The New Home Buying Process in Delaware
Many factors and stages involved in buying a new home have their own timelines.
1. Financial Preparation: Secure financing approval before starting your search. Determine your budget based on income, debt, and savings. Explore homebuyer assistance programs and available loan types. This should tell you your budget, which will guide your future decisions.
2. Define Lifestyle Needs: Create a list of must-have features for your new home. I will work with you to align your needs with suitable communities and builders.
3. Research Neighborhoods & Builders: Visit neighborhoods, talk to residents, and assess proximity to amenities. Research builders through online reviews, testimonials, and site visits.
4. Customization Options: Understand the types of new homes available—completed, quick delivery, to-be-built, or fully custom. Explore standard features and available upgrades.
5. Financing & Pre-Approval: Official pre-approval with the builder or consider construction loans for custom-built homes.
6. Contract Negotiation: We will collaborate to negotiate and understand the sales contract, clarifying timelines, costs, and conditions.
7. Home Inspection: Consider a professional home inspection to ensure construction quality. Check doors, windows, faucets, and speak to other homeowners for insights.
8. Home Warranty: Review the New Home Warranty provided by the builder. Understand coverage for potential defects or issues.
9. Pre-Settlement Walk-Through: Attend a pre-settlement walk-through to address any last-minute concerns and familiarize yourself with the property.
10. Settlement: Complete settlement. Plan for alternative accommodation if the new home is still under construction. Congratulations on your new home!