Real Estate Video: Questions to Ask When Buying New Construction

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1) “What financial incentives do you offer for using your preferred lender?”

Production builders are often reluctant to set a precedent for negotiating sales prices. However, many offer handsome incentives to buyers who use their preferred lender. Some may provide closing cost or upgrade add ons.

2) “Which are the standard finishes?”

When you tour a development’s model home, keep in mind that you’re previewing a high-end version of the standard home. “The model has all the bells and whistles.

3) “What are your long-term plans for the community?”

Depending on the size of the land, the builder might be planning several subdivisions. This could impact your decision to buy.

4) “What are the homeowners association rules and regulations?”

Each homeowners association (HOA) has its own Declaration of Covenants, Conditions, and Restrictions (CC&Rs) and bylaws. Get these from the builder and review them carefully.

5) “What warranties do you provide?”

Most builders offer a one-year workm...

Channel:  Ken Mucha
Topics:  Society