New Home Guide

Top 10 things to consider when purchasing a New Home

1) Find your own Real Estate Agent to represent YOU – Not the builder.

The Builders Sales Agent represents the builder only. It is important you find a REALTOR that will provide an unbiased opinion when shopping multiple Builders. In the Las Vegas area, Homes.Vegas Real Estate Agents are not affiliated with any specific builder, have your best interest in mind, are experts in all builders, options available, market conditions, new construction inventory, and competitive pricing/builder incentives.

2) When touring New Homes – Take note of what items are considered “Upgrades”.

Sure, those nice tiles are gorgeous, cabinets are tall and spacious, carpet feels like you’re walking on marshmallows, and those kitchen countertops! Be careful, as these items can get pricey, and request a list of ‘A la carte’ upgrade items, as you may not need the special lighting in the upstairs bedrooms…

3) Prepare/budget for items you are responsible for.

Most new construction builds do not offer landscaping options. If you’re contemplating on pool installation vs. traditional landscape, perhaps get a ballpark estimate of what you’re looking for so you are able to apply it to the final closing prices.

4) Learn about all customization options available to you.

• Built on Spec: Home is completely built and can be purchased as is.
• Semi-Custom: The structure is mostly built, but customization options are available.
• Full custom: Full flexibility in decision making.

5) Consider construction timing.

Need to sell your home still? Most builders will not accept contingency addendums to the builders contract, depending on the market. Unlike resales, and if the market is in their favor, builders can choose not to accept to wait for the buyers home to close before purchase, as sometimes there is a wait list for newly built homes (especially recently in the Las Vegas area)

6) Plan on a Home Inspection

Yes! You still need an inspection. As much as we want to trust that all of our builders have their details and ducks in a row, contractors are human, and can make mistakes. Ensure everything is properly installed, piped, and built correctly and to your expectation before signing on the dotted line.

7) Get the scoop on the builders reputation

You can search online, talk to homeowners, read reviews, or ask your real estate agent if they have worked with the builder previously, and what they know of their reputation.

8) Know the warranty coverage.

Typically builders will have a home warranty they can give you however it’s not uncommon for a builder to have a 3rd party involved in a home warranty.

Coverage for new construction real estate varies from builder to builder. You’ll want to ensure you understand what is covered by the builder or other companies that were involved in the building of your new home. Sometimes you can negotiate the warranty in to the deal or add provisions to cover things the warranty may not normally cover.

9) Which lender is better? Yours, or the Builders preferred lender?

10) Get to know the location!

What’s in the works around the area and by the new home community? This is important to know as to plan for the future of the location of your new home and potential resale value. Talk to your Homes.Vegas agent for further details.