A new home is much easier to sell than an old one, but there are some things to consider before making the final purchase. While bidding wars have decreased nationally, they are still more common in California. You can expect nearly 60% of resale properties to have multiple offers. In addition, buying a new home is less stressful than reselling, since you'll have an entirely new home to decorate and customize. And, when you choose a new builder, the entire process should be quick and painless. First, remember that new home builders at http://prestigeprops.com/ carefully select the neighborhood in which their homes will be built.
Typically, new communities will be located in desirable neighborhoods, close to work, good schools, and recreation. Many buyers look forward to building strong ties with their new neighbors and making friends in their new neighborhood. But, as with any new home purchase, make sure you understand the rules and regulations of the neighborhood you choose. To avoid having to deal with these pitfalls, you can get a home inspection before you purchase a new home. When buying a new home, make sure to contact local lenders that have experience in the process. You'll need to be able to lock a rate for a longer period of time, and your loan should be for a longer period. Ideally, your lender will be willing to work with you to set the terms of the mortgage, so you can lock the rate for as long as you need. Make sure your new lender is willing to work with you. Lastly, be prepared for additional expenses. New homes typically come with extra expenses, such as landscaping, irrigation systems, mailboxes, and window treatments.
If you're buying a new home, expect to pay more money than a resale. Depending on your needs, you'll be faced with some unexpected expenses, such as a high-school, sports facility, or child's room. However, you can easily mitigate this risk by investing in additional amenities. Check out this website at http://www.huffingtonpost.com/gabriel-shaoolian/real-estate-website-desig_b_13376888.html for more info about real estate. Before you sign any contracts, get a copy of your credit report. This document provides the lender with vital financial information, such as employment history and residential addresses. Many builders also recommend a preferred mortgage lender. This helps reduce their costs and keep profits in-house, but it also keeps you informed of any issues that may arise. If you're buying a new home in an area with high risk of lead contamination, you need to know this information before signing a contract. While a real estate agent is not necessary for buying new construction, you'll almost certainly encounter one while you're shopping for a new house.
The agent represents the builder, and should tell you if the builder has hired an agent. Then, you can choose an agent with the experience about this buying new homes. They can help you make an informed decision on the right builder and minimize the risks and headaches of buying a new home.