The great thing about new construction is the option to personalize amenities through upgrades. This can get complicated if not coordinated correctly. The new construction upgrade selection tips below can help diminish any issues.
Keep Deadlines In Mind
Homes are built with a certain timeline. Progression usually take place in a set sequence. The selection of upgrades must coordinate with that schedule. Know the deadlines for making selections on potential upgrades. You will lose options or face added fees if you act too late. For example, the best time to include wiring for built-in speakers is before drywall is added.
Understand What Options Are Available
Most builders have a prepared list of common upgrades. Many builders will grant additional upgrades outside of their list. You should include exact details on upgrades to receive accurate prices. Upgrades above the provided list can be a great way to make your home stand out.
Make Changes in Writing
When selecting upgrades, it is helpful to submit it in writing. This keeps everyone informed. Be as specific as possible in your explanation of the changes. For example, if you select a specific brand or style, note that in the write-up.
Give Your Lender Details On Changes
If financing the property, you may wish to add the cost of upgrades into your loan. First and foremost, ask your loan officer if that is an option because it will change the loan value. Most builders require that you pay for upgrades up-front, but it could be considered as another deposit when estimating money payable at closing. The lender must approve all changes, so submit the request as soon as possible. Last minute changes could postpone the settlement date.
Additional New Construction Upgrade Selection Tips
As with any aspect of the real estate process, paperwork and time frames are extremely important for new construction. Choosing a good real estate broker and mortgage company is important too. Open communication between all parties involved will make the process less stressful. For further new construction upgrade selection tips, contact Sonny Solomon at The Keyes Company.
