In Southwest Florida, new real estate developments are constantly popping up. Undoubtedly, these developments are one of the most popular places to purchase a home, whether you’re a first-time home buyer or a seasoned veteran. After nearly 20 years of experience in real estate and development, we at B-Squared Advertising believe we have absorbed a few of the essentials when it comes to buying new.
Here are some things to consider:
These Things Take Time
Prior to a development beginning construction, sales efforts can begin one to two years prior to anticipated move-in dates. On the bright side, after making the decision to buy and once you’ve made your initial deposit, this time before occupancy gives you some extra breathing room before the next payment is required. Something younger, first-time homebuyers appreciate. If you are not a first-time homebuyer, this period gives you extra time should you need to sell your existing home.
It’s important to note that not all move-in dates are set in stone. Unexpected delays in construction can happen which will ultimately change the construction timeline. The result can leave you sleeping at your parents’ house or bunking with a friend if you don’t plan correctly. Around six months prior to move in, you’ll want to start asking the developer for regular construction updates. This will allow you to plan ahead, whether you’re in a rental and need to negotiate with your landlord or selling your home and need to time the closing of it.
We live in a digital age. Nowadays, almost any information we need is right at our fingertips. When purchasing a new home, especially one in new a development, you will want to utilize all the available information by researching your developer and contractor online. Studying up on who will be building your home can answer several key questions: Is their product a quality product? Are they well-respected? Are they known for finishing on-time? What is their reputation? Construction defects happen, but how do they respond? Looking into how your developer or contractor performs can save you time, money, and headaches.
What You See Is Not Always What You Get
You are in the sales center of a new development you want to move into. You’re looking at the models and artist’s renderings thinking to yourself, “Oh, I can’t wait to move into my new 2-bedroom home with an enormous kitchen.” You see the finished product but your kitchen is not like the kitchen you saw in the model. Why? Renderings and the models you see in sales centers are tools used for marketing a new development’s residences before the product is finished. You’ll absolutely want to double-check what features come with your purchase because not all homes are created equally.
Be specific! Ask what appliances are included with your home, and if the model kitchen is standard for all units. This model has a beautiful walk-in closet; will my home have this feature or is that an additional cost? A model home showcases its best features to the consumer, but it doesn’t guarantee your home will have those same features.
In most cases, buying a new home is going to be the most expensive purchase in a person’s life. For some, the thought of this is very exciting, while others might find this thought to be utterly terrifying. There are many factors that go into building and buying a new home and many unknowns, but with proper planning and a bit of studying beforehand, you can actually look forward to the process of purchasing your new home.