This post may contain affiliate links. Read the full disclosure here.
Thinking of moving into a new build? Such properties can have many perks; however, it’s important that you compare your options when it comes to developers, locations, and property designs. Below are a few important considerations that will help you to find the right new build for you.
How much customization do you want?
Moving into a new build typically involves reserving a property while it is being built. If you’re weighing upgrade options, getting construction estimating services can help you price out finishes and scope changes before you commit to them. Some developers will offer limited customization during the construction process, while others will allow you to choose everything from the layout to the type of flooring you want. If the idea of a custom home appeals to you, make sure to find a custom new home developer.
What sustainability features are in place?
New homes are typically very energy-efficient, however, sustainability features can still vary. Some are made from green materials, while others are more artificial. Some contain solar panels, while others don’t. With a custom home, you may have more freedom to choose the sustainability features you desire.
When can you move into your new home?
Unless you’re able to find a new home that is already built, you will have to wait until construction is complete. Some projects can take several months to complete, while others can take several years. Make sure to ask about the date of completion and how likely it is to be delayed.
Does the developer have a good reputation?
It’s important to choose a developer that you can trust. Check reviews to see what other clients think of the developer – are they mostly positive? It could be very risky to work with a new developer as you won’t be able to determine the quality of their work; however architects and contractors may still have experience working with other companies that you can look into.
Where will your new build be located?
Think about where you want your home to be located. Most new builds are constructed in the suburbs or in fairly rural locations, but it is possible to find urban inner city new build projects. Some new builds may be part of entire new communities with various shared amenities ranging from shops to shared pools. Such features could encourage you to mingle with your neighbors and reduce the time spent travelling to shops and other public services.
What is the warranty period?
New homes typically come with a warranty. This can cover any snags you may encounter in the first few years, such as cracks in walls or electrical issues due to faulty installation. The average new build warranty is about 10 years. Be wary of working with developers who offer very short warranties.
How will you fund it?
Most people will take out a mortgage to pay for a new build. It’s important to compare your mortgage options to find the best rates. If you’re a first time buyer or a veteran, you may be entitled to exclusive new home incentives such as grants or low down payment mortgages. Mortgage brokers and developers may be able to help you explore funding options.
*This article is based on personal suggestions and/or experiences and is for informational purposes only. This should not be used as professional advice. Please consult a professional where applicable.