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7 Key questions you need to ask when buying a new home

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Buying a new home and beginning the home building journey can be both daunting and exciting. It’s one of the biggest decisions you will make in your life, so it’s important to ask some key questions before you begin the process. 

In this blog post, we will outline seven questions that you need to ask when buying a home. By answering these questions, you will be in a better position to find the right home for your needs!

1. How much can I afford?

This is probably the most important question to ask yourself before beginning the home-buying process. Knowing your budget will help you narrow your search and avoid wasting time looking at houses that are out of your price range. There are a number of factors to consider when determining how much you can afford to spend on a home, including your income, debt, and down payment.

Most residential home builders, like Coral Homes, offer fixed price home and land builds. However, most of the time the cost of the home is separate to the land, therefore you need to establish your borrowing capacity, before you can begin the home building journey.

2. Is it possible to customise the property?

When you purchase a new home, you usually have the opportunity to select from a range of floor plans and finishes. However, if you have specific needs or wants that aren’t met by any of the available options, you may be able to make some tweaks.

customising the house

This could involve adding features such as particular appliances or extra storage. While customisation can be a great way to get exactly what you want, it’s important to keep in mind that it may come at an additional cost.

3. Where do I want to live?

One of the most important decisions you’ll make when buying a new home is deciding where you want to live. There are many factors to consider, from commutes and schools to amenities and crime rates. If you have a family, you might prioritise safety and good schools.

If you’re a first home buyer, you might prefer to be in the middle of the action. And if you’re retired, you might be looking for a slower pace of life. No matter what your priorities are, it’s important to carefully weigh all of your options before making a decision.

4. When is the completion date?

Always enquire about the projected date of completion before buying a newly constructed home; though the turnover date is often subject to change, you should at least have an estimate.

Setting the right expectation and timeline is important as a new homeowner, as you do not want to be rushed into making decisions or end up paying for storage. Understanding when the construction is expected to be completed will help set your mind at ease and let you better plan for the future.

5. What are my must-haves?

Make a list of features that are non-negotiable for you in a home. Otherwise, you could end up choosing a property that doesn’t suit your needs. For example, if you have a pet, you’ll want to make sure that the home has a backyard. 

At Coral Homes we have a wide range of beautiful and affordable homes to choose from.

Similarly, if you have young children, you might want to choose a property with a large yard so that they have plenty of space to run around. Another important consideration is the number of bedrooms and bathrooms.

If you have a family, you’ll need enough space for everyone to sleep comfortably. And if you entertain guests often, you might want to choose a property with an extra bedroom or bathroom so that your guests have somewhere to stay. The decision of what features are must-haves will come down to your personal needs and preferences.

6. What are the warranty coverage and terms?

When you buy a newly constructed home, it will likely come with some type of warranty coverage. The most common type of warranty is a builder’s warranty, which is typically offered by the builder or developer of the property. At Coral Homes, we offer an extensive Service & Warranty program, to give you peace of mind. 

Builder’s warranties typically cover defects in materials and workmanship for a period of one year from the date of purchase. In addition to builder’s warranties, there may also be manufacturer’s warranties on appliances and other major components of the home. It is important to review all warranty coverage and terms before you purchase a newly constructed home so that you understand what is covered and for how long.

7. Can you introduce me to your previous homeowners?

When finding a home builder it’s always a good idea to ask for customer testimonials. This way, you can see previous client’s honest opinions about the builder or developer.

meeting other homeowners

For example, you might want to learn about the quality of workmanship, whether the project was completed on time and on budget, and if there were any issues that arose during construction. Getting references from previous clients is a great way to get an idea of what it will be like to work with a particular builder or developer.

Final Thoughts

Asking yourself these seven key questions can help to ensure that you choose the right property for your needs. Of course, this is just a starting point and you’ll need to do additional research before making a final decision. However, taking the time to ask these questions can help to ensure that you’re making a wise investment.

Ready to start your search for the perfect newly constructed home? At Coral Homes we have a wide range of beautiful and affordable homes to choose from. Contact us today to learn more about our latest home designs. We’ll be happy to help you find the perfect home for your needs.

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