Thinking Of Buying A Home In A New Real-Estate Project? How To Avoid Problems With The Purchase
If you've decided to get in on the first floor of a new housing project in your area, you'll need to do your homework. Buying a home in the first phase of a new project is always exciting, but you do need to make sure that you're ready for the process. Here are four steps you'll need to take that will take some of the stress out of buying a home that's part of a new real-estate project.
Stop by the City Planner's Office
If the home you're looking at is part of a new housing development and the surrounding land has not been developed yet, you'll want to stop by the city planner's office. That's the best way to find out what how the surrounding property will be developed over the next few years. After all, you don't want to purchase a new home only to find that future plans include developments that will reduce the value of your property or interfere with the safety and security of your new home.
Work with Your Own Agent
Now that you're looking to buy a home in a new real-estate project, you'll need to work with your own agent. In most cases, there will be an agent assigned to the project, and they'll be readily available when you visit the model homes. However, those agents will be representing the developer, which means you'll need an agent who will be representing you. Working with your own agent will ensure that you understand the process and that you get the best deal possible out of your real-estate transaction.
Know What's Included in the Home
When you tour the models, you'll notice that they have quite a few upgrades. Some of those upgrades will be included when you buy your home, while others will not be part of the package. Before you purchase your home, it's important that you get a list of the model upgrades, as well as the cost of adding those upgrades to the purchase. If the upgrades aren't included in the purchase, be sure to ask to have a look at the standard items that will be used in your home.
Look for Ways to Sweeten the Deal
If you're going to be purchasing a home that is a part of a new real-estate project, you'll want to look for ways to get a better deal from the developer. In most cases, the developer won't budge on the actual selling price of the home. However, they may be willing to include incentives to sweeten the deal for you. Some things you can ask for include upgraded appliances and flooring and extended home warranty protection. These added incentives are a good way to get more for your money when purchasing a brand-new home.