Everything buyers need to know about new builds

Buying a newly constructed home involves managing a big project
  • Buying a new home is not a slam dunk; there is a process to manage and a myriad of details to oversee. It is important for a buyer to understand both their and the builder's obligations in the process.

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When it comes to house hunting, buying a brand new home often seems like a much simpler route to take. There is nothing like moving into something that has never been lived in before. A buyer doesn’t have to remodel, repair or properly redo what the prior owners may not have done correctly in the first place. However, buying a new home does not mean that everything is always as it should be. Here are eight things buyers need to watch out for with new builds: Contracts A builder contract is a contract. Period. This typically means there are no changes that can be made whatsoever, and yes, these contracts are most often totally in favor of the builder. Buyer's should make sure they read this document very carefully and go through every paragraph with a fine-toothed comb. They should consult an attorney to walk them through the various provisions so they understand their obligations as well as potential risks. Items a buyer should pay particularly close attention to includ...