Buying a brand-new home is pretty exciting! After all, it’s basically built just for you. It’s hard to beat the modern designs and amenities; and the confidence that there aren’t going to be any underlying maintenance issues or big expenses on the horizon are a plus, too.
Still, there are some important considerations everyone should know before buying new construction in Silicon Valley.
When you walk onto a new construction site and are greeted by the salesperson, remember, they aren’t working for you. They work for the builder, which means they’re trying to sell homes for the highest possible price. In order to protect your best interests, be sure to bring your agent with you on your first visit to any new construction site. Many sites have a policy that restricts buyer representation unless your agent is present from the initial meeting.
Because established city centers tend to be filled with older developments, buying a newly built home can limit neighborhood choices and add to commute time. Keep your lifestyle and future happiness in mind by selecting a new community with a reasonable commute and nearby amenities and entertainment options that add value to your life.
Before you do any buying, do some research on the builder. Not all builders are the same. View their portfolios, drive by neighborhoods or homes they’ve built in the past, and read reviews from previous clients.
It’s also important to make sure you understand which features are standard and which features require additional costs. More often than not, model homes are stunning with all of the best available options on display. The granite countertops and crown molding that caught your eye may not be included. If the features you love come at a price, don’t be discouraged. The experienced agent you brought with you to the initial meeting may just be able to negotiate some add-ons for you.
While negotiating price with a builder is unlikely, there is room for creativity. A builder may being willing to pay closing costs or add some upgrades and additional features, but you won’t know unless you ask.
Always hire your own private home inspector to take a thorough look at the property. Just because it’s new, doesn’t mean it is perfect. Even if the property is up to code and the builder provides reports of their own, having the home properly inspected by a neutral party up front can save a lot in the way of time, money, and headaches down the line.
Builders may provide unsolicited structural or craftsmanship warranties, but there may be others offered for appliances, HVAC, and more. Make sure you know what is available to you so that you can make informed decisions about the kinds of coverage you’ll need.
Talk is cheap. It’s easy for a builder to say they can add an upgrade or promise a move-in date, but until it’s in writing, it’s just talk. Before you sign or agree to anything, make sure all stipulations, upgrades, and dates are spelled out in the written contract.
If you’re thinking of buying a new home in Silicon Valley, let us know before you visit any sites. We will help you explore and compare the area, features, amenities, add-ons, and growth potential of any homes you’re considering, always with your best interest at heart.
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