Step-by-Step Purchase Process for New Construction Homes
1. Figure Out Your Lifestyle Needs
A Northrop Realty New Home Sales Specialist will help you determine your must-have needs and wants list. This will help us evaluate which communities are best suited for you.
2. Research Neighborhoods And Builders
Northrop Realty will consider your lifestyle needs and determine a list of neighborhoods and builders that would be a good fit for you. We will schedule appointments so you can tour any communities that you are interested in but you can also find some of our featured builders here.
3. Learn What Is Standard And What Is Extra
Once you decide which community you want to purchase in, we will guide you through what is standard and what is an upgraded option. You may want room additions, upgrades like a gourmet kitchen with granite countertops, etc., or you might decide on a few key upgrades to make your home complete. A Northrop Realty agent will help you decide what makes the most sense financially and what will add value to your new home. You can also learn what types of new construction homes are available to help get you started in identifying your preferences.
A construction loan might be right for you when purchasing a new construction home. Most construction loans will offer short-term funds that can help you through the building part of your project (6-12 months). After home construction is complete, these loans convert to a long-term 15 or 30-year-loan. Construction loans are highly specialized and aren’t as readily available as standard mortgages. Please consult our Financing For New Construction Homes page for further details.
Now that you’ve selected your floor plan, options and upgrades, the next step is writing the sales contract. Your agent will be there as a resource for you to negotiate and address any questions or concerns.
6. Home Inspection
You may choose to have your new home inspected. A home inspector will check the interior and exterior of the house to make sure it is well constructed. The inspector will also explain how your new home works. You will receive a written report with their findings plus, suggestions about upkeep and maintenance. If there are any issues that need to be addressed with the builder, your real estate agent is there to negotiate on your behalf.
7. Home Warranty
An important part of your home purchase is your New Home Warranty, provided by the builder. Your agent will take the time to familiarize you with the New Home Warranty and what it covers.
8. Pre-Settlement Walk-Through
You and your agent will attend the pre-settlement walk through to educate you about your new home and make sure that there are no last minute items to address prior to your settlement.
You have found your dream home and now it is time for settlement! Your Real Estate Agent will be there as a resource to guide you while you are signing and to make sure the title work is in proper order. Congratulations on your new home!