Buying a new home is probably the biggest investment a person or family will ever make. It is then understandable that new home buyers are jittery and need to be guided on how to properly go about it. One of the most important professional people to consult with when buying a home is a property inspector. However, there are areas where a property inspector is limited. Below, we take a look at some of the areas where only the prospective new home owner can help him or herself.
Getting sold on the floor plan
Property brokers are smooth and polished. They know what the right things to say to an excited potential home owner. If the prospective owner is not careful, his or her excitement will blind him or her from seeing the cold facts about a building. One of the areas where excitement buys a buyer trouble is the floor plans. A broker will, for example, quote the size of the house at 10,000 square feet. The buyer believes that the home will be this big only for the house to be built and he or she realizes that it is something like 9,400 square feet. This is because the balconies and some out-door space was included in the measurements provided on the floor plan. To avoid this, a potential buyer should always ask what the square footage includes.
The noise and inconvenience of living in a construction area
When a person buys a home in a new building, it is likely that the other apartments have not been fully completed. This is the case unless the buyer is the last entrant into the building. Consequently, the new owner will have to live with noise from construction equipment for several weeks or even months, depending on the scale of the project. For a family with young kids, it can be very especially be inconvenient to move into a building that is unfinished. The noise, debris and construction equipment would make it hard for the kids to sleep well or play outside. To avoid this, the buyer should find out for him or herself when the building will be fully finished before moving in.
Buying at the right time
Like many other markets, real estate has its low and high moments. As a buyer, you will want to get in just at the right moment because the prices will be low. The other way to enter a market when it is low is by keeping a realtor close by. This is because new developers often invite the big realtors to pre-buy homes in their buildings at low prices because the developers need money to continue with the construction. If a prospective buyer can get in at that moment, he or she will pay a significantly lower price than buyers who will come in after the building is completed.
These are but a few of the instances where a prospective buyer has to apply his or her due effort.