Today we continue our discussion on the differences and similarities when purchasing a new construction home. If you missed the first part of this report, you can find it here.
5 Home Features That Excite Buyers
1. Stainless Steel Appliances:
Many buyers like the sleek, powerful appearance of stainless steel kitchen appliances. Part of the attraction may be that a home kitchen with stainless steel appliances suggests the professionalism of a commercial kitchen. The modern look of the appliances themselves can be incorporated into almost any kitchen design (from modern interiors to more traditional styles). A stainless steel finish is not for everyone, however, so keep in mind that the appeal of these contemporary gadgets will not be universal. Another thing to remember is that it may be more financially beneficial to “take” the standard appliances and then upgrade to stainless steel at a later time.
2. Hardwood Floors:
Hardwood floors are sought after by home buyers across all property types and architectural styles. Hardwood flooring has a timeless style and is more durable than other types of flooring. Synthetic wood floors are an option for owners who can't afford hardwood - just know that most potential buyers will know the difference right away, if you are considering your “resale” future. Again, it may be wiser to upgrade to hardwoods at a later time, financing the upgrade cost of hardwoods from the builder may not be the best use of your funds.
3. Quality Fixtures:
Upgrading the smallest details can often go a long ways to improving your home's appeal to buyers. Replacing outdated or lower-quality doorknobs, faucets, light switch/outlet covers, and drawer pulls can be a relatively inexpensive way to make over a bathroom or kitchen. You can also greatly enhance your home's appeal by updating lighting fixtures throughout your house, but keep in mind that higher-end lighting fixtures can get expensive fast. Whenever replacing fixtures, make sure the replacements coordinate with both any remaining fixtures and the interior aesthetic of your home.
4. Surround Sound:
The popularity of larger flat panel and projection screen televisions in recent years has in turn generated greater interest in advanced home audio that compliments near cinema-quality picture. Building a surround sound system into your living/media room can entice potential buyers who may be excited by the idea of a new dimension of home entertainment but disinclined to go through the process of installation and setup. This is one of those items that might be worth the extra expense from the builder, since the wires can be “hidden” inside the walls much easier during construction than later added in.
5. Slab Kitchen Countertops:
Granite countertops get a lot of attention as a must-have finish for any contemporarily designed kitchen, but in reality a number of other slab materials can be used to achieve a similar look at a lower cost. One of the major selling points of granite countertops is how easy they are to care for: the hard, nonporous surface is much easier to clean than a tile counter top with grout lines. Solid Synthetic surfaces (such as Corian), composite (Silestone), limestone, soapstone, marble, quartz and butcher-block slab counters all come with easy care and a more attractive appearance than laminate or tile countertops.
Upgrades to the home itself are features (such as hardwood flooring or high end appliances) that you pay extra for to improve the home based on your tastes. Builders can make a lot of money on upgrades, because they get the parts and labor at favorable rates and generally tack on a large markup.
Make sure you know the base feature list of the model you are purchasing by heart. When the builder offers upgrades, make sure you understand exactly what is being offered by asking questions and taking notes.
Do your own research to compare the cost of the feature plus installation as offered by the builder with what it would cost to have the work done independently after move in. If the builder's version is far and away more expensive, bidding the work out to independent contractors after you move in is probably the smart move. If the costs are similar, however, it may be less stress to have the work completed by the builder in advance.
Many people who purchase new construction fall into the trap of thinking that because the home is newly built, the important step of getting a detailed home inspection is unnecessary. Simply put, new construction does not guarantee sound construction, and skipping a professional inspection can leave you open to future problems that might crop op as a result of building flaws or cut corners. Even homes built by the most scrupulous contractors can have defects that are not obvious to the untrained eye.
Many builders will proved an all-inclusive home warranty as a part of the purchase agreement. This should not dissuade you from getting an impartial inspection: most warranties have a limited lifespan, and many original issues with home construction may not become apparent until many years later.
Builders almost always have a preferred lender (sometimes even an in-house mortgage company), and will typically try to steer you to using this lender to secure the mortgage for your new home. Some builders will even offer deals on the purchase price of the home or free upgraded - contingent upon you using their lender.
Using the builder's lender, especially without first shopping around for mortgages and other sources, is highly problematic. A mortgage provider who has a working relationship with a builder or development is out to make sure they can get you into a loan for the property. What they aren't necessarily doing is making sure you get the best deal. Always shop around for the best possible rate, lowest closing cost and fewest hassles.
Overall, it is still very important to have a professional real estate agent representing you throughout the new home purchase process.
Helping you find your home is our goal
Getting you through the process is our expertise!
Reechia & Keith Powell
Allen Real Estate