What to know as a new construction home buyer
New Home Builders account for agent commissions in their pricing strategy and will not reduce the price of the home if a real estate agent is not being used. Instead of offering discounts for bypassing a real estate professional, builders retain any would-be commission as extra profit. The smartest thing that you can do when purchasing a new construction home is to work with a skilled Realtor. If you choose a good Realtor, you’ll have someone to help guide and champion your interest throughout the process of having your new home built. By choosing to work with The Modern Home Miami, you’ll not only gain a dedicated advocate and advisor but you’ll also benefit from a generous rebate - 10% of the commission we receive from the builder - to assist with your purchase!
Insider Tip: Most new home builders provide access to their own mortgage lenders who come with perks like reduced interest rates or closing cost credits. Leveraging these in-house lenders, coupled with our commission rebate, enables astute buyers to benefit from both lower rates and significant closing cost assistance, at no extra expense, which can save new construction home buyers thousands.
IMPORTANT TO NOTE: In order to use a Realtor and secure the home buyer rebate, you want to contact The Modern Home Miami BEFORE you visit a builder’s sales office in person.
"Florida building codes are considered the strongest among Atlantic and Gulf Coast states."
The Benefits of New Construction
Consider the potential costs of updating a resale home versus the long-term value of a new construction home, as both can vary widely depending on factors such as the home's location, the quality of materials chosen, and the size and age of the property.
Here some potential costs to consider:
Structural Repairs
- Foundation repair
- Roof replacement or repair
- Plumbing or electrical system upgrades
- Window or door replacements
Modern construction standards
New homes are built to meet the latest building codes and safety standards, ensuring better structural integrity, energy efficiency, and weather resistance.
Cosmetic Improvements
- Interior painting
- Flooring replacement (e.g., hardwood, carpet, tile)
- Kitchen remodeling (e.g., cabinets, countertops, appliances)
- Bathroom updates (e.g., fixtures, tiles, vanities)
- Lighting upgrades
Customization and layout
You can pick and choose many options when buying a new build. New homes can be designed to meet current lifestyle preferences, including open floor plans and adaptable spaces, improving the overall structural flow and functionality of the home.Some builders may even allow for dozens of ways to personalize each feature of the home.
Energy Efficiency Enhancements
- Insulation improvement
- Installation of energy-efficient windows
- HVAC system upgrade or replacement
- Solar panel installation
Energy efficiency is integrated
New homes feature advanced insulation, energy-efficient windows, and modern HVAC systems, saving on utility costs.
Exterior Updates
- Siding repair or replacement
- Landscaping and yard work
- Driveway resurfacing or replacement
- Exterior painting
Improved materials
New construction utilizes cutting-edge building materials that are more durable, sustainable, and less prone to issues like mold, rot, or pest infestations.
Permits and Inspections
- Building permits for major renovations
- Inspection fees to ensure compliance with local codes
- Environmental assessments (e.g., asbestos or lead paint removal)
Taken care of by builder, plus a clean title, so no worries down the road.
Labor Costs
- Hiring contractors, electricians, plumbers, and other skilled workers
- Project management fees if using a general contractor
- Potential overtime costs for expedited work
Included in new home payment
Unexpected Expenses
- Discovering hidden issues (e.g., mold, termites)
- Unforeseen repairs needed after starting the renovation
- Cost overruns due to material price fluctuations
Warranties
Many new homes come with builder warranties that cover structural components such as the foundation, framing, and roofing, providing peace of mind against unexpected repairs.
Temporary Living Expenses
- Renting another home or staying in a hotel during major renovations
- Storage fees for furniture and belongings during the update process
Move-In immediately or at building completion
Appliances and Fixtures
- Replacing outdated or non-functional appliances
- Upgrading fixtures like faucets, showerheads, and lighting
Technological integration
New homes are built with modern technology in mind, from smart home systems and appliances to more advanced wiring, allowing for easier upgrades in the future.
Design and Planning
- Hiring an interior designer or architect
- Purchasing plans or blueprints for major renovations
Choose a new build by architect or design of your choice, and customize to your satisfaction.
Contact us about one of our listings today.
Have questions about new construction?
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