Brand-new construction homes in master-planned and active adult communities are in great demand. Fortunately for those seeking these properties in Delaware, there are several communities to choose from, giving you the chance to build your dream lower-maintenance home decked out with innovative tech features. Below are the steps you can expect when going through a new construction purchase.
Get pre-approved
As a prospective home buyer, the first thing you’ll want to do is to secure a pre-approval from at least one lender. Knowing how much a lender is willing to offer you based on your financial situation is key to purchasing a home, new construction or not. A lender will look at your credit history, employment status, income, assets, and tax returns when determining the type of mortgage you qualify for. Once you’ve received your preapproval letter, you will have various lending options. Shop around, and you’re bound to find a suitable option.
Decide which type of new construction home you want
The beauty of purchasing new construction is having many options. Whether you opt for a move-in ready build or design a custom-built house, your options are vast. The three major categories of new constructions include:
- Custom homes give you the chance to be part of nearly every aspect of planning and construction. You will work closely with the builder and contractors to tailor your home to your preferences.
- Semi-custom homes are typically found in higher-end neighborhoods owned by developers. You’ll have some say on your home's look, with more limited choices than a complete custom build.
- Spec of production homes are pre-built. This option is excellent for those who are less picky and don’t have the time to help design their home. You’ll be able to choose some elements of your house, such as paint colors or add-ons.
Find a real estate agent
Working with an experienced real estate agent when buying a home is best. They will be your closest confidant and advocate on your behalf, ensuring you get the best bang for your buck and have an optimal real estate experience. When it comes to Delaware real estate agents, you’d be hard-pressed to find a better choice than Michael Kennedy of the Move to DE Team. Working with Michael and his esteemed team ensures your real estate purchase is treated as more than a transaction — you’re guaranteed exceptional and personalized service, no matter your home purchasing goals.
Research builders and communities
The Move to DE Team’s website offers plenty of information on Delaware's new construction communities, whether you want a home in Delaware Beaches, Northern Delaware, or Central Delaware. Their website gives you insider access to different building companies to find the perfect fit for you and your family.
Know your timeline
Your timeline will significantly depend on the type of new construction you desire. The more customized your home is, the more wiggle room your timeline requires. Work with your builder, real estate agent, and lender to determine how to manage your time efficiently.
Review your options and negotiate a price
Before settling on a final sale price, you’ll need to review your options. If you’ve opted for a custom or semi-custom home, there will be plenty of interior and exterior elements to consider, from roof and siding types to the kitchen size and design. These details and potential upgrades will affect the final price, so consult with your builder and real estate agent to agree on amenities and a sale price that works for you.
Schedule inspections
While the builder will conduct inspections throughout the building process, it’s critical that you hire an independent inspector to ensure everything is built as promised, safe, and working correctly.