New Construction Homes: What to Know Before Buying off the Plan

New Construction Homes: What to Know Before Buying off the Plan

Do you want to buy a home but aren't eager to move into an older building that might have faults? In this case, purchasing a brand new house can be a better option.

But what do you need to know about new construction homes before you buy off-plan? Buying a new home is one of the biggest financial commitments you'll make, so it's crucial to ensure you're making the right decision.

Don't worry, by the end of this article, you'll know about the top benefits of purchasing newly built houses. Keep reading to learn more.

Discounted Prices

Price is always a major factor when buying homes, and it can often limit your options. But you may be surprised to learn that you can purchase new construction homes at more affordable prices if you buy off the plan.

This is because the developer is trying to attract buyers, and they may offer excellent bargains to entice you to sign a contract. Even if costs are high when you first ask, there's no harm in checking back in with a developer later, as they may have lowered their asking price.

Construction Timeline

If you have a move-in date in mind, then it's best to check that the construction timeline meets your needs. While you should accept that some minor delays could happen, if you're in a situation where you want to be in your home in time to enjoy the hotter summer months, then waiting until winter might not be ideal.

A developer should be able to give you a timeframe, and you can then plan when you might be able to move into your new home.

Developer's Reputation

It'll give you peace of mind if the developer has a strong reputation in the San Antonio real estate market. You can ask if they have experience in constructing modern home designs, and if you can view their past projects.

It's also important to confirm they use high-quality materials, and that they don't cut corners that could cause problems for your home further down the line.

Contract Terms

The contract is an essential part of real estate investing and buying new construction homes, as it protects both buyers and sellers. This will include aspects such as the payment schedule, when construction should be completed, and penalties that may apply under certain circumstances.

While you might feel comfortable reading and understanding the contract, a legal professional will be able to give expert advice.

PMI Navigate Can Help You Find New Construction Homes

Buying new construction homes off-plan can be a savvy decision and help you grab a bargain. The key is to do your due diligence, determine if the developer has a solid industry reputation, and ensure that you're happy with the contract terms.

At PMI Navigate, we guide you through the property buying process, helping you buy a new construction home without the hassle. As part of a franchise with over two decades of experience, we have the skills and resources to help you find your perfect home.

Start your home-buying journey, and contact PMI Navigate today.