Being a part of something new from the very beginning is an enticing prospect. When this involves becoming one of the original homeowners in a new subdivision, the experience can result in years of comfortable enjoyment of the home, as well as the potential for financial rewards, should the property rise in value over the years of your ownership.
If you are considering the purchase of a new home in a new subdivision, here are some tips to help you enjoy the best possible experience.
Select a location that is likely to rise in value
When shopping for a new home in a new subdivision or development, it is important to actively shop for homes that will be most likely to rise in value. In addition to great design, the use of quality materials, and excellent building practices, prospective buyers of this type of real estate should also look at the location of the subdivision and the location of the home within the subdivision.
To ensure that the location of the subdivision is beneficial, buyers - even those who have no children or those with an empty nest - should gather information about the local school system before making their decision. If the school district is one that has great ratings and is in high demand by parents, the home is more likely to rise in value than a comparable home in a less desired school district might.
The location inside the subdivision can also be important, especially if the development includes parks and community use areas. In most cases, choosing a lot that offers privacy, security, and convenient access to desired amenities, such as the clubhouse, golf course, park, or pool, is more likely to offer higher resale values in the future.
Understand contractual inclusions and exclusions
Fully understanding what is included and excluded from the purchase contract is also an important consideration when purchasing a new home in a new subdivision. In addition to touring model homes and exploring the subdivision, take time to review all the information provided by the builder and developer and ask for any clarification needed, before coming to any agreement to purchase.
Work with a trusted builder
Opting to work only with experienced new home builders who offer a history of excellent service to previous buyers will help to eliminate problems, such as shoddy construction or warranty issues after the purchase. To learn more about purchasing a new home in a new subdivision or get help with finding trusted builders and developers in your area, contact a reputable, local real estate agent or broker.