What to Expect when Building a New Home

Be Patient.

In today’s real estate market, the most crucial element to building a new home is to remain patient throughout the process. Know that everyone from the sales representative to the person installing your hardwood floors wants to do the best job they can and get you into your home as soon as possible.

Be prepared.

The real estate world has drastically changed. While demand is high and should remain so throughout 2022, the supply has not caught up with the demand. The good news is that you will be able to find your ideal home or build one. Here are a few tips that might help in the process. 1 2

In pre-pandemic years, Ideal-LIVING would encourage our readers to travel to multiple cities and states to decide on the right area. However, now we encourage you to conduct your research before visiting. Then when you visit an area, you can go to multiple communities to see what is the right fit for you.

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Consider Your Budget.

Often, builders are now waiting until the end of construction to give a final price for new homes. Material and labor shortages make pricing very volatile. You can have a price range, but perhaps not an absolute. Housing prices have escalated over the last 18 months, but interest rates are still very low, making it still an excellent time to buy.

Be Flexible.

Due to inventory and supply chain shortages, you might not get everything on your wishlist. Developers are continually releasing new homesites. If you decide on a community, you will want to get your name on a VIP list, so you will be notified of homesites as they come available. And, when you are building, you might want to have multiple choices for appliances, fixtures, or tiles, so there is a backup in case there is a limited supply.

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It will most likely take longer than you think.

It is nearly impossible to give a completion date on new home building as of the writing of this article. Too many variables exist to predict an exact move-in date. For example, ordering windows could take 16 to 18 weeks, which can push back the work on the interior of a home. You will need to work very closely with your builder.

Make sure you have a place to live during construction.

Although it might be a very opportune time to sell your home, if you don’t need to right away, you may want to wait until your new home is completed. Rental homes might also be in short supply in the areas in which you wish to move.