Buying A Home from a Builder: What Should You Know?

When you are about to buy a new home, you have the choice of purchasing it directly from a builder. However, we often see people getting into problems as they buy houses from builders. Some builders change furnishings or layout, delay closings, and even cancel agreements under certain instances. That’s why you should follow these tips when you are about to buy a home from a builder.

  • Do your background research

The very first thing you need to do is a background research on the property that you are about to buy. You may take a look at other similar projects completed by the builder. Then you can see whether those projects were completed on time or handed over to the customers on time. You can get inputs out of your research and decide whether to work with that builder or not.

  • Check if you can assign the unit before final closing or occupancy

It would usually take several years for a condominium project to complete. A lot of things could change during this time period. This is where you need to check if there is a possibility to assign the unit to yourself at the initial stages. Then you will be able to have a written agreement to your assigned unit, and you will not have to deal with last-minute surprises.

  • Check for additional charges

Last but not least, you will need to inspect for additional charges. These additional charges would usually be mentioned in your agreement. Make sure that you understand what the additional charge is all about before you go ahead and make a payment.

Follow these tips and you can get a hassle-free experience as you buy a home from a builder.

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