If you’re considering buying a new build home on the north shore, there are a lot of factors to consider. New homes are often more expensive than resale homes and you may not get a lot of choice in terms of location, style or features. However, if you’re looking for a new build home with the latest features, amenities and technology, it’s worth considering. This guide will provide you with some questions to ask before buying a new build on the north shore.
The following questions will give you an idea of what to expect from a new builder.
What is the builder’s track record?
You should also ask the builder about their track record. It includes:
- What is the builder’s warranty? Are there any restrictions on it and how long does it last?
- Is there a no-contingency contract that requires you to pay for additional costs if you cancel the contract within a certain period of time after signing it (for example, 30 days)? If so, what will happen if you decide not to proceed with your purchase after signing this type of agreement? Can you get out of paying extra fees or do they keep all deposits paid up until then as punishment for backing out early on their terms?
You should also investigate how long this company has been in business as well as how much new build inventory currently exists on their sales lot.
What kind of warranty comes with the home?
You’ll want to make sure that your new build comes with at least a 10-year structural warranty, which covers all major systems and materials. It is important because it helps protect you from future problems that may arise during construction, such as leaks or faulty electrical wiring.
In addition to a structural warranty, it’s also important for there to be an extended labour warranty–one that includes the replacement of any defective materials or workmanship for up to 20 years after completion of construction (or longer).
Is there a no-contingency contract?
No-contingency contracts are a great way to protect yourself, your money and your interests.
They offer protection from unexpected costs. When you take out a mortgage, the bank will only lend you so much based on their assessment of the value of your home. If they think the value has increased since then and they’re willing to lend more than what was originally agreed upon in order for you to buy another property or do renovations on this one (which happens often), then there could be some hefty fees involved with changing those terms again later down the road–and these fees can be very expensive!
Having no contingencies in place when signing up for one of these loans at first glance appears risky; however, it actually gives us peace of mind knowing exactly how much we need upfront before making any decisions regarding our finances moving forward.”
How long have they been in business?
When looking at builders’ and builders’ reputations, it’s important to ask how long they have been in business. A builder who has been building on the North Shore for 20 years is likely to have more experience than one who has just started up.
You also want to consider how long they have been building homes in your area. If they only started building new builds within the last five years, then their experience may not be as extensive as you would like it to be–especially if you’re looking for custom features or luxury amenities like pools or gourmet kitchens that require additional planning.
How much new build inventory do they have in inventory?
The next question you should ask is how much new build inventory they have in inventory. It is important because it will tell you how many homes are currently being built and ready to move into. If there are only a few options available, then you will be able to choose from the best ones and have less competition for the perfect home.
Conclusion
If you’re looking to buy a new build home on the north shore, it’s important to ask the right questions. You want to make sure that your builder has a good track record and is willing to offer warranties on their work. Make sure they have plenty of inventory in stock so you can see what options are available for your budget and lifestyle needs. If possible, check out some other homes built by this company before making an offer as well!