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Buying Your Home

Steps to Buying a Newly Built Home This Year

If you are thinking of purchasing a new home this year you are not alone.  With a shortage of homes in the existing-home market builders are seeing a surge in demand for new construction.  This is certainly the case at Landmark 24 Homes.

What’s the First Step in Buying a Home?

Before you get too excited and start hunting around online for a home, there are a couple of steps you should take first.

You should begin by checking your credit score to give you an idea of what type of loan you may qualify for.  Credit scores play a big role in mortgage lending.  Next, take a good look at your finances and calculate how much house you can afford.  Getting pre-approved for a home loan will give you the comfort level to move forward, and the builder will require a letter before you can go to contract.

Pre-Sale Home vs Spec Home?

With a pre-sale home you have the opportunity to pick a floor plan, a homesite and select options and upgrades for your home.  This is an exciting option!  However, in 2022 the housing market is on fire and construction costs are continuing to rise.  This is why a spec home may be a better option.  Spec homes can be found in various stages of construction such as permitting, framing or move-in ready.  It’s true you will not be able to make changes to the home regardless of construction status.  BUT, at Landmark 24 Homes our spec homes are built with attention to detail.  The fixtures and finishes in each home are hand selected by our talented design center specialists.  They are built with care!

Next Steps After Contract is Written?

If the home being purchased is a pre-sale the next steps will be to schedule a design gallery appointment.  Once all items have been selected and a Start Order signed the builder will then apply for the permit.  Next, after permit has been received a Pre-Construction Meeting will be scheduled to review standard home features, contract options, and to meet the site supervisor.  Construction is about to begin.

After the home is completed, whether you are purchasing a spec or pre-sale you will be contacted to schedule your New Home Orientation where you will learn everything about your new home.  This takes place about a week prior to closing.

On the day of closing there will be a follow-up walk through of the home, followed by signing of all the documents transferring ownership of the property to you.

Now it’s time to celebrate!