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Should You Buy New Construction?
New construction is appealing for a lot of reasons, but it comes with its own risks and tradeoffs. Here's a quick overview of what buyers should think through before choosing new over existing.
Video coming soon
The key takeaways are below in the meantime.
Written by Bri Bond-Erwin
Key Takeaways
- New construction appeals for the freshness, warranty, and ability to customize, but the process is different from buying resale
- Builder contracts favor the builder. They're not the same as standard purchase agreements and need careful review
- You still need a real estate agent when buying new construction, even if the builder has sales staff on site
- New homes should still be inspected. Construction isn't perfect and an inspector can catch what the builder missed
- Builder incentives can be valuable but are also negotiating tools. Understand what you're actually getting
- Timelines for new builds can stretch, so factor this into your housing plans if you have a firm move-in deadline
Transcript will be available when the video is recorded.
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