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Deciding to purchase a new home can seem like an overwhelming task at first. However, if you
follow these tips the process of purchasing a new home will be easier.
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| 1. |
Have a plan. Limit yourself to the number of model homes and neighborhoods you visit in a day.
Make notes about what you like and don’t like about each model home. This will help you keep the
different home plans separate and you will be less confused at the end of the day.
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| 2. |
Negotiating a new home purchase can be tricky for a first time homebuyer. Many Real
Estate agents don’t have the ability to negotiate the purchase of a new home. They will need
to present your offer to the builder who many accept, reject or counter your offer to purchase
a new home. Keep in mind that it may take some time to hear back on the negotiations of your new home.
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| 3. |
A tip for first time home buyers is to understand the benefits of buying vs. renting a
home. Building equity in your new home is like having a savings account. Another advantage
that first time home buyers may not realize until they purchase a new home is tax advantages.
You will save money by owning a home vs. renting. First time home buyers who are renting should
buy a home as quickly as possible. There are special mortgages available for first time home buyers.
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| 4. |
Ask the home builder what their process will be for building your home. Make sure
that the home builder can easily explain to you what is involved and what your responsibilities
are in purchasing a new home.
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| 5. |
Apply for a mortgage early and lock your mortgage rate late. Many home builders expect
verification that you qualify to purchase a new home before they even begin to build your home.
However, you must be very careful not to lock your mortgage rate too soon. The rate lock must be
good through your home closing, so make sure to not lock your loan until you have a guaranteed
closing date on your new home.
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| 6. |
Have fun! Building a new home means that you get to pick all the interior finishes for
your new home. Many people choose to build a new home over buying a used home because of this
reason. Building a new home should be fun and exciting – especially for first time homebuyers!
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We hope these new home buying tips have helped make the process easier for you. Visit our
new
home plans and neighborhoods to select your new home!
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