6 Things to Know About New Builds

This past week agents in our office were discussing the benefits and downsides of new construction. You've probably driven by the La Colina Estates by William Lyon Homes or the new builds in Rancho Cucamonga by Victoria Gardens. The first thing I wanted to mention is that you can still use a real estate agent when you are buying a newly built home! In fact, if you are not sure whether you want a new build or existing construction, having an agent guide you through the process will make your home buying journey considerably more enjoyable and easier.  Using a buyer's agent is free - there is no invoice for services, open house tours, buyer showings, or offers written. When I do my buyer consultations, I ask whether a new build is something they are interested in.  Here are 6 things that you should know about New Builds.  With anything, there are pros and cons, but ultimately it comes down to whether you want to purchase a new build and it fits your lifestyle and budget.  1. Price Point - Statistically, new builds cost more than existing construction for the same type of house. This makes sense - a brand new car from a dealership will be more expensive than the same model that is a few years old. Most newer homes have energy-efficient appliances and more upgraded home features like dual-pane windows and smart home technology.  2. Customize - You can personalize the home! New Builds offer more options for customization and upgrades! You can choose the kitchen tiles, flooring, cabinets and colors ahead of time. (Con: upgrades typically cost more).  3. Repairs & Maintenance - New builds have less maintenance and repairs in the first few years. Everything in the house should be brand-new. Unlike an older home that might need significant repairs, a new build is considered more "worry-free".  4. Timeline - You might have to wait for the new build to finish being built. A builder might start promoting the development before it is fully built. You might be 3-6 months out from moving in to the property you want.  5. Location - Where are new homes being built? Typically in areas farther away from city centers, away from older neighborhoods, and more on the outskirts of suburbs. If you are set on a new build, there might not be that many options in more established neighborhoods or cities.  6. Negotiations - When you are buying existing construction, you are negotiating with a seller. When you are buying a new build, you are negotiating with the builder. Oftentimes, there is less room for negotiations with a new build.   New builds are sparkling clean, beautiful, and ready to move in! There is no history of the property, deaths in the home, or leaking roof. But, they usually come with a higher price and new communities might have a different feel than established neighborhoods.  Let's talk about what your "Must Have" features are in a home. I'd love to meet you for coffee at a Starbucks nearby you - whether it is work, school, home, or your errand route. Dondino P.S. If you are interested in purchasing a new build, rental property, downsizing, or moving closer to schools/work, give me a call. This is what I do every day.  Source:  https://www.realtor.com/advice/buy/should-you-buy-an-old-house-vs-new-house/

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