If you’re thinking about buying a new home, it’s a great time to consider new construction. As the Triangle continues to grow, Raleigh is at the top for metros obtaining single-family building permits for new construction. That’s great news for anyone looking for homes in the area.
However, before you jump at the opportunity, there are a few things you should consider to begin the process. It helps to understand what goes into buying new construction to ensure you’re set up for success. Here are three places to begin.
Hire an agent
Buying new construction may seem straightforward, but you’ll still want a real estate agent on your side before you make an offer. When you hire a real estate agent, their job is to represent you. That role is the same with new construction.
A major role for your agent in new construction is negotiation. If you make an offer during the presale of the home, or if the home is still under construction, your agent may be able to work with the builder on things like upgrades, paint colors, and even amenities. In addition, an agent can help you navigate financing and the need for home inspections. Builders often offer incentives for financing through them, but your agent will also have preferred lenders as well, so be sure to shop around to find the mortgage that’s right for you. They’ll also work to ensure any repairs are fixed before you move in, which is highly important to you and the future of your home.
Research builders and neighborhoods
Put in the work to get to know the neighborhoods that are most appealing to your needs and the builders who offer homes within them. While it often takes time to do the research, companies like The Jim Allen Group have neighborhood guides that allow you to search for new construction homes by city and neighborhood. It’s a starting point for helping you determine what you’re looking for in a new home and community. Be sure to tour the communities you’re considering. Many builders provide model homes for you to walk through, which helps you get a sense for the quality of their work. Just remember that model homes are often fully loaded with all the amenities and upgrades, so ask what comes standard in the homes you’re touring. Also, ask questions about the costs of these upgrades, if buying a presale home, so there are no surprises, and you can wal away with a better understanding of total cost.
From there, spend the time finding the builder that best suits your needs. Spend time seeking out reviews and testimonials of the builders you’re considering. Ask your Realtor for their thoughts, too. You can even ask for a portfolio or references for builders to ensure you’re getting good feedback. Finally, have a good list of questions to ask a builder before you agree to work with them. You’ll both want to make sure you’re a good fit for each other and asking the right questions and hearing great answers will give you the confidence to move forward without hesitation.
Understand the timeline
New construction takes time to build. Step one of the building process involves the local government, which means the builder must apply for and obtain permits on everything from zoning to electrical work and plumbing. From there, it can take anywhere from several months, or even longer when building a home. Some neighborhoods may offer “quick move-in” homes if inventory allows. This means the home may be ready to move-in within a couple of months. Though we haven’t seen many completed “move-in ready” new construction homes lately, there are some neighborhoods that may have a couple.
You and your agent will want to work closely with your builder to understand the deadlines they’ve promised and to discuss alternative plans if something unexpected happens. For example, weather delays as well as the supply chain issues and labor shortages that have effected builders in recent months could slow your timeline.
If you have more time and flexibility in your schedule, you may want to consider a fully custom home, which typically can take longer than buying existing inventory from a builder. Be sure to ask questions to determine what’s right for your needs, as well as the timeline for a custom build.
Get in touch with the Jim Allen Group
The Jim Allen Group works with numerous builders across the Triangle to ensure homebuyers find the best opportunities for their needs. With homes in the top communities throughout the Raleigh-Durham metropolitan area, our top-performing agents are dedicated to your new home search. We look forward to working with you!
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One Response to “What to consider when buying a new construction home in the Triangle”
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