A new home construction is different than buying a pre-built home. Depending on which builder you choose, there will be different terms and conditions. It’s important to be prepared for any situation in which you are moving or spending a lot of money.
Your first contact with the builder, and most likely the last, will be with his sales representative. These meetings give you the opportunity to ask any questions about labor and costs before you commit to anything. Make sure to write down all your questions before you go so you don’t forget anything. And don’t be afraid to ask for the answers you need. You don’t want surprises later.
Are you unsure of what questions to ask? These are the 10 questions you should ask before buying a new home construction in Myrtle Beach.
What is the cost of the lot?
Each plan has a base price when you are looking at custom home options. This includes the base cost of the structure as well as the interior and exterior elements (we’ll get into them in a bit). The cost of the land may not be included, so make sure you ask about this if you’re considering buying a custom home.
Ask if premium prices are applicable to certain lots if the lot cost is included. You may find that the base price includes the lot. However, the other lots in the development will have additional costs for features you cannot opt-out of. Ask about the lot cost and whether any premium costs are involved. These will be added to the base price of the house.
What is the time frame for new home construction?
You need to understand what timing you are getting into with a new construction project, especially if you have a house you want to sell or rent. Although the building process can be delayed and it is impossible to predict how long it will take, this guide will give you an idea of what to expect. It is important to ask whether the build time includes the time required to get permits. These can typically take between 30-45 days.
What warranty is included with the house?
It doesn’t necessarily mean that there won’t be problems even though a home is new. Most new homes are covered by one or more warranties. These include a short-term home warranty as well as a long structural warranty. Ask about the warranties and their duration. You can buy your own warranty for your home, but you should expect that the builder will provide coverage at least for the first few years.
What are the standards for finishes?
Is it possible that a base price seems too good to be true? This could be because the home builder expects you to spend a lot on finishes such as flooring and countertops. Ask about the types of finishes that are included. Better yet, have the sales representative go through the model unit and point out which options are standard and which ones are upgradeable. The likelihood is that you won’t meet the design center until after your contract has been signed. This makes it important to know what finishes and appliances are included in the base price of the home.
Is it legal to buy your own appliances and materials?
You wanted butcher block countertops, but your builder didn’t have them. You may be able to buy them and have them installed by the builder. You can also bring your own appliances. Some custom home builders will not allow you to purchase your materials but will allow you to bring your own appliances. You will likely need to purchase appliances on your own. This includes washers, dryers and refrigerators.
Credits will be granted if you bring your own material or appliances.
Let’s suppose that the base price for your new home includes a $200 kitchen sink. But, you want to upgrade and buy a $400 sink. You will get $200 off your purchase price if you don’t use the sink included in the base. Some custom home builders offer credit for upgrades, self-purchased materials and appliances. Others will just require you to pay the original item’s cost. Although credit is a nice extra, they are not always standard. It’s better to not expect that you will get money off your base cost for such purchases. Builders don’t want to lower the base price, but credit is a great option.
Does landscaping count?
Landscape costs can run several thousand dollars depending on how big your yard is. This includes sodding and planting trees and plants. This is a cost that you will need to add to your home purchase. Some custom home builders offer basic landscaping work while others leave you without finished land. This is your responsibility and must be done within a certain time frame, as per the contract. Ask if landscaping is included and, if so what it entails. Also, ask if the warranty covers materials. This will ensure that your grass doesn’t die immediately or suffer from any other problems.
Are there cost escalation clauses in the contract?
Last-minute surprises are a common occurrence in new builds, but you don’t want to be financially responsible if this happens. Cost escalation clauses allow the builder to charge for unexpected costs arising from labor or materials. If lumber prices rise before the builder purchases the materials for flooring or if there is an unexpected delay, you will be responsible for those costs. You don’t want to deal with stress caused by unanticipated expenses.
Even though there isn’t a homeowners association, the builder might still have guidelines about what is allowed on your property. You may be prohibited from installing a shed or fencing in your yard. It is better to ask these questions early so you know what to expect.
Is there a financial incentive to use preferred lenders?
If you get your mortgage through a company they are familiar with, some custom home builders in Myrtle Beach may offer discounts on closing costs. Ask about these financial incentives, but don’t base your decision on them alone. You may still be able to find a better deal with other lenders. However, it’s still a good idea to find out if there are any benefits to working with the preferred mortgage company of the builder.
It’s possible to build your dream house. Be open-minded and have a plan. You’ll be less likely to encounter surprises later on if you ask more questions at the beginning.
As with all home purchases, it is important to have an attorney review your contract. This will ensure that everything is fair and equitable. Although some buyers prefer to meet with a real agent during sales meetings, this is not necessary for new construction buyers. Ask the right questions and you will end up with a gorgeous home that was built especially for you.
Call Dawol Homes now if you are looking for an expert who can help build your dream custom home.
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Dawol Homes
9404 Hwy 17 Bypass,
Murrells Inlet, SC 29576
(843) 294-2859
http://www.dawolhomes.com/
info@dawolhomes.com
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