Colorado Springs, nestled at the base of Pikes Peak, is a city brimming with natural beauty and a thriving residential construction market. We've put together some invaluable tips and suggestions to help you navigate the new home purchase process and make informed decisions when buying a new construction home.
Working with the right Real Estate Agent:
You may think that because Builders have their own sales team you don’t need a real estate agent to represent you. It is best to have an agent working on your behalf who understands the new construction process. Walston Group Real Estate has over 25 years of experience in new home construction sales. We understand the ins-and-outs of working with builders and can help guide you through the (sometimes) complicated venture of buying a new home.
Find the Right Builder:
Choosing a reputable builder is the first crucial step in your homebuying journey. Look for builders with a strong track record, excellent customer reviews, and a history of quality construction. Visit model homes and communities built by different builders to get a feel for their work. In Colorado Springs, builders must be licensed and registered. The Regional Building Department website is usually a reliable resource for checking their licensing and insurance status.
Understand the Warranty:
Newly constructed homes come with warranties, these can vary per builder in terms of coverage and duration. Make sure you fully comprehend the warranty terms, including what is covered and for how long. This will give you peace of mind if any construction issues arise.
Set Your Budget:
Before you begin your home search, establish your budget. Consider not just the purchase price but also the cost of any upgrades that you may want to put in the home. Don’t forget ongoing costs like property taxes, homeowner's association fees, and utilities. Getting pre-approved for a mortgage is a wise step to determine your financial limits. Some builders also offer incentives for using their preferred lenders.
Understand the Timeline:
New home construction often takes longer than expected due to various factors like weather, material shortages, or availability of skilled tradesman. Communicate with the builder to understand what the realistic expectations are for the completion date of your new home.
Prioritize Home Inspections:
Don't assume that new construction is flawless. Hire a professional home inspector to thoroughly evaluate the property before closing the deal. This helps you identify any potential issues the builder needs to address.
Research the Homeowner's Association:
Many new communities have homeowner's associations or metropolitan districts. It's vital to understand their rules, regulations, and fees. Associations and Metro Districts can significantly impact your decision on where to buy, so make sure you are fully informed.
Embrace Energy Efficiency:
Colorado Springs' climate can be challenging, so investing in energy-efficient features is a wise choice. Talk to the builder about insulation, windows, high-efficiency HVAC systems, and what they offer to reduce long-term energy costs and improve comfort.
Considering these tips and suggestions can help you make an informed decision, navigate the new home purchase process with ease, and enjoy your new home for years to come. Contact Walston Group Real Estate for more information!