The main benefit of buying an incomplete house is that you can customize it to your taste. However, you also need to play your part by confirming the following things before going ahead with the purchase:
When buying an incomplete property, don't rely on the promise of the builder or seller on when the construction will be completed. You don't want to be negotiating for your house's completion months after the promised date is passed. To avoid such a scenario, get a guarantee (in writing) on when you can expect delivery of the property. You should also know what measures are open to you should your house not be ready on time.
What's Included in the Warranty
One of the premier benefits of buying a newly constructed house is that its warranty will still be valid. However, this may not offer you enough comfort if you buy such a property only to later learn that the warranty doesn't cover everything you though it does.
To avoid such disappointments, scrutinize the warranty information to know not only which parts of the house are covered, but also who is responsible for the warranty. This is necessary because, in many cases, the builder isn't responsible for the entire warranty; different manufacturers such as roofing or window manufacturers may be responsible for the warranties on their products.
You also need to know exactly what you should expect as standard features in your new property. Some people assume that their houses will be constructed exactly like the show (model) house, but that isn't always the case. in many developments, the show house can contain a mixture of standard and upgrade features and materials. Therefore, if the show house has a whole house audio system and a hardwood flooring, don't assume that your house will have them too. Instead, confirm all the features with the builder.
Conditions Attached to the Sale
Lastly, you also need to confirm all the conditions attached to the sale before going ahead with the transaction. This will prevent you from buying a property and realizing that you can't use it for your intended purpose. For example, you should know whether you will be allowed to rent out the house since this isn't a given with all properties; some builders only deal with owner-occupied houses.
As should be the case with any property purchase, a real estate agent can help you understand the process so that you can make an informed decision when buying an incomplete house. The information can also help protect your legal rights. Check the real estate listings in your area today for more options.