10 Steps to Owning Your Brand New Pre-Construction Home (Stress-Free!)

Hey everyone,

Today, we're bringing you a comprehensive guide on buying a pre-construction home. This might seem like a daunting process, but fear not – we're here to break it down into 10 easy-to-follow steps!

So, whether you're a seasoned homebuyer or a complete newbie, this video is packed with valuable insights to help you navigate the exciting world of pre-construction homes.

Let's dive right in!

Step 1: Question and Answer Period

This initial phase is all about gathering as much information as possible. You'll want to research the builder, the development site, the demographics of the area, pricing, closing dates, and deposit structure. It's also crucial to get a pre-approval from a bank at this stage to determine your affordability.

Step 2: Picking Your Model and Lot

Now it's time to find your dream home! This step involves choosing a house plan that perfectly suits your needs and a lot that complements the plan. Don't forget to consider factors like sun exposure and any easements on the lot.

Step 3: Signing the Offer

Once you've found the perfect match, you'll need to sign a builder offer. Keep in mind that these offers can be quite complex, so we highly recommend having a lawyer review it before you sign on the dotted line.

Step 4: Conditional Period

This is your chance to put in conditions on your offer, such as a lawyer review or a finance condition. The video notes that because closings are so far out for pre-construction homes, getting a mortgage pre-approval that far in advance can be difficult.

Step 5: Firming Up Period

After removing the conditions from your offer, it becomes a firm offer. This is the point of no return, so make sure you're absolutely confident with your decision before moving forward.

Step 6: Permit Stage

Once the builder receives your signed drawings, they will apply for a permit. This can take up to a month or more, depending on the city.

Step 7: Customer Builder Meeting

After the permit is approved, you'll have a meeting with the builder to discuss your selections for things like flooring, cabinetry, and lighting.

Step 8: Picking Your Selections

This is the fun part for many buyers! In this step, you get to visit various suppliers to choose the finishes for your home. Get ready to unleash your inner designer!

Step 9: Walkthroughs

There are a few walkthroughs scheduled throughout the construction process. The first one is the electrical walkthrough, where you can make decisions about lighting placement.

Step 10: Pre-Delivery Inspection (PDI)

The final step is the PDI, where you'll meet with the site coordinator to inspect the home for any damages or unfinished work. The site coordinator will also show you how to operate and maintain the home's various features.

And that's it! You've successfully navigated the exciting journey of buying a pre-construction home. We hope this guide has been helpful. Don't forget to reach out to us f you have any questions!

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