Category Archives: New Construction

Your Checklist Before You Buy Your Next Home

hands, Pen and checklist featuring the words"Home Buying Checklist"
Home Buying Checklist

The time has come and you are ready to buy, but before you start searching for your next home review this checklist. This list helps you prepare your budget in advance and guide you to financial success in the future.

1. Reduce Debt & Increase Credit Score: Before you start looking for your next home you should request a credit report. This will give you a starting point on understanding your credit score before you request a loan. Your credit score will influence the interest rate of your loan.

2. Save Money to Set Yourself Up with a Large Down Payment: While it is possible to purchase a home without a 20% down payment it’s best to get as close as possible. This will allow you to have a smaller mortgage rate, Avoid PMI, and receive a better rate. If you do not have a 20% down payment you may qualify for a VA or FHA loan.

As you begin the process to find your next home checking these items off your list will provide you with a more successful home buying experience. Our team is here to help you! Let us know the area and/or neighborhood you are looking to live along with your top needs our team of professionals will assist with finding your next home.

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Should You Get A New Home Or A Previously Owned Home?

Man and woman looking at a paper deciding new orpreviously owned home in coastal virginia New Or Previously Owned?

What kind of home are you looking to buy? New construction or previously owned? There are advantages to each approach.

Previously owned pros

  • You may not have the option to purchase or build a new construction home in your desired neighborhood. If location is a top priority, buying a resale home may be your only choice.
  • Established neighborhoods sometimes provide a stronger community base than newer developments.
  • Mature landscaping, including larger trees are typically not available with new construction homes.
  • Most home owners sell a property with all necessary appliances included, so you know the home is move-in, live-in ready.

New construction pros

  • Modern floor plans typically include popular room types and layouts that might not be available in older homes.
  • When you buy a new home, you often have the opportunity to choose the appliances you want and pick custom details like flooring options, window treatment, paint colors, etc. (Though these choices/upgrades usually come with additional cost.)
  • New homes are often constructed with energy-efficient materials and system including insulation, windows and heating/cooling systems.
  • Home builders often offer added protection to homebuyers by offering a home warranty.

If you would like additional information on which option might be your best choice or are ready to look at homes, please call us. We would be happy to help you!

EXIT REALTY CENTRAL

(757)466-1009