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Should I Buy A New Construction Home?
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If your preference is for a brand new home, and you would like us to conduct a search of homes under construction in any town in Fairfield County, Connecticut, simply email us with your request.
Our initial search will be for MLS new construction listings. But, once you're one of our home buyer clients, our search deepens to include non-listed new homes, as well, so that you get access to 100% of the market.
Some builders attempt to control their sales through their own sales staff. They expect to sell at full list price, or above. Options usually run up the price, and can extend delivery time.
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| Rick Aurilio might be a good person to ask that question! |
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We found many more shortcomings on Rick's new construction purchase, and caught the builder, photographically, on at least a half dozen more faults that had to be corrected before closing. The lesson here, of course, is, if you are a buyer who has agreed to dual agency, "your" agent is also equally as obligated to the seller, and is going to try to trivialize these defects., whereas your Exclusive Buyer Broker is beholding to no one but you!
New construction is required to come with a builder's one-year warranty. The builders, however, will refer you to the manufacturers' limited warranties on their products used to build your home. The roof, for example, may come with a 20-year, 25-year, or 30-year warranty from the manufacturer of the shingles. What if the company is no longer in business in 20 years?
The appliances, and heating and air conditioning systems may come with limited warranties . . . usually for a year . . . that the builder feels should not be his obligation unless his subcontractors failed to install them properly. But, what if this home was completed a year ago, and sat unsold for a year after these items were purchased and their warranties already have expired?
So, the ancient element of "Let the buyer beware" still applies in new construction.
Even with new construction, therefore, you should not relax your due diligence. We use high resolution photography and high definition videography every step of the way for our home buyer clients. Our detailed inspections have uncovered many defects and oversights, and also many attempts to defraud our buyer clients. Our photos of the closing inspections have sometimes resulted in new negotiations in favor of our clients right at the closing table, to the consternation of the sellers, their attorneys, and their listing agents.
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| Rick's "Master Builder" ran the bathroom exhaust fan vent up into the attic, and terminated it under the insulation, instead of venting the bathroom humidity outside where it belongs. |
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| Rick had accepted a builder's credit toward light fixtures so he and his wife could pick out better fixtures than the builder had offered. |
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| Rick's new deck was supported by these 2 x 3s, resting on these pieces of 2 x 10s. |
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You may not want to deal with builders and their veteran agents by yourself. And you may prefer not to find yourself in the hands of a seller's agent or subagent at the time defects and omissions are discovered, especially if it occurs at your closing inspection, an hour before your closing. Experienced sellers' agents are very adept at minimizing such discoveries, and sometimes will tell you the builder, who rarely attends your closing himself, will take care of you after the closing. They may even say the closing needs to be postponed until such issues are settled. Your lender will really love that! This is why you don't tell anyone on the seller's side that your possessions are already on the truck!
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| p.s.: Just one more of the many new construction flaws. |
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| So, new construction or a fine resale home, we are here for you. We like new construction, even though it can be a lot of extra work, and often results in time delays. This is just one more area where you would be wise to employ an experienced Exclusive Buyer Broker to serve and protect your best interests.
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