10 Must-Knows Before Buying New Construction in Charlotte, NC
10 Must-Knows Before Buying New Construction in Charlotte, NC
Thinking about building a new construction home in Charlotte, NC? Whether you're building from scratch or choosing a semi-custom home, there are many factors to consider. In this guide, we break down the top 10 things you need to know before starting your journey to build your dream home.
Table of Contents:
- Introduction to New Construction Homes
- Builder Quality and Reputation
- Fully Custom, Semi-Custom, or Spec Home?
- Understanding Timelines
- Selling Your Current Home
- The Importance of Pre-Approval
- Builder Incentives and Lenders
- Hire a Buyer’s Agent
- Inspections: Pre-Drywall and Final
- Blue Tape Walkthrough and Closing Dates
- Conclusion
- FAQs
1. Introduction to New Construction Homes
Building a new home is exciting, but it’s a completely different experience than buying a resale home. From choosing floor plans to managing construction timelines, there are many moving parts to consider. This guide walks you through everything you need to know before taking the leap into new construction, ensuring that your process is smooth and your final result is everything you dreamed of.
2. Builder Quality and Reputation
In Charlotte, you’ll find many builders, each specializing in different home styles and price ranges. Some builders offer luxury custom homes, while others focus on quick-to-build homes with set features. One thing to note is that, regardless of the builder, they all must adhere to local building codes. However, some builders have higher standards of craftsmanship and attention to detail. Be sure to research the builder’s reputation, reviews, and past projects to avoid any surprises.
3. Fully Custom, Semi-Custom, or Spec Home?
When building new construction, you have the option to go fully custom, semi-custom, or choose a spec home. Fully custom homes allow you to design everything, but this comes with longer timelines and higher costs. Semi-custom homes offer flexibility with some finishes while maintaining a preset structure. Spec homes, where features and materials are pre-selected by the builder, are often quicker to complete and more cost-effective. Choose based on your budget, timeline, and level of customization desired.
4. Understanding Timelines
Building a new construction home can take anywhere from a few months to over a year, depending on the level of customization. If you're working with a tight timeline, spec homes or homes in the final phases of construction may be your best option. Fully custom homes, on the other hand, may take 12-16 months or longer. Always communicate your preferred timeline to your agent early in the process to ensure you're matched with the right builder.
5. Selling Your Current Home
Many builders require you to sell your current home before signing a contract for your new home. This is especially true for homes that are nearly completed or quick move-in options. If you need to sell your home before buying new construction, start planning early. You may need to arrange temporary housing while your new home is being built.
6. The Importance of Pre-Approval
Getting pre-approved for a mortgage before starting the building process is essential. A thorough pre-approval will give you a clear understanding of what you can afford, and it can prevent surprises down the road. Even if you plan to sell your current home, securing pre-approval without that sale is important to ensure you have flexibility during the process.
7. Builder Incentives and Lenders
Many builders offer incentives, such as discounts on closing costs or upgrades, if you use their preferred lender. However, it’s important to compare rates and fees from the builder’s lender with those from independent lenders to ensure you’re getting the best deal. Sometimes, incentives may come with hidden costs, so read the fine print and consult with your agent.
8. Hire a Buyer’s Agent
When you visit a new construction site, the agent on duty represents the builder, not you. This is why hiring your own buyer’s agent is crucial. A buyer’s agent will help you navigate the contract, negotiate on your behalf, and ensure the builder meets their commitments. The best part? Using a buyer’s agent doesn’t cost you extra—it’s a service already factored into the price.
9. Inspections: Pre-Drywall and Final
Even though new construction homes go through city and county inspections, hiring your own inspector is highly recommended. A pre-drywall inspection allows you to catch issues while the walls are still open, and a final inspection ensures everything is functioning as it should before you move in. Any issues found can be addressed by the builder before closing.
10. Blue Tape Walkthrough and Closing Dates
As your home nears completion, you’ll do a blue tape walkthrough (also called an orientation walk). This is where you’ll mark any cosmetic defects that need fixing, such as paint scuffs or small dents. At this point, you’ll also learn how all the systems in your home work, from the HVAC to the water shutoff valves. Keep in mind that builders typically set a firm closing date once construction is complete, so plan accordingly to ensure you’re ready to move in.
Conclusion
Building a new construction home in Charlotte, NC, can be a rewarding experience, but it requires careful planning and knowledge of the process. From choosing the right builder to understanding the importance of inspections, these steps will help you avoid common pitfalls and ensure a smooth journey to your new home. Be sure to work with a qualified buyer’s agent who can guide you through every stage and ensure you get the best deal possible.
FAQs
Q: How long does it take to build a new construction home?
A: Timelines vary based on the level of customization. Spec homes can be ready in a few months, while fully custom homes can take 12-16 months or longer.
Q: Do I need to sell my current home before building a new one?
A: Many builders require that you sell your current home before signing a contract, especially for quick move-in homes. However, requirements vary by builder.
Q: Are builder incentives worth it?
A: Builder incentives can offer great savings, but it’s important to compare rates and fees with other lenders to ensure you’re getting the best deal.
Q: Should I still get an inspection on a new construction home?
A: Yes! A pre-drywall and final inspection are highly recommended to catch potential issues before you move in.
Q: Can I save money by not using a buyer’s agent in new construction?
A: No. The builder’s price includes agent fees, so you won’t save by not using a buyer’s agent. It’s in your best interest to have someone representing you
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Kaila has built a stellar reputation in real estate, consistently ranking in the top 1% of agents, thanks to her innovative use of YouTube to educate clients on relocation. Check out her content on YouTube, where she shares valuable insights for homebuyers and sellers. Her passion for mentorship and a balanced lifestyle, as a devoted wife, mother, and artist, further sets her apart in the industry.
