NEW BUILD TIPS: THE GOOD, THE BAD, AND THE UGLY OF NEW CONSTRUCTION HOMES | Prepare for the Unknown
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- čas přidán 2. 08. 2024
- New construction homes are exciting. But with the good, comes the bad... and the ugly. New builds can throw a few curveballs that are much different than what you would see with a home purchase otherwise. We've had some great experiences, along with a lot of stress.
Going through this process right now, I definitely have a lot to say! If you're going through this process yourself or thinking of building a new house soon, be as prepared as possible going in. There is a lot of fun and excitement to be had, but there can be disappointment, heartache, and a roller coaster of emotion along the way. I've experienced a lot of this since we initially signed our paperwork in November of 2020, I hope this helps you out!
More questions about a new build? Check out my playlist for the new build process!
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How much do contractors usually jack prices up for like cabnet handling other things? Would it be better to buy yourself?
I always enjoy your videos and the information you offer.
I really appreciate that, thank you so much for watching
We're still in the framing stage with an estimated May closing date and your videos have kept us confident in all our decisions we've made so far! Are you going with the preferred lender or are you going with an outside lender? For our builder, their high closing costs/rate quote negate the incentive they'll provide compared to other lenders. Just curious with your experience
It's so good to hear that, my true hope with starting this channel was that someone can learn from my growing pains in this process. And a huge congratulations on your home, it's such an exciting time.
We actually locked in with a different lender than the builder's preferred. We did a lot of comparison and the competition was able to provide us with a better rate (and actually better closing costs!) than the preferred lender. It's this back and forth with wanting that instant gratification from the incentive vs the actual long-term cost of the mortgage. There are obviously many intricacies and things to consider but for us it looks like not taking that incentive will do us better in the long run.
What I've heard a lot, if the incentive is good enough of course and if you're ok with paying closing costs again, is that a number of people will go with the preferred lender to get the incentive and then turn around after and go with someone else. So many ways to approach, but I'd definitely say to shop around and see what everyone can offer, and can use that to get them to compete against each other to get you the best deal
Hi Nicole, great video. We are almost done with the design center customization part and yes they are pretty behind with any newer trends. where are you located though? In the US?
Thank you! Yes I'm in Virginia. Having been to design centers for a smaller builder like mine and a large builder like my sister-in-law, it was pretty surprising to see that their offerings are so similar and a few years behind.
I hope everything goes well with the rest of your design center piece and that your'e in your home soon!
I heard that some local builders (Seattle) supposedly cancelled and resold the homes to others because the market kicked up so high.
So crazy! I had heard (unconfirmed, I have no firsthand knowledge of this) that some builders were dragging out the process in hopes that people would get tired of waiting and move on, then they could sell the same thing at a higher price! Definitely insane if true.
We could not get the exterior colors we wanted it was only for other elevations. I was totally bummed and put on the spot to pick a different color. I ended up picking 70k in upgrades but had to cut it down to 40k because everything over 40k we had to pay 50% upfront. We haven't even broke ground yet so it's going to be a long road to completion.
I'm so sorry you're going through these issues, I completely understand how hard it can be. Hopefully (if it's something that isn't expensive) you can change the colors later on if your HOA is ok with that!
I'll keep my fingers crossed that you break ground soon, this waiting is HARD.
@@nicolenieves I am hoping the HOA will let us change it. I am actually trying to see if I can put in a request soon.
I'll keep my fingers crossed for you!