Buyer's Guide New Homes

START YOUR NEW HOME SEARCH (New Residence to be Built)

Provided by Rate a Home, LLC

www.rateahome.com

a) Provide the chosen Builder and/or your Real-Estate Agent with your Rate a Home “New Home Wish List”.

b) If you have chosen a building plan in advance bring this along to the first meeting with the builder. Many builders have a selection of plans that you could choose from, as well.

c) Rate a Home recommends that you price your new home plans with each builder, using the “New Home-Wish List”, in order to get comparable prices. Also, items to consider adding to the “other information” area on your “Wish List” would be:

Floor covering allowance: This can be determined by getting an estimate from a floor covering company.

Know which building companies provide construction financing. This could make a difference of thousands of dollars, compared to obtaining construction financing on your own.

Regarding your lot choice, determine in advance who will be responsible for permits, water and sewer hook ups, well and septic allowances, etc. (including costs).

Determine what a builder includes in their quote, and have each builder bid your home in the same manner.

It’s important when pricing your new home that you have comparable quality, materials and options from each builder. If you don’t have a comparable bid, it could result in one builder being thousands of dollars less, and simply because the builder didn’t include an item you thought you were getting in their quote. In this case, you as the buyer may be surprised with additional cost during, and/or after, the construction of your new home.

d) Many Builders have land and/or lots in their inventory that may suit your needs. Other options are to research vacant land through a Real-Estate Agent.

e) If you are looking at a “spec” home that a builder has in their inventory, bring along the following:

If you or your Real-Estate Agent subscribe to the “Rate a Home” Property Rating Program, bring along the required amount of “New Home-Rating Sheets” (one for each person rating a residence). Fill this out on your tours for input later into the “Rate a Home-Rating Program”. The program will rate a home, and rank it according to the ratings of each home toured. It automatically averages a combined score of one (or two person’s ratings). And produces a final scoring sheet that determines what homes rated highest in meeting your housing needs, and wants. Review the “Scoring System Definitions”.

Also, use the “New Home - Walk Through Check List” (See samples) to document what each home included (one per residence toured). The “Walk Through Check List” sheets cover everything from style of home, construction quality, interior and exterior colors, and many other detailed items that you may not notice, while touring numerous homes. The check list will help to refresh your memory of each home, after the tours are completed.

If your agent doesn’t subscribe to the “Rate a Home-Rating Program” you as the buyer may do so, for a short term, or monthly fee.

f) Most Builders and/or Real-Estate Agents won’t suggest leaving the children with a babysitter or relative, but when you are meeting with them, “Rate a Home” suggests that just the adults attend. This allows you to concentrate in making the right decisions without being distracted. However the choice is totally up to you.