There’s always a lot of debate about whether you should buy a pre-owned house or a new one. Depending on whom you’re asking, you’ll get different answers. However, recent studies from the US and UK show that the number of people who want to buy new houses is on the rise. There are several reasons for this increase. Firstly, a new house allows customization both before and during construction. Moreover, it’s more likely that a new house will be built with newer technology and more resistant materials. If you’re looking to make a purchase, here are 5 things you should know about buying a house.
Don’t Rush To Purchase A Property In An Unfinished Development
The real estate market is extremely dynamic. Prices can rise or fall depending on various factors. Finding a cheaper house in a development that’s still under construction may seem like a great idea at first, but it could be an uninspired purchase in the long run. There are plenty of housing developments that offer various discounts and bonuses for people who are among the first buyers. However, given the current state of the economy, you might find yourself with a brand new house sitting between ten construction lots that will never be finished.
Know Your Neighborhood
Before making a purchase, assess the neighborhood. If it’s a new development that’s still under construction, try to picture it when it’s finished. Will you like living there, or will the surrounding houses block your view? You can’t lock yourself indoors and never go outside. As much as you can, try to know your future neighbors as well. If they’re always partying and the noise levels are unacceptable, you might want to keep searching for your dream home. Everything has to be perfect, or as close to perfect as possible. After all, the house you’re buying will become your first home.
Don’t Be Fooled By The Model
In most cases, the 2D or 3D model of your home will include furniture and decorations. However, some designers and developers use certain techniques that are meant to portray a larger, more spacious home. Some of these tricks include the use of smaller-scale furniture, such as double-sized mattresses instead of queen or king-sized ones. If you haven’t designed your home from scratch, keep an eye out for these tricks, as they might convince you to make a purchase that won’t satisfy your needs.
Know What You’re Getting For Your Money
Similar to buying a new car, houses are presented with the best possible furnishings. However, there might be differences between what you’re being shown and what you’re getting for your money. Ask about everything that’s included in the base price and what’s included in possible upgrade packages. Many of the newer furnishings may prove to be more expensive that you were expecting. Knowing all the details from the start will help you decide whether or not to make the purchase.
Sign A Completion Clause
Completion clauses come in various forms and can bring a lot of benefits. When you’re purchasing a new house, you’re directly dependant of the builder’s timeline. Although each house has a well-defined timeline, there are numerous factors that can postpone the completion date. In order to avoid extra costs, a completion clause can help you get your money back.
