Buying a New Home Before Completion - The Pros and Cons

Buying a new home is a daunting task in itself. YourThis makes you feel disappointed and cheated in
may keep on hunting for ages and still not findbuying a pre-constructed home. Builders are willing to
anything that fits into your individual requirements.extend the facility of allowing you to indulge, but will
Whatever you come across can involve a lot ofnever do anything that would compromise the entire
modifications that can cost you a fortune, in additionbuilding project. They prefer making pre-construction
to the hassles involved in getting things done to yourbuying contracts as it saves them a lot in carrying
liking.costs. However, they keep in mind the marketability
When you suddenly find an ad that says newof the property if you happen to back out of the
uncompleted houses are up for sale with an optioncontract for some reason.
that allows homebuyers to select finishes, colors etc,Therefore, it is advisable that you have an open
it seems just the right choice to get the home youdiscussion and clear-cut understanding with the
had been searching for, for so long.builders as to what choices you will be allowed to
When you get into a purchase contract with themake before you bind yourself in a pre-construction
builder, you are naturally happy that things will nowpurchase contract. This will help avoid disappointment
be easy for you to have the home finished to yourlater and let you maintain a good working relationship
individual taste. However, after a few months youwith the builders. Ask for a detailed list of
begin to doubt if your move to buy the house was aspecifications related to the finishing also. It should
right one. The reason for this may be the nuances inclearly specify the quality of plumbing, tiles, electrical
the contract you missed appreciating properly. Nowitems, carpet, linoleum and other fixtures to be
when you understood that you had a choice toprovided by the builder. Some builders may have a
make a selection of the interior paint colors, you mayprovision in the contract that allows you to make a
have had different hues of blue/green/ pink in mindchoice to a certain price limitation. There can also be
whereas the contract stipulated a choice from amongprovisions for upgrades in case you are prepared to
just two colors, say bone and Navajo white. Whenpay for better quality fixtures than what is standard
you check with the builders they say they can doas per the contract. However, you will usually have
what you want only if you make a non-refundableto pay upfront for the upgrades, as the builder will
prepayment for it. This leaves you with no choice butwant to be protected against the extra costs in case
to opt for one from whatever they have to offer.you back out of the contract.
Even for the exterior when you pick what you fancySince it may not be easy for you to visualize on your
you are told by the builders to select something else,own as to how the house will look after completion,
as it does not go along with their project as a whole.it is best to get the services of an interior decorator
After many such rejects you throw up your hands inwhen making selections of colors and other items as
despair and just let them do what they want.he/she can offer expert advice on the issue.