Share This Article
If you’re considering buying a new construction home, it’s important to know what the process involves. This will help you decide whether it’s right for you!
Buying a newly built home is a great option for people who want to customize their new home. They can also choose from a wide range of floor plans and features.
1. Find a Builder
Buying a new construction home can be a great way to get your dream house. However, it’s important to know what you want in your new home before choosing a builder.
You should start by finding a builder that you trust and can work well with. Make sure they have a good track record and offer quality homes.
Once you’ve found a builder, you need to decide on a floor plan and make an offer. This will require a lot of communication between you and your builder.
In addition, you should make a list of what you want in your new home. This will help your builder give you a better estimate. Having this list will also allow you to discuss any potential issues with the builder.
2. Decide on a Floor Plan
The floor plan is one of the most important components to decide upon. It will establish where walls, windows, doors, and other structural elements are located throughout your home.
Some floor plans also indicate fixed installations like bathroom fixtures, kitchen cabinetry, and appliances. They may also show furniture layouts and include outdoor areas.
Depending on your budget, you can choose a free-flowing floor plan or a segmented design. Either option will allow you to create the space you desire in your new construction home in Indianapolis.
A floor plan will help you visualize what’s possible in your new home and communicate your ideas with architects, designers, and contractors. It will also make your new home more attractive to buyers!
3. Make an Offer
Buying a new construction home can be an exciting time. It’s a great way to get into a new neighborhood, and if the area is growing fast, you may be able to find an affordable option that fits your budget.
If you’re looking for a new construction home in Indianapolis, your best bet is to use a Realtor. Not only can she offer you assessments of builders and Indianapolis-area communities, but she also knows what incentives and mortgage programs are available to buyers.
Your Realtor will help you make an offer that reflects your specific needs and preferences. Then, she will work with the builder to negotiate everything from price to upgrades and closing costs.
4. Negotiate
Buying a new construction home is a big investment, and you want to make sure that it’s worth it. That’s why it’s important to negotiate the price.
This process is easier if you’re working with a real estate agent who has experience with new construction homes in your area. They can help you with negotiating the best possible price and guide you through the process.
Typically, builders will stick to their guns on pricing, but there are some instances where you may find wiggle room. For example, if it’s the last house on the lot or if you are purchasing the model home, you can ask for a lower price.
5. Close on the Home
Closing on the home is an exciting moment and a big milestone in any new home purchase. The builder, your real estate agent and the title closer will be there to help you complete this exciting home ownership journey.
You’ll receive a closing disclosure, a five-page document that includes your loan details, mortgage information and fees. You should review this at least three days before your closing appointment.
You’ll also have to secure homeowners insurance before your lender approves you for a mortgage. You should bring this paperwork to your closing appointment as well.
