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Last updateFri, 24 May 2019 10am

Tips to consider when buying a newly built property

The best part about buying a property that you can immediately move into is that you do not have to worry about anything. Once you close the deal and the construction is over, you can move all your things into that property and start a new life.

You face several choices though, and it is not always easy deciding which property is worth purchasing. You need to take care before buying a new build property by checking its location, cost and features. These tips will help you.

Look for a quality real estate agent

You want to view as many choices as you can before you decide. If you have a quality real estate agent, he can help provide you with an extensive list of options to choose from. Find someone who best represents your interests and understands what you want in a property.

Learn to negotiate

These homes are usually pricey because they are ready for moving into. It does not mean, however, that you cannot bring the price down. With proper negotiation tactics, it is possible for you to still get the property at a price you can afford. You can ask for a discount on an upgrade or ask the builder to pay the closing costs for you.

Document everything

Do not agree to anything until you read the written contract. It needs to detail everything about the transaction. The agreement must indicate when the construction will be over and how the builder intends to deal with potential issues along the way. If any party fails to hold up their end of the deal, the consequences also need to be clear in the agreement.

Research the builder

You need to be sure about the builder and the quality of their services. It is crucial to have a builder who has a positive reputation in the industry and you can find reviews online to learn more about the builder, or ask for recommendations from friends who have previously bought this type of property.

Include home inspection in the agreement

Before you decide to move into the property and pay the remaining amount, you need to conduct a home inspection since it is crucial that everything passes the standards. If you see shoddy craftsmanship or potential dangers in the construction, you need to notify the builder. You do not want to shoulder the repair costs because of poor construction.

Consider the location and its future

It is easy to feel tempted to choose a location because of its surrounding area. Apart from its access to key places, you might also prefer to build a property there because of the scenic view. However, the scenery could change depending on city plans. Therefore, you need to know if the location is ideal now and if it will remain so several years from now.

It is exciting to buy property, but you need to be sure about your decision. Do not close a deal unless you know it is worth your money.