Before you get too fond of anything, it is vital that you research the builder’s reputation. The best way to do this: take a look at other projects the builder has done and talk to the residents there. It will also be a great way for you to size up the homes and sneak a peek at what your future development could look like once it is completed. Beyond that, however, it is a good idea to look for anything on public record about the builder, including lawsuits. Check social media and local listservs to see if anything suspicious comes up, and remember that a fast search with the Better Business Bureau could turn up invaluable information.

Most builders will have their own team, which means they have their own preferred real estate agents and mortgage brokers, or lenders. While having a conversation with their preferred real estate and mortgage representatives is a courteous gesture, it is always important to bear in mind at all times that they are working for the builder, and not for you.
This means they will work to get the best deal for the developer (and for themselves) without considering your situation. The builder’s sales agent often works for less than commission and receives a salary and incentives to sell quickly, thus, turnover is a very important part of their livelihood. The builder’s lender is also a potential pitfall for similar reasons and might not give you the best deal. The best way to remedy this: hear them out, don’t sign anything and then hire your own team so that everyone can work together. Another pro tip is to shop around for your team and get one or two opinions and quotes, especially when it comes to your mortgage.

There are typically three options for buying a newly-constructed home: you can buy “on spec,” meaning the home is completed; you can buy a semi-custom home, which is completed for the most part but has customizable amenities, or you can opt to go the fully custom route, where you have a say in everything from the ground up.

In order to protect yourself from unforeseen expenses, it is important to ask the builder what comes standard with the purchase of the home and what will cost you extra when you are buying new construction. Once you get a verbalized list, make sure to also get it in writing. A model home with the works is sure to dazzle you but bring you back to earth if you discover that your budget excludes the hardwood floors, granite countertops and high ceilings you thought came with the home. A clear picture at the outset of what you are buying will thwart any confusion.

Inspections are typically done by a general contractor or home inspector. Once they sign on to do the home inspection, they will look over the construction from top to bottom, checking all of its major systems. This includes the roof, plumbing, heating and electrical systems. In addition, the inspection will include a test of the foundation and assessment of whether or not there are unaccounted for slopes in amenities like a patio, and to ensure the roof drainage system is up to the task. Inspections can take up to three hours and typically cost anywhere from $200-$500 on average. Cost is also impacted by the home’s location, size, age, and type.

Warranties are also something you will want to ensure you have a clear picture about before you sign on the dotted line. One common misconception is that the home is completely covered by the warranty, so if anything goes wrong, you can simply get it fixed or replaced courtesy of the warranty. In fact, warranties offer limited coverage of the work and materials. Materials could include the home’s HVAC system, plumbing, and electric. Warranties usually cover these items anywhere from one to ten years. To be sure about what is covered and what isn’t, get the specifics alongside the definitions of limitations and damages in writing. If you want to take it a step further, get the builder’s warranty to cover defects in craftsmanship and get a warranty that is backed by insurance.

Once you are satisfied with the final construction and it passes inspection, closing on the home is the next proper step. The dream team you have assembled prior to this moment will come in handy once again. You will need to call on your attorney, lender, and broker to come to the table with you and go over the specifics of your agreement. You are also well advised to have your inspector go over the property one final time before closing to make sure anything that needed attention or service was handled. Anything that wasn’t taken care of will need to be addressed, and you will want to make sure the documents and numbers line up with your understanding of the agreement. Finally, you can take a deep breath and shop for movers. Your new home awaits.

About Empire Appraisal Group, Inc.

Establish in 2005, Empire Appraisal Group, Inc., is Broward County’s leading residential appraisal company as a result of their accurate and reliable appraisals, excellent customer service, and quick turn times.  When working with an appraiser, integrity and professionalism are essential, and Empire Appraisal Group has a well-established reputation for providing the best appraisal experience.  Daniel Lindeman, the Chief Appraiser, is considered one of the top property appraisers in Florida, with nearly 15 years of expertise and 8,000+ appraisals to his credit.

We ‘specialize’ in helping people who need appraisals for estate purposes, divorce, bankruptcy, FSBO’s and more.

We also work closely with realtors to help establish listing prices, these pre-listing appraisals ensures sellers get top dollar for their home.

In addition, to homes of all shapes and sizes, we also appraise condos, multifamily homes, boat docks, land, as well as specialty properties. No job is too big or too small, from manufactured homes to mansions.

Call Empire Appraisal Group directly with any questions concerning your real estate values at 561-441-9298.  Also, check out our ‘Reviews’ page and see what others are saying about Daniel Lindeman and Empire Appraisal Group, Inc.

We provide residential appraisal services to all cities in Broward County:  Parkland, Coral Springs, Coconut Creek, Dania Beach, Cooper City, Davie, Deerfield Beach, Fort Lauderdale, Sunrise, Hallandale Beach, Hillsboro Beach, Hollywood, Lauderdale by the Sea, Lauderdale Lakes, Lauderhill, Lighthouse Point, Margate, Miramar, North Lauderdale, Oakland Park, Pembroke Pines, Plantation, Pompano Beach, Sea Ranch Lakes, Tamarac, Weston, Wilton Manors.