Last Updated on November 3, 2021 by Kravelv
You can either buy a prebuilt house or decide to construct it on your own. The latter is more hassle but offers a house customized to your wishes. Constructing a new house is a complicated process but this guide will help you identify the steps you need to take to have it done as conveniently as possible.
1. First and foremost, new home construction requires you to select a builder of your own choosing. This is easier said than done and can actually be a really daunting task. To simplify, you should recognize the architectural style you are looking for. Based on that, you will automatically narrow down your search to only those builders who are experts in that particular architectural style.
2. The second step is to vet the builder thoroughly. We would advise you to get a referral from your friend or family member so your search process filters out the builders who are reliable. After that, you need to verify the builder’s state license status. For example, check if they are certified by the National Association of Home Builders.
3. Ask the builder very specific questions like whether the site you want a home constructed on has any building restrictions, roads, utilities, and easements to inspections, warranties, rebates, and upgrades. If you have difficulty recognizing some of these technical terms, it is best to consult your trusted real estate advisor who can actually help you find the right builder suited to your needs. In fact, your real estate agent will clearly tell you the pros and cons of building your project and even review the builder’s contract, which usually contains a lot of legal jargon.
4. Lastly, understand that timing is everything. The construction and real estate market can be quite volatile. A builder is most likely to offer a discount when they have unutilized inventory on their hands. At this point, they want to score a contract as soon as possible and they would not hesitate of offering a lower price than they usually do. Here again, your real estate agent can help you figure out which builders can get you the best price plus they also know when the market conditions are just right to start building your house.
Also, look out for builder close-out sales – these are special events where you can receive a significant discount from the builder but again, make sure there are no hidden charges and trust your real estate agent who is knowledgeable and experienced in their field.