Tips on New Construction Upgrades
Tips On Choosing Home Building Upgrades | MA Home Building
One of the benefits of home building is the option to change the design with a variety of upgrades. This may get confusing if not tracked correctly. The tips on choosing home building upgrades in this blog will help minimize the complications.
Know What Options May Be Available
Most builders will hand you a set list of permitted upgrades. Even if not listed, other changes could be allowed if requested (this actually varies by builder). You will need to provide exact information on upgrades in order to receive a quote from the builder. Changes beyond the standard list will make your property special.
Keep Deadlines In Mind
The home building process occurs under a set schedule. Things normally occur in a set order. The selection of upgrades must comply with that timeline. Make sure you are aware of the deadlines for wrapping up selections on particular upgrades. You could miss out on opportunities or face higher costs if you act too late. For instance, the best time to pre-wire for sound systems is before the drywall is added.
Make Requests in Writing
When choosing upgrades, make sure you document them. This helps everyone keep track of changes and will protect your interests. Be as unambiguous as possible in your description of the changes. For example, mention manufacturers and part numbers when applicable.
Notify Your Lender of Upgrades
You might want to roll the expense of upgrades into the loan. First, look into whether that is allowed since it will increase your purchase price and loan amount. Some builders require that you pay for upgrades up-front, but it might be considered as part of your deposit when estimating cash due upon closing. Your lender must approve any changes, so it is best to inform them in a timely manner. Late modifications may affect the settlement timeframe.
Other Tips On Choosing Home Building Upgrades
Timelines and documentation are critical in each real estate transaction, but this is particularly true with new construction. Choosing a great real estate professional and loan officer is essential too. Good communication among everyone involved will minimize any stress and issues. For other tips on choosing home building upgrades, contact Bradford Pratt at REMAX on the Charles.