4 Costly Mistakes to Avoid When Buying a New Build Home

4 Costly Mistakes to Avoid When Buying a New Build Home

4 Costly Mistakes to Avoid When Buying a New Build Home

By Ruth Squires

Welcome to RES Luxury Group! We want to ensure that you make informed decisions when purchasing a new construction home. Our team is here to guide you through the process and provide you with white glove service and red carpet treatment.

When it comes to buying a new build, there are four costly mistakes that you should avoid:

1. Understanding the Builder's Contract

Many builders have their own contracts for purchasing new build homes. These contracts differ from standard real estate contracts, so it's crucial to thoroughly read and understand them. If you're unsure about any terms or have questions, consult a trusted attorney who specializes in real estate. Our team can connect you with real estate attorneys who can assist you.

2. Knowing the Difference Between a Spec Home and a Custom Home

A spec home is built for resale to the general public, while a custom home is tailored to your specific preferences. Spec homes are designed to be economically priced, with limited options and pre-determined models. Custom homes offer more flexibility but come at a higher cost.

3. Considering a Professional Home Inspection

While you can't negotiate the price based on inspection findings for a new build, we highly recommend getting a professional home inspection upon completion. This allows you to create a punch list of items that need to be addressed by the builder and contractors before closing. With a thorough inspection report, you have more leverage to ensure that all necessary repairs or changes are made.

4. Understanding Termite Handling

In Florida, termites are a common issue. New construction homes are treated for termites, and the termite company provides a termite bond as insurance against future infestations. To save costs, it's important to transfer the termite bond into your name and renew it annually. This way, you can avoid the expense of a new policy if you were to purchase a home without an existing termite policy.

If you're interested in learning more about these mistakes and how to protect your interests when purchasing a new construction home, watch this video.

For expert assistance and guidance in buying your new construction home, please reach out to Ruth Squires and RES Luxury Group at 352-794-1426. Your satisfaction is always our guarantee.

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