There are some critical questions you should ask a builder and a few points you should consider before buying a brand-new home:
- How long has the builder been building in the community? If you’re building at the early stages of the community, understand that you may be setting the precedent for the prices that are to come somewhere down the line. If you’re building at the end of a community, know that most builders are looking to close out their community which can offer an opportunity to those who are looking to get a better deal on a property.
- How long has the sales manager or the building superintendent been on site? You shouldn’t disqualify them just because they’re new or have just started. What that does tell you, however, is that there may be some kinks to work out that they haven’t had the opportunity to address. People who have been on site and built 50 or more homes and sales managers who have been through as many sales tend to be more seasoned. The process tends to be a little easier to navigate with these people, and you won’t have as many hiccups.
- When is the best time to purchase a property from a new home builder? The best times are at the end of the fiscal year and at the end of the actual calendar year. Why? Most builders are publicly-traded companies, so the numbers they report to their stockholders are extremely important. For that reason, they’re always looking to get homes under contract and sold before those pivotal points of the year.
- Talk to the neighbors. Ask them about their experience—what the builder did well and what the builder could have improved upon. If you start to hear the same issues over and over again, you may have a problem, but if you hear over and over that the builder is wonderful to work with, that’s the best testimony you can get.
We work with a lot of clients who bought new homes in Northern Virginia, so if you have any questions about buying a new build home, we’d be happy to answer them!