Unexpected Costs of Buying A New Construction Home

Dated: January 10 2022

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What happens when you purchase your dream new construction home, you get the keys, and then you realize you still have thousands of dollars to spend? We’ll tell you what happens. You start thinking Top Ramen doesn’t taste so bad!

Hopefully, you’re seeing this video before this situation happens though. If you’ve been considering purchasing a new construction home, keep reading to avoid blowing your budget.

There are a few costs that new construction buyers often overlook until it’s time to move in. 

Window treatments for example; new construction homes generally don’t come with blinds or curtains and those can really add up. Make sure you have measurements for all the windows you want to be covered and bids as well if you plan on paying someone to install them.

Depending on the HOA management, you may have to plan for your own landscaping as well. Think fencing, shrubbery, and if you’re moving in spring or summertime, your freshly sodded lawn is going to need a ton of water so you’ll want to plan for a higher than normal water bill.

If you’re moving from a rental or previously owned home, you may expect your new home to come fully set up with all of the appliances and light fixtures you’d like. It’s not outrageous to expect this, but definitely work with your agent to find out what is and is not included because this isn’t always the case.

One factor that we see new construction home buyers miss all the time is the new furniture. If you’re moving into a bigger space, you may want more furniture and décor. You may not need it right away, but you should absolutely be planning for it, and be sure NOT to buy anything or get any additional credit lines until you’ve closed escrow, you don't want to risk not qualifying because you’ve increased your credit limits.

Lastly, the most obvious but one that does surprise buyers. You may have toured a model home when you decided to purchase new construction. Make sure that you’re fully aware of what upgrades come or do not come with the home. If you fell in love with that new luxury plank flooring, I would advise you to ask the builder, “Is this included or is this considered an upgrade?”

As you can tell, there are a ton of factors that can make your purchase price skyrocket when you’re buying a new construction home.

It’s crucial that you have your own representative on your team to make sure you’re aware of what you’ll be spending on your new construction home before those bills come. We’d love to chat more and answer any questions you have- reach out any time!

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Erica Wolfe

No one knows their way around Jupiter, Florida like native resident and Realtor Erica Gouldy Wolfe. She’s been up and down just about every street of this charming, 24-square mile waterfront town. W....

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