If you want to build a new home instead of buying a home, you need to do your research and get ready for a fun and detailed process. Building a new home requires work, but the reward is that you walk away with exactly what you want in the home.
1. Find a Lender
If you are building a new home, you will still need to shop for a lender. First, you need to find a mortgage lender who is willing to work with you throughout the home building process. You will want to contact at least five different lenders and compare the rates that they offer you.
2. Hire a Real Estate Agent
Second, you need to hire a real estate agent. The builder will pay the agent's commission, so you don't have to worry about actually paying the real estate agent out of your own pocket. You want to find an agent who is transparent and ready to get real with you. You want a real estate agent who takes the time to fully grasp what you want and need from a builder.
You can even use your agent to find the builder you want to work with. A real estate agent with experience with new homes can help you find a builder that will meet your needs.
An agent will help you negotiate the price of building the home once you find a builder you want to work with. With building a home, the price may often not have that much flexibility, but the builder may offer you upgrades, which a skilled real estate agent will know how to negotiate for you.
3. Research the Builder
Third, when you find a builder, you want to work with, spend some time researching them. Most builders are busy, so they should have other projects in the area that they have built in the last few years that you can check out. Drive-by and see what some of their past jobs looked like and see if they have client references. Look for online reviews and testimonials. Find out if the builder has ever been covered in the news for their work. You are going to want to find a builder whose style you like. Remember, it is okay not to like a builder's style, even if they have excellent references. The key is to find a builder that you like and want to work with.
Always Get Everything in Writing
With a new home, it is important to always get everything in writing. It doesn't matter how well you feel like you get along with the builder; if you agree to anything, make sure that your real estate agent gets that information in writing. Not getting things in writing, even simple changes to the process, can cost you.
When it comes to building a new home, you need a real estate agent to help you with negotiations with the builder. In addition, you need to put time into researching different builders in your area to find one's style that you like and always get everything you agree to in writing. Find a lender that works on financing new home builds.
For more information on real estate, contact a business in West Valley City, UT.