It's not just the weather that's hot in Texas. Recent research out of Texas A&M shows that Texas leads the nation in new home construction, especially in cities like Austin and Dallas-Fort Worth. New home construction is a great way to increase housing availability and help new arrivals build a life in the Lone Star State.
If you've never looked into new construction homes before, you might be wondering if they're the right choice for you. We've compiled some tips to help you make a solid decision about your next real estate investment. Read on to learn what you need to know before buying a new home!
Off-Plan Sales 101
You might wonder what it means to buy a home "off-plan." This term simply refers to buying a home that either hasn't been built yet or is still under construction. You walk through a model home and look at things like drawings and plans to get a feel for what your future home will feel like.
Off-plan homes typically cost less than established homes, and you don't have to haggle over the price. In many instances, you get to choose the lot you want as well as finishes and add-on features. It's close to a custom build without having to pay custom build prices.
Pre-Purchase Considerations
New construction homes are great, but are they for you?
Many new construction homes come as part of a homeowner's association. You'll have to pay HOA dues and follow their bylaws while living or renting out your home. Make sure you've done your research about the HOA before purchasing your new home.
You should also have a firm grasp of the timeline and costs associated with completion. The builder should offer:
- An estimated completion date
- If that timeline changes if you customize your home
- Information about compensation for building delays
- Updated purchase price information for upgrades
What to Look For in Your New Home
The most important thing is to find a home that meets your needs. Is it big and functional enough for you? Does the HOA allow you to decorate for the holidays? Is it close to where you need to be?
You should also ask the builder about things like:
- The quality of the materials
- The home's energy efficiency
- Whether the builder offers a warranty
Final Steps
Once you get close to moving into your new home, it's important to visit the construction site and look for any issues with the build. This allows the builder to fix them before you move in.
Once you have a firmed-up completion date, you can book your mover and get excited about your new home in Austin!
Are You On the Lookout for New Construction Homes?
When it comes to Texas real estate, new construction homes are hugely popular. Not only do you get a fresh start with all new appliances and materials, but there's no shortage of them available. If this sounds like the right move for you, then it's time to start checking out the abundance of new homes in Austin!
Do you need assistance with your new home search? PMI Heart of Texas has its finger on the pulse of the Austin real estate market, and we go above and beyond to help you find your dream home! Contact us today to get started!
