The Process Of Using New Construction Real Estate

Can't seem to find a home that you want to purchase? That's because it may not be built yet. Many people are paying to have homes constructed so that they have all the features they want in a home. Here is what you need to know about the process.

Contract Signing

The process starts with selecting the plan that you want to use for your new home. There will be many different plans to pick from, many of which can be modified to meet your needs. The basic plan that you pick will give you a general idea of how much the home will cost, which will help when trying to secure your construction loan for a specific amount of money. When you have the funding secured, you can sign the contract and move forward with the construction.

Design Decisions

Once you have a blueprint and a signed contract, you can start making decisions on the exterior. This includes the use of brick or siding and what style of material you want to use. With there being many colors available, the main color of the home will help guide other design decisions. 

You'll then move on to interior decisions. Things like what type of flooring material you want to use, the colors of the walls, the style of moldings, and all the other finishing touches. Keep in mind that it is common to pay for these design decision upgrades early in the process to ensure that homeowners stay within their budget and can afford it.

Construction

The construction process will then begin, with framing the home based on the initial design plan. You'll also be given a closing date on your home based on all of the work that needs to be done to finish the house. The construction team will do their best to stick to this deadline but will let you know of potential delays that could push your closing date further into the future. 

Inspection

There will be inspections throughout the construction process, which can delay your closing date if things are found to be done incorrectly. Many aspects of electrical and plumbing are looked at before walls are closed up with drywall; so thankfully, they are found early on in the process. There will also be a final walkthrough that needs to be done before you can move into the home. 

Work with a realtor in your area if you need help with navigating the world of new construction real estate.