How To Buy a Brand New Property
When making a property investment, deciding whether to go with a previously owned home or a brand new property can be a difficult decision. While a previously owned home offers the simplicity of a finished product, a new home means you can customise it to suit your needs and lifestyle. Here are a few steps to follow when buying a brand new property.
Consider Your Options
There are plenty of ups and downs when it comes to building your own home, and it’s important to consider all of your options carefully so that you can make the right decision for you. First you need to determine whether you want to buy a brand new home, customise a development home, or design and build your home from scratch.
The first option gives you the luxury of a brand new home without the hassle of overseeing a build, the second gives you a low stress and formulaic build while having the freedom to add and alter to your liking here and there, and the third gives you complete control of the home which includes the responsibility of the design and build.
Considering building a new home?
Do Your Research
Once you have decided which type of new home you would like to buy, it’s important to do your research. Find out as much as you can about the neighbourhood you are considering building in and the builders you are thinking of contracting. If you’re customising an existing design, learn about all the extra upgrades you can make and how much they cost.
Talk to people who have used your builders or who already live in the community or development you want to buy in. Being as informed as you can be makes the difference between a good investment and a poorly thought through mistake.
Do your own research, don’t rely on others to do it for you!
Get a Final Home Inspection
Protect yourself by getting a final home inspection written into the sales contract before the deal is done. Even new homes, if not built correctly, can have flaws and defects that lower the value. A brand new house is a huge investment, so ensure that everything is completely up to scratch so that you aren’t left with a defective home.
It’s also wise to have some sort of warranty protecting you for a set amount of time after you move in. This way if there are any unforeseen issues that are a result of the build, you will be covered.
Whether building from scratch or buying an already built new home, property investment is something you want to be completely confident in before you commit. It is always wise to speak to a professional who can give you inside knowledge and save you headaches along the way. Contact us if you have any questions about property investment or buying a new home.