What are some important questions to ask home builders when purchasing a new home?

What are some important questions to ask home builders when purchasing a new home?

First of all, before you speak with the builder, GET REPRESENTATION. Some home builders will not allow you to get your own representation after you talk to them. You want someone who will look out for YOUR best interests so the first thing to do is to find a REALTOR®. They can be a tremendously asset and advocate for you when building a new home. There are so many questions, where to begin... 1) Build vs Buy Existing - In today's market, there are some excellent deals to be had. You might find a much nicer home at the same price as new construction. 2) Production vs Custom - Is the builder a custom builder or a production builder. This is important if you want to make changes or if you want your home to be a true "individual". In other words, do you want your home to look similar to all of the others in the neighborhood? 3) Is the builder experienced in your area? - Building in a cold weather state is far different from building in a hot state. Is the builder experienced with the climate in your area? You want someone who is experienced with the amount of snow, rain, wind, and heat that you are likely to experience. 4) Ask for a list of homes they have built in your area - and then check their references. Ask others who have purchased their homes what their experience was like. 5) Ask about closing costs - What they are, which ones are necessary, and which ones are optional. 6) Financing - What are your options if your financing falls through? 7) Committment - what happens if something prevents you from purchasing the home (what if you get laid off, injured, change your mind)? What do you lose? 8) Warranties - Some states have mandatory warranty periods and others do not. Find out what recourse you have if things go wrong. Those are just a few... Building can be a big headache. Get representation and you should be better off.