Portsmouth New Hampshire home buyers - are thinking
about buying a new construction home? Good for you for being
able to make that decision!
This really is a terrific time to be in the market as there are choices,
there are great lower interest rates, and you actually have the time to think
and make the best decisions for you and your family.
If you are in the market and you’re looking at new construction homes or are building a home in the NH Maine Seacoast areas, here are some tips to help make that
experience a good one for you:
- Find yourself an experienced agent to represent you and your best
interests - so many decisions are part of the process in new
construction that you really do need someone to help guide you with
negotiations, choices, research, etc. Your agent will work FOR you, and
will be with you to help with these very important decisions that come up
throughout the process.
- Work with the mortgage company the builder and/or his agent have
worked out financing programs with - many times the programs that the
builder and his listing agent talk about are better than if you looked
elsewhere. That lender(s) has put together loan packages based on that company
doing all, or most of, the loans with that builder or in that development, and
because of that, the rates offered may be lower, the closing costs may be lower,
or any one of a number of other concessions they’ve worked out to be the lender
of choice. Another important factor in using that lender is that they are
already familiar with the project and can oftentimes make the process smoother
because of that. This is not to say that another lender might not match some of
what that lender of choice has to offer, so you’re always welcome to keep your
options open, but my experience has been that the lender the builder and/or
listing agent have worked with offer very competitive financing
packages.
- Choose your lot carefully, if you’re buying in a new
development- f you get into a development early, you have more choices
for sites for your new home. Take into consideration how you live (lots of
outside living, kids, pets, etc.) and you also want to keep in mind resale
factors as well. Even if you plan to spend the rest of your life in that house,
you still want to keep resale appeal in the back of your mind.
- Make your extras and upgrades choices very carefully -
again, it’s just as important here, and even more so, to keep resale in mind
when deciding what extras and upgrades you want and are willing to pay for.
Your kitchens and baths will reward you very nicely with carefully made
decisions in these rooms. Your choice of flooring can make a big difference as
well.
- Work with the vendors the builder has already lined up, if at all
possible - if your builder recommends certain vendors for flooring,
lighting, appliances, etc., try to work with them if they have the products you
want for your new home. The reason the builder recommends them is because he
knows of their reliability and they know each other’s time line and when things
need to be done and how each other works. Many times, when a buyer goes to an
outside vendor, problems arise with deliveries, time lines, etc. that could very
well have been avoided had the buyer gone to the recommended vendors.
- Take time and care with your purchase agreement - with a
knowledgeable and experienced agent representing you, you’ll have all the i’s
dotted and the t’s crossed. You want everything spelled out in this contract,
including the extras and upgrades and how/when those will be paid for or
included in the purchase price. Another part of your contract that you won’t
want to overlook is the inspection clause. Most buyers, and even a lot of
agents, think that because you’re buying new construction that you don’t need a
home inspection. A good builder should have no qualms about allowing you to
have an inspection done. A professional inspector will pick up on things that a
walk-through won’t show. You’re spending a lot of money, and likely are
planning to be in your new home for a long time to come - make sure you’re
getting what you’re paying for by having your inspections done.
Portsmouth New Hampshire real estate offers so
many options in homes and condos. If you’re considering a move to this area,
I’d welcome the opportunity to talk to you about your move and purchase of a new
home here in the Seacoast areas of NH and southern Maine.
Related Articles of Interest for Buying Portsmouth NH Real
Estate:
Ann Cummings, New Hampshire REALTOR
Broker - NH and
Maine
RE/MAX Coast to Coast
Portsmouth NH
ann@anncummings.com
888-349-5678 x
3839
Servicing the
Coastal Areas of NH & Southern Maine 
http://www.newhampshiremainerealestate.com/001C5A
