5 Things to Know Before Buying New Construction in the Temecula Valley.

 

Thinking about buying a new construction home in Temecula, Murrieta, Menifee or Winchester? Here are 5 things buyers should know about builder reps, incentives, taxes, HOA fees and inspections.

New construction can be exciting.

You walk into a beautiful model home and everything is brand new, the builder may be advertising a great interest rate or closing-cost incentive, and all of a sudden you’re picturing yourself living there.

But before you fall in love with the model home, there are a few things I want you to know.

As a Realtor who works with new construction buyers throughout the Temecula Valley, my job isn’t to convince you that new construction is the right choice.

My job is to help you understand the full picture so you can decide if it’s the right choice for you, because it's not for everyone.

Here are five things I think every buyer should know before walking into a new construction sales office.

1. The Builder’s Sales Representative Works for the Builder

The person who greets you at the sales office can be incredibly helpful, They can explain floor plans, available homes, upgrades, incentives and the builder’s buying process.

But there’s an important distinction:

They work for the builder.

Having your own real estate agent gives you someone who can help you look at the purchase from your side of the transaction.

And here's something buyers often don't realize: you need to involve your agent at your very first visit to a new construction community.

Different builders have different policies regarding Realtor representation, so don't assume you can simply add your agent later, because honestly MOST of them will not allow you to introduce us later.

2. The Advertised Price Doesn't Tell You the Whole Story

A home advertised in the $500s may catch your attention, but the price of the home is only one piece of the puzzle.

This is where I encourage my buyers to look beyond the interest rate and purchase price.

Depending on the community, your monthly housing costs may also include:

• Property taxes
• Special assessments or Mello-Roos
• HOA dues
• Flood or Fire insurance
• Solar payments 

Two homes with similar prices can have very different monthly payments.

That's why I tell my clients:

Don't shop for the lowest rate. Let's look at the full picture.

Before we decide whether a community fits your budget, I want to know the tax rate, HOA dues, special assessments and other costs that could affect your payment.

3. A Builder Incentive Isn't Automatically the Best Deal

You've probably seen the advertisements.

Special interest rates. Thousands toward closing costs or Interest rate buy downs. Upgrade credits. Move-in specials.

Builder incentives can be fantastic, but we still need to understand exactly what you're getting.

Some incentives may require you to use the builder's preferred lender or meet certain financing and closing requirements.

Instead of looking only at the size of the incentive, I help my buyers ask:

What does this actually do for my monthly payment and my total cost?

Sometimes the advertised offer is a great fit. Sometimes another option deserves a closer look.

The goal isn't simply to get an incentive.

The goal is to get the deal that makes the most sense for you.

4. The Model Home Isn't Necessarily the Home You're Buying

Model homes are designed to make you fall in love, and they're very good at it.

That gorgeous flooring, upgraded kitchen, custom backsplash, lighting, built-ins and beautifully landscaped backyard may not be included in the base price.

Even things you might assume come with a new home, such as certain window coverings or backyard landscaping, may be additional expenses.

Before you compare one builder to another, find out what's actually included.

I want my buyers comparing real numbers to real numbers, not a base price at one 

community to a heavily upgraded model at another.

5. Brand New Doesn't Mean You Should Skip the Inspection

One of the biggest misconceptions I hear is:

"It's a brand-new house. Why would I need an inspection?"

Because new homes are still built by people, and issues can happen.

An independent home inspection can give you another set of eyes on the property before closing, and I highly encourage it.

You'll also have a walkthrough with the builder where you'll identify items that may need attention. You'll sometimes hear this called a blue-tape walkthrough, because items needing correction may be marked with pieces of tape.

New construction comes with warranties and builder processes that can help address certain issues, but that doesn't mean you shouldn't do your own due diligence.

New Construction Is About More Than Picking a Floor Plan

There are some beautiful new construction communities throughout Temecula, Murrieta, Menifee, Winchester and the surrounding Temecula Valley.

But they're not all the same.

One community may offer a lower starting price but have higher taxes. Another may have an HOA but include amenities you would actually use. One builder may be offering a fantastic financing incentive while another community may give you more home or land for your money.

That's why I don't believe your new construction search should begin with:

“Which model do you like?”

It should begin with:

“What matters most to you?”

Your monthly payment. Your lifestyle. Your commute. Your space. Your long-term plans.

Then we find the communities that fit.

Thinking About New Construction in the Temecula Valley?

If you're thinking about buying new construction in the Temecula Valley, or you want to know more about a specific community, let's connect.

I can help you compare communities, builder incentives, HOA fees, property taxes and the details that can affect your true monthly payment, so you can look at the full picture before making a decision.

Have a community in mind? Reach out and let's talk about it.