4 Important Questions Before Buying A New Construction Home In Western New Jersey

If you are looking to purchase a new construction home in Western New Jersey or Eastern Pennsylvania then you are not alone. The number of new home sales is on the rise across the nation.  According to the U.S. Department of Housing and Urban Development, the number of new home sales reached an eight-year high last year.   When buying a new home there are a few important questions you should ask as a buyer.

Are there any Incentives?

Builders may be less likely to negotiate sales price if they are production builders because if they lower the price for you then it sets a precedent for all other buyers in the development to negotiate a lower amount. Using a custom builder tends to provide you with more flexibility.  With that being said, ask your builder if they offer any incentives for choosing to use their preferred title company or lender.

What comes standard?

When touring a builder’s display model know that most of these homes tend to be full of finishes that do not come in the standard home. All these upgrades cost extra and are there to make you want them in your completed home.  To stay within in your budget you may need to choose a new construction without all the bells and whistles. Ask your builder what is standard, and what finishes cost extra.

Is there an HOA?

Many well planned communities come with a homeowners association (HOA). An HOA will come with its own rules and regulations that you will be expected to follow.  If you choose to not follow these rules, many have in place penalties that you will be charged.  Read the covenants thoroughly and determine if they are a right fit for you before purchasing a home in that community.

Does the home come with a warranty?

It is not uncommon for a builder to offer a one-year home warranty on their work.  Before purchasing a new construction home ask the builder if they will be providing a warranty, and if so, what is covered and what is not.

Buying a new construction home can be exciting and the Silva Group would love to help you find the home of your dreams. We will be with you throughout the whole process answering any questions you may have and looking out for your best interest.

The Silva Group is comprised of Philadelphia and New Jersey’s best and brightest in the real estate industry. Our team is more than a bunch of real estate agents packed into an office – we are friends and family members who all have one passion – to provide the very best real estate experience possible to our clients.