The process of buying a new construction house is somewhat similar to the purchasing of resale homes, but there are some key differences that should be considered. The first step is securing mortgage preapproval. This is a letter from your lender that outlines what they are willing to offer you based on your financial situation and specific terms. This is important to do before you begin searching for your dream home, as it will help you be able to present yourself as a serious buyer.

Next, you will need to choose a builder. Typically builders will advertise the base price of a home that includes standard finishes and features. However, these are just the basics and will not include any upgrades or selections that you may want to make. It is important to take your time and choose a builder that you feel comfortable working with, and that has an excellent reputation.

It is also recommended to have a real estate agent who specializes in new construction, as they will be able to guide you through the process and negotiate on your behalf. They will be able to explain any special risks associated with buying new construction and any concessions that the builder may offer. They will also be able to assist you with understanding the purchase contract and any builder’s deposit requirements as well as construction timelines and other contractual details that are unique to new construction.

During construction, it is recommended that you hire your own independent home inspector to walk through the property and ensure that everything is being built as promised and in accordance with local building codes. The inspector will check the structure, insulation and air sealing, roofing, appliances and plumbing as well as inspecting for any pest infestations or mold issues.

After the inspection, you will be able to address any issues that need to be addressed with the builder and request changes to your home. It is a good idea to have your builder prepare a warranty for you, so that if any problems occur within the first year of owning your home, you will be covered.

When you are ready to close, it is a good idea to have all buyers that are party to the contract present at closing, including non-purchasing spouses. During the closing, you will go over all of the paperwork with your Realtor and sign on the dotted line. Then, you will receive your keys and become a new homeowner!

Whether you are looking to buy a custom home or a production home, Orchard can help you find the perfect place. Our team is highly experienced in all aspects of the real estate transaction, and we will be with you every step of the way. Contact us today to get started! We look forward to working with you.