Buying a new construction home is like diving into a world of possibilities and dreams, but if you don't know the possible pitfalls, it could mean a lot of heartache.
But we're here to help you navigate this exciting yet intricate journey. So, what do you need to watch out for when stepping into the realm of new builds? Let’s break it down.
Don’t hop into a deal without vetting the builder. Not all builders are cut from the same cloth. Take a moment to Google, read reviews, chat with previous buyers, and snoop around for any red flags like legal disputes or complaints.
A builder with a rock-solid rep is your ticket to a safer investment.
Builders might not budge on the price, but they’re wizards when it comes to incentives. Think mortgage rate buy-downs or rate locks.
Picture this: you’re in a lease about to expire or selling your current place, and your new home is still a blueprint. Yikes! Always pad the timeline for potential delays—bad weather, permit hiccups, or failed inspections can mess things up.
Have a backup plan to save yourself from moving chaos.
Don’t expect to choose every doorknob or layout unless it’s explicitly offered. Plus, upgrades are tempting, but they’re not freebies! Plan your budget wisely and stick to it. Fancy outdoor kitchens and bathroom saunas might make your heart flutter, but they’ll also make your wallet lighter.
The whole community matters. Ask about the bigger picture—schools, stores, healthcare nearby. Knowing when these services pop up is crucial. You don’t want to move into your dream house only to realize the neighborhood's still a construction site.
That purchase agreement is no joke. Read, understand, and if something’s fishy, don’t sign. Having an experienced real estate agent by your side can be a game-changer.
Yes, even for new-construction homes. An inspector can catch sneaky issues invisible to the untrained eye, saving you headaches down the road.
But here’s the catch: know what it covers! Different builders, different time frames. Educate yourself before waving that warranty in the air.
Buying new construction is a thrilling ride, but it's a land of surprises. Navigate wisely, and you’ll turn that dream into a solid reality!
This licensee is performing acts for which a real estate and mortgage license or consumer loan license is required. C2 Financial Corporation is licensed by the California Bureau of Real Estate, Broker # 01821025; Washington Office Department of Financial Institutions, DFI# MB-135622; NMLS# 135622 Loan approval is not guaranteed and is subject to lender review of information. All loan approvals are conditional and all conditions must be met by borrower. Loan is only approved when lender has issued approval in writing and is subject to the Lender conditions. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender. The services referred to herein are not available to persons located outside the state of California and Washington.
As a broker, C2 Financial Corporation is NOT approved by the FHA or HUD, but C2 Financial Corporation is allowed to originate FHA loans based on their relationships with FHA approved lenders.
Corporate Website:
www.c2financialcorp.com
NMLS Website:
www.nmlsconsumeraccess.org
304 Vista Del Mar, Suite E Redondo Beach, CA 90277
Office Phone: (310) 890-6459
Michael Mardesich Broker (310) 890-6459 cell mike.mardesich@gmail.com BRE#: 01053119 NMLS#: 242591
Frank Kostrencich Senior Loan Officer
(310) 344-8910 Cell fmkost@gmail.com BRE#: 01024274 NMLS#: 238594
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