Basics of Property Management: Screening Potential Tenants

Fresh Out The Box: Surprises And Considerations When Buying A New Construction Home

7 June 2021

Jesse Obrien

If you're in the market to buy a house, then you'll find that you have two main options for purchasing: a resale home or a new home that was constructed by a home builder. A new home builder is also known as a developer. Many homeowners prefer to purchase from a new home builder because there's nothing like buying a brand new property. No one has ever used any of the appliances or the major components inside the house! Best of all, you don't have to worry about buying the previous owner's problems, although you should always have any property you're going to purchase inspected. While the newness of the property itself and the purchase might sound very appealing, know that there are considerations that come with buying a newly developed property. Consider a handful below.

Your new property might be far from all of the action

There are always compromises that need to be made when buying a new house. In order to buy your new dream home, you might need to prepare to drive far for a night out on the town since most are located in suburban areas. The same is true if your workplace is located in the city's center. 

Think about how you work and play. If you don't mind a bit of travel, then it doesn't matter. But if living close to work and entertainment is key to you, then you're going to make important decisions about a potential new home purchase. 

Your landscaping will also be brand new

While you might luck out and find fully flourishing landscaping on your new home property, it's far more common to find that you're going to develop your landscaping from seedling and beyond. This also includes growing trees. Does all of this appeal to you? 

Perform due diligence on home builders in the area

You'll quickly learn that not all homes are built equally. You'll have to perform your research to learn what can you expect from a particular new home builder. What are some of their architectural trademarks, and can you live with them? What is their typical buying and closing process? Know that the process is going to look and feel a lot different than if you bought a resale home, especially if you're financing.

You might have to deal with HOA red tape

HOAs are often part of life in a subdivision. But many HOAs are notoriously heavy-handed about rules. They can institute rules down to the type of plants and trees you're allowed to plant on your property. They can also institute the hue and finish of paint you apply to your house. 

Be sure to check out your potential neighborhood's HOA rules. See if these are to your liking. At the very least, you should feel indifferent about them. If you imagine your life in the neighborhood to be rife with HOA power, control, and red tape, then look for a house in a neighborhood that doesn't have an HOA. 

Reach out to a home builder to see what's available. 

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