December 31, 2021

5 New Construction Home Buying Tips: How to Buy a New Home

Buying a new home is a lot different from buying a pre-owned home, there are things you must consider in this case. Scott Vanderspek has broken down the new construction home buying process and is offering a few tips to remember.

It’s important to have a real estate agent who is looking out for your best interest, and who has experience with new construction homes. Scott Vanderspek has a passion for helping families find their dream home in Surrey, British Columbia. He can work with you to search for new homes for sale and be by your side throughout the entire process.

1. Understand the New Home Buying Process

Buying a new home isn’t exactly the same as buying a pre-owned home and one reason is that you are buying from a builder or developer, and not a homeowner. But this can mean that you don’t have to deal with any emotional ties that a homeowner typically has when selling their home.

The home isn’t built yet, so you still have time to personalize some features in some cases, but you will have to wait to do other things such as a home inspection.

While it may include more steps to make that home yours, you get the bonus of having a brand new space that no one has lived in. Be prepared by knowing that the process is a little different than buying a pre-lived home.

In this article, Scott has highlighted the steps you must take during the buying process for a new home.  

2. Work with an Experienced Lender

You will need to acquire a home construction loan if you are purchasing a new home where the builder requires installments as the home is being completed.

This allows you to take release advances during the construction of the home, and once the build is finished you can either transform the home construction loan into a traditional mortgage or get a mortgage separately.

Your builder may be able to recommend a suitable lender to you, but always make sure to do your research and ensure they have a good reputation. You should go with a lender that has experience dealing with home construction loans.

3. Find a Realtor You Can Trust

When buying a new construction home, a realtor can be a valuable ally. A good realtor can help you find a reputable builder, negotiate the best price and navigate the complicated paperwork.

Be aware that typically, the builder will pay your agent’s commission. The builder may ask you to use their agent but you are allowed to find your own representation. When choosing a realtor, it helps to find someone who has experience in new construction and who knows your desired area very well.

You need a real estate agent like Scott Vanderspek, someone who puts your needs first when searching for new houses for sale. He will work with your schedule and budget when finding a builder for you.

4. Research the Builder

Once your real estate agent has helped you find some builders you need to do your research on them. This is something your realtor can help you with, but we have outlined some things to look out for to get you started.

You can start by talking to some neighbors whose homes are being built by the same builder. Ask about their experience with the builder, how they feel about the quality of the materials, if they have made any structural changes, and their overall satisfaction.

Next, verify what warranties the builder offers. Make sure the builder's warranty covers all items that are covered by local building codes, such as the roof, plumbing, electrical and HVAC system.

You can also do an internet search on the builder, looking at their social media profiles and any testimonials.

Be sure to choose the right builder so you can ensure a smooth construction and post-construction process.

5. Think About the Future of the Community

If you are buying a new construction home in an up and coming neighbourhood, you will need to do some research to find out what kind of amenities will be nearby. Are there plans for a park, an elementary school, a supermarket? These are things you should take into consideration.

It’s a good idea to find out if there will be more building in your area as this may affect the noise levels and traffic.

Conclusion

Now that you are equipped with these 5 new construction home buying tips, you are ready to start looking and reach out to a real estate agent.

Scott Vanderspek is a professional realtor specializing in Surrey real estate. If you are looking for a new construction house for sale in Surrey, there’s no better agent than Scott. He is dedicated to ensuring his clients’ satisfaction and making it a smooth and stress-free buying process.

Reach out to Scott today to learn about the upcoming new construction homes in the Surrey.