Buying a new home
It’s exciting. Not only do you get to pick out what your home will look like (if you purchase it early enough in the construction process), but you also get to pick out all of the finishes you would like. Granite, stainless steel, travertine, marble, cabinet style, bamboo or wood floors, etc etc etc…. LOTS of fun decisions to make when you are planning your new home!
5 Tips for You
As you are making all of the decisions about what you want to go into your new home in Gainesville FL, here are some other things that you may want to consider before signing on the dotted line:
1. Which schools is your new home zoned for?
You may not have kids, so maybe this doesn’t seem like it would be a big deal. However, you are not just buying your new home in Gainesville for yourself…you are also buying it for the family who will eventually buy it from you. Different schools are more desirable than others, and that affects resale values.
If you don’t know which schools your new home will be zoned for, contact the Alachua County School District Zoning Office at 352-955-7700 to find out. School zoning maps are here, if you just want to type in your address: http://www.schoolsiteonline.com/schoolsitelocator/?districtCode=58364
Some Gainesville builders require leaving a percentage of money up front with them so they can get started building your home, and others will let you put this down payment in an escrow account somewhere until closing. You should know how your money is going to be handled and what the risks are.
3) Who is your real estate agent?
If you answered “I don’t need one, I’m working with the builder’s agent”…..BZZT! Bad answer!
Even when you are purchasing a new home you should have your own real estate agent representing your own interests so that you can get the best deal possible on your home. It’s also really nice to have an agent there to give you opinions on upgrades etc. who is protecting your interests and your pocketbook.
4) How close to “build out” is the new home community where your home is being built?
OK, THIS one comes from personal experience….and not a very good one at that. When you are buying a new home in a neighborhood that is not even close to being finished, ask yourself this question:
“When it’s time to sell my home, who am I going to be competing against?”
Your neighbors who are also trying to sell their homes, and the builders who are still building in the development
Why is this a big deal?
Well, think about it….how different is your home? Will your new home stand out in any meaningful way from the home that will be for sale next door to yours? Or down the street? Or around the block? What will entice buyers to purchase YOUR home over the others that could be available for sale at the same time?
When it comes to competing against builders in the current market, that gets even more dicey….because if builders are still putting up new homes when you are trying to sell yours, they will be able to offer a LOT more incentives to homebuyers than you can….things like awesome financing packages, or free landscaping, or upgraded features in house like granite/stainless steel/new feature of the day, etc….thrown in for the same price, or pretty darn close, that you are selling your now “old” home for (even though it may only be 2 or 3 years old).
When you are competing against builders, pretty much the only thing you are left to compete against them with is price.
5) How “brand-new” is the new community?
Has the builder just broken ground on the development? Are there just a few homes up, with many more promised homes to follow? How about amenities? Are the pool/playground/basketball courts/tennis courts/etc. that the builder has promised new residents already built?
Here’s why I’m asking:
I’m not trying to be a buzz-kill here!
Buying a home is an investment in your future, and these are just some things you should be considering before you ultimately make one of the biggest financial decisions of your life.
Ready – Set – Go
We’d love to walk you through this whole process. Contact us to get started