If you are looking for new homes in McKinney, here is everything you need to know about buying a new home from a builder
If you’ve been looking at new homes in McKinney, you’ve come to the right spot for some helpful information. By now you’re either getting ready to start your search for a new home, or you’ve found the new home of your dreams. Here are some additional things to consider if you plan on purchasing a new build home directly from a builder in the McKinney area. Depending on your price range and location, there are three primary categories of builders: custom builders, semi-custom builders, and non-custom builders. Custom builders are exactly that; they allow you to select multiple options and personally customize your floor plan and nearly every feature of your home. Semi-custom builders, who are common throughout the United States, allow you to pick from a set of general floor plans and customize certain interior and exterior aspects of your home. Non-custom builders build homes to their own specifications and allow you to purchase them only when construction is complete. Sometimes these homes are referred to as “spec” homes, meaning they are built to the builder’s own specifications.
You probably can guess how important it is to research your builder’s reputation. Online is a great place to start your research, but remember to take certain reviews with a grain of salt. Don’t assume a few negative reviews of a builder means that the builder is bad. With the volume of homes built in North Texas, some individuals just can’t be pleased or made happy. Some builders in the McKinney area with excellent reputations include Highland Homes, Huntington Homes, and Darling Homes, among a few others. Ask your agent for their advice on their experiences with builders. Highland Homes put together a nice piece about choosing the right builder, which can be found here: How To Choose The Right Builder
A builder’s salesperson is who you will first come in contact with when visiting a new neighborhood. In Texas, builders’ salespeople most often aren’t licensed real estate agents. Most builders’ representatives are employed by the builders themselves, but some are also contracted by third parties to staff model homes. The most important thing to remember is the salesperson solely represents the builder’s interests throughout the transaction, not your interests. As friendly and helpful as they are, you should still be represented by a real estate agent during your purchase. It doesn’t cost you a thing to be represented by an agent when purchasing a home, and you’ll have the added benefit of an experienced agent representing you during negotiations and the building process. Buyers’ agents are paid by the builders themselves; builders pay them out of a separate marketing budget that doesn’t negatively affect what you pay for your home. You will need to have your agent present with you upon your first visit to the model home and with the salesperson. If you happen to find yourself out breezing through model homes on a Sunday afternoon, just inform the salesperson that approaches you that you are working with an agent. Do not discuss price or any specifics with the builder’s salesperson without your agent present. You could risk interrupting the negotiation process.
If you are willing to forgo a few minor details that someone else chose, you can often find great deals on spec homes from semi-custom and custom builders. It is not uncommon for buyers to begin the purchase process, select specific features they want in a home, and then back out near the end of the construction process for various reasons. This leaves the builder with a home built to someone else’s specifications but with no buyer. Builders don’t like for completed homes to stay in their inventory with no identified buyers, so they will often sell these homes at a discount. Even if you don’t like the color of paint in the master bathroom or the style of the carpet upstairs, these are easily and inexpensively fixed — especially if your agent can negotiate a significant discount on the home.
Before you sign a contract with a builder, carefully review their warranty with your agent and compare it to other builder warranties. Knowing how long it lasts and what your warranty covers can alter your decision on which builder you choose. Some warranties are better than others, so carefully review everything with your agent. Inspections are another important aspect to remember when building a new home. Don’t let the builder’s representative convince you that you don’t need an inspection. An independent third party can easily identify things missed by the builder’s inspectors and city inspectors. New home inspections are well worth the money, and they can save you from having to submit warranty claims after you purchase your home.
Finally, do not neglect your budget during the design process. Try not to get carried away with upgrades that can push your purchase price above your limit. Keep in mind that certain upgrades can even be made after you purchase your home by different contractors for less money.
~Leslie Remy, Broker