is great!
New Construction Home Warranty
Typically builders will have a home warranty that they can give you. The coverage varies from builder to builder, and sometimes you can even negotiate the warranty into the deal or add things that the warranty wouldn’t normally have covered. Definitely ensure you completely understand everything that is covered by the builder.