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Buying a New Home |
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What to look for in a new home builder
Buying a new home is a big decision and you want to get full value for your investment. This means choosing an established and reputable builder - someone you can trust, someone who has the technical skills and knowledge to build a good home, and someone who will deal with you fairly and professionally.
Fortunately, there are many good builders around, and with a little effort you will have no trouble finding someone who is right for you. Before you enter into a legal agreement with anyone, you should do a little qualifying of your own: Is this the kind of company that you want to do business with, and how can you be sure that you will get the home and the service you want? Here are some questions you may want to ask:
Is home building your profession? Home building is a serious business. It takes commitment to keep up with everything going on in the industry. It requires solid business skills and a track record of satisfied clients. If a "builder" proposes to build your home as a part-time job, you should proceed with caution. If this "builder" offers you a "better" financial deal, you need to wonder if you will really save in the long run - the old adage that you usually get what you pay for holds true for home buying as well.
What is your experience and how long have you been in business? Good builders are proud of their track record and they will be happy to tell you about their experience, their strengths and what sets them apart from others. They will be honest with you about what they can do for you, when and for how much.
Are you a member of the Canadian Home Builders' Association (CHBA)? Membership in the Association is an indication of a builder's commitment to the industry, to the success of their own company and, ultimately, to their customers. Members voluntarily adopt a Code of Ethics which calls for fair and honest dealings with both consumers and the people they do business with.
What after-sales service does your company provide? Professional builders stand behind their homes with an after-sales service program to correct minor problems that may occur with your new home. Ask how the program works, how home owners request service, and how quickly service problems are resolved normally.
Would we get a warranty with our new home? New home warranty programs vary across the country, but they all have one common goal: to provide protection for the home buyer's investment. In some regions, there is a variety of warranties available. Ask builders to explain the details-you want to make sure you get the warranty that best meets your needs, both now and in the long term.
Will you give us references from your past clients? Professional builders are pleased to provide references. Contact past customers to find out how satisfied they are with their homes. Ask if they were completed on budget and on time, what the builder was like to work with (easy to talk with, understanding, helpful), and about the company's after-sales service.
Can we visit your work site? The work site offers many clues about the company and the quality of the builder's homes. Ask for a tour of a home under construction and a chance to meet the site crew. Take note of details: Is the site clean and well organized? Are materials properly stored, out of the weather? Is your overall impression of the site and workers positive?
Remember that when you buy a home you are also "buying" the builder-you need to pay as much attention to choosing the right builder as you do the right home. Taking the simple steps suggested here will give you the information you need to choose a builder with confidence.
Be clear about what you want
It's hard to get what you want if you don't ask for it. In the home building business, the real professionals want to know your expectations and needs. So don't hesitate to "speak your mind".
Not everyone finds this easy to do, but it is very important. If the builder or sales agent you deal with is not responsive to your questions, chances are you should choose another company.
- When there are things about a new home that you don't understand, ask questions. It's the builder's or sales agent's job to explain things to your satisfaction. Good builders and sales people want the opportunity to do this.
- Ask questions about the builder. We've provided some suggestions. You need to let the builder know that character and reputation matter to you. A real professional builder can meet this test and will respect you for asking these questions.
- Balance price and value. A price that's "too good to be true" probably is. The range of prices in the new home market generally reflect differences in location, features and quality of construction. There's no magic involved.
- If a builder's prices seem out of line with others in your area, ask for an explanation. Higher prices should reflect better-quality materials, finishing, features and service. The opposite is usually true when prices are lower than average. Make sure the price you are offered will deliver the quality you want.
- The buying process is an intense experience for many home buyers. There are a lot of facts and figures involved, but there is also a lot of emotion. Never say "yes" until you're 100% sure about the builder and the home. "Hard sell" sales tactics are a good reason to say "no thanks".
Source: Canadian Home Builders Association
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