New development homes are springing up all over the West and are a tempting option for many. They can represent savings, good value for money and who doesn’t love the prospect of a brand new home with all modern finishes? But before you jump in and commit, here’s what you need to know about new development homes.
Pros of New Development Homes
Value: They can be good value and give the space you need without the premium price tag of an older home.
Modern: There’s a lot to be said for modern appliances, electrics, plumbing, and contemporary design. Many people enjoy the feeling of a brand new home, not to mention not having to worry about repairs.
Communities:Developments are often close-knit communities with communal areas, which many people like. Homeowners’ associations are often established in new developments.
Choose your finishes: Depending on the development and price level, you might be able to choose certain furnishes and layouts.
Cons of New Development Homes
Cookie cutter style: These homes are often very generic with entire neighborhoods looking the same. If you like individuality, they’re not for you.
No charm: People who like the charm that comes with an older property will be disappointed with a new development home.
Quality varies enormously: Many modern homes are not finished to ahigh standard. Some developers will cut corners, leaving you with costly repairs. At best this could be cosmetic, at worst it could be structural.
Outside Space is often limited: In new homes, the back yard areas tend to be smaller than with older homes of the same size.
3 Golden Rules when Considering a New Development Home
“Buy the builder”: This means only considering developments by reputable builders with a track record of developing high quality homes. Do your research and ask a round. Calling planning departments and local real estate agents is a good start. Ask if developers finish their projects on time and fulfil their contractual obligations. Draw up a list of quality developers and ones to avoid, based on criteria like build quality, warranty, customer service and reputation.
Carry out Inspections: Have inspections carried out during the process and after. This ensures that the developer is doing everything it agreed to. A contractor can examine the quality of the work, allowing you the opportunity to get it changed before it is too late. When completed, take a final walkthrough to check for defects or shortcomings.
Always get a Warranty: Make sure the home comes with a warranty provided by an independent insurance provider. Developer warranties may not be up to scratch, soalways ensure that the warranty covers repairs for a fixed period and includesplumbing, electrical, heating, AC and structural defects.