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Protecting yourself when purchasing a home from a developer

| Nov 28, 2018 | Construction |

If you are in the market for a new home, specifically new home construction, you likely have a lot of worries. Buying a home from a developer that is building a number of homes at once can be stressful. These development projects can include anywhere from as little as 10 homes to upwards of dozens of homes. With a project of this scale, you will rightfully worry about the quality of construction used in building the homes. Today, we will take a look at how you can protect yourself when buying a home from a developer.

Conduct a lot of research into the developer of your new home. Find out their experience building new homes, how long they’ve been in construction, if they’ve built in this area in the past, if they belong to any professional associations, if they offer warranties for their work and if they allow visitors to their construction sites.

Even though you are purchasing new home construction, there should still be an inspection conducted prior to the keys changing hands. The inspection will look to make sure the fire code has been followed, the electrical work is correct, there are no structural issues and no insect infestations.

Before you sign a contract with a developer, you should have them explain the warranty that they offer on their work. The warranty should cover defects found in the mechanical systems of the home, defects found in the home’s structure and living expenses should you be unable to live in the home due to any problems.

As you can see, purchasing a home from a developer can be risky. If you know what it takes to protect yourself, you should be able to avoid major issues with your new home or the purchase contract.

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