How to Plan for Unexpected Costs with New Construction Homes in Tyler
Buying a new construction home in Tyler is an awesome opportunity for many of our clients, who are looking forward to purchasing a brand new house with the many benefits that come along with a new build. When you are looking for new construction homes for sale in Tyler, it is essential to understand the financial differences between buying a new build and an existing home.
Contact us any time to learn more about buying a home in Tyler, and before we get started on the search for your new build, check out this list of costs you should plan for that may differ from your previous home-buying experience.
Upgrades and Customization
One of the primary benefits of buying a new construction home is the opportunity to upgrade and customize it. Rather than planning for a renovation as you would when buying an existing home, you have the opportunity to have the home built the way you want from the beginning.
The challenging part of this benefit is the opportunity to underestimate how much the price might go up during this process. Builders often provide base models with standard features, but if you want additional upgrades or customization, it can add significant costs. This includes premium flooring, countertops, appliances, and other personalized options that may not be part of the standard package.
The best way to navigate this is to prioritize your wish list, and consult with us about which features are going to not only increase your purchase price but also the value of your home. Some upgrades have a better ROI than others, and we can help you navigate that process.
When you buy an existing home, you may want to make some changes to the landscaping or update a fence, but you almost certainly won't be starting from scratch. However, buying a new construction home often means moving into a property with no landscaping or fencing. You will also likely have a deadline by which you need to install landscaping of some kind.
This process will vary from builder to builder, so ask all the relevant questions in order to factor this into your overall budget in the buying process.
New construction homes typically come with bare windows, and purchasing blinds, curtains, or other window coverings can be an additional expense that buyers might not have initially accounted for.
Make note of the number of windows in your plans, and the dimensions of them. This way, you can get quotes from window covering professionals or shop around for curtains to know what your budget should include.
While new homes usually include basic appliances, they may not come with high-end or upgraded models. Buyers looking for premium appliances may need to budget for these separately.
You may find that buying these appliances as an upgrade from the builder is a good price, but don't forget to shop around. In many cases, you will sacrifice some convenience but get a much better deal to buy appliances from a different retailer.
In most cases, you will have some initial costs to set up your home. While some utility connections may be included, buyers may incur additional costs for hooking up services such as cable, internet, and satellite. Water, sewer, and garbage fees may also be applicable. Get these details from your builder before you sign the contract to make sure you can plan for everything.
To avoid surprises, it's crucial for buyers to thoroughly review the builder's contract, ask about potential additional costs, and work with a real estate agent who can provide guidance on budgeting for both expected and unexpected expenses associated with buying a new construction home. We have the experience you need in an agent to walk with you through the entire process.