5 QUESTIONS TO ASK WHEN BUYING A NEW CONSTRUCTION HOME
Choosing the right home-building company is an overwhelming decision. As you begin interviewing builders for your new dream home build, here are five helpful questions to ask a new-home builder to help clarify the important aspects of a new-home-construction process, so you can feel confident in making your decision:
1. HOW MUCH BUILDING EXPERIENCE DO YOU HAVE? DO YOU HAVE REFERENCES OR EXAMPLES OF PREVIOUS WORK?
While it’s important to establish how much experience your potential builder has, it’s even more vital to identify the type of experience a home builder provides, and whether it aligns with your family’s needs. Not all experiences are equal. Ask your home builder for references of previous customers to inquire about their unique experiences, and perform your own research into customer reviews outside of their references. For potential buyers with new home building questions, we encourage you to read testimonials from previous clients, so you get a fuller picture.
While loyal customers speak volumes, quality work speaks for itself. When vetting your home builders, request to see some of their previous work, so you can get an idea of the types of projects they’ve produced and their unique style(s). You should never feel bad for asking your home builder for their credentials and examples of work.
2. HOW MUCH WILL MY HOME COST?
When buying a home, it’s necessary to know if you and your family can afford it. Before meeting with a home builder, you should have an idea of what your maximum budget is for your home, so you can determine where you need to draw the line. Then, discuss your thoughts and goals for your new construction home with your potential builder, and ask what plans may work within your parameters. It’s important to note that baseline pricing is just a launching-point figure. There are so many variables that’ll affect the bottom line, such as location, builder, size of home, design finish choices, and upgrades, etc.
When a home builder provides you with a baseline cost, inquire what specifically is included in that number. Many homebuyers don’t realize that the baseline costs often come with standard design elements, and some of the upgrades they’re envisioning are add-on costs.
As you meet with your potential homebuilder, consider asking if they include these common elements within the base cost or as additional upgrades or costs:
● Lot space
● Finishes (e.g. countertops, flooring, fixtures, etc.)
● Appliances (e.g. refrigerators, washer, dryer, etc.)
● Lot Excavation
● Landscaping
3. WHAT WILL THE ENTIRE PROCESS LOOK LIKE, AND HOW LONG WILL IT TAKE?
New home construction takes time, but you should always ask potential home builders how long they estimate your project will take, so your family can budget and plan accordingly. While new builds are vulnerable to delays and potential setbacks, your builder can provide you a general time frame. Ask your builder for a detailed description of their building process, so you can determine if you need to add on time to account for finding a lot, permit processing, etc.
4. WHAT WARRANTIES DO YOU INCLUDE?
Even though your home will be brand new, there still can be a risk of something breaking down. It’s standard practice for quality home-building companies to provide warranties on your home. Ask your potential home builder what warranties they include and for what length of time they’re in effect. You invest a lot of time, energy, and finances into your dream home, and warranties can really bring some peace of mind, knowing your home is protected.
5. HOW DO YOU HANDLE DELAYS OR CONTINGENCIES?
In the home-building industry, delays and contingencies are often expected, and some home builders may even proactively account for contingency funds and time within your initial cost and schedule estimates. Ask your potential builder how they handle delays as they arise, and you can see how each builder responds to issues and how aware and involved they intend to make you in that process.
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