Thinking about new home construction? Here are 5 tips for success.

Mon July 15, 2019 New Construction

Building a house can be the ideal way to get your dream home. Everything in it is brand new and hand-picked by you, and it will be years before you have to renovate. But new home construction is also a complex process with a lot of moving pieces. It often involves numerous contractors and trades people, material orders from multiple suppliers and a steady stream of design and finishing choices that can impact deadlines and the final price tag. All of that can make the process stressful. But it doesn’t have to be. Here are five ways to take the worry out of building a home.

Hire a professional real estate agent

If you plan to focus your house search around visiting show homes, you might be tempted to go it alone. After all, there are sales agents on site to handle the paperwork, so you may wonder if it’s really necessary to have your own real estate agent. The answer is yes. That onsite agent works for the builder, aka the seller, and will be acting in the seller’s best interests. To level the playing field, you should have someone to act on your behalf. Your REALTORⓇ can help you negotiate free upgrades, watch for hidden fees and raise questions you may not think to ask. And a word of caution: many buyers think not having an agent will save them money because the commission savings will be passed on to them. That’s not the case – builders don’t offer discounted prices for you taking a pass on hiring your own agent.

Remember: location, location, location!

Where you buy can be almost as important as what you buy. Location matters. According to the RE/MAX 2019 Liveability Report, six out of 10 Canadians put easy access to shopping, dining and greenspaces on the top of their list when it comes to location. Liveability is about how enjoyable and convenient it is to live in an area. It’s important to keep that in mind when you start shopping around for a newly constructed home. There’s been a lot of new home construction in Halifax over the last few years and there are now several new communities to choose from.

Choose the right builder

Building your dream home is likely the one of the biggest investments you’ll ever make. You’ll want to be confident the project is in good hands. Before choosing a builder for your new home, be sure to thoroughly research several potential companies, get quotes and always hire a certified professional builder who you can be sure will abide by all the required codes and safety regulations. And once you choose a builder, make sure you get your final contract in writing so everyone is on the same page. With everything written down, you’ll have something to fall back on in case there’s a problem down the road with final costs, scope of work or deadlines.

4. Be realistic about the costs

One of the first questions people ask themselves when they’re considering a house purchase is, ”Is it cheaper to build or buy a house?” There’s no easy answer to that. But when it comes to new home construction, there are a few things to keep in mind. According to Home Builder Canada, the average cost of building a new home in Halifax is between $115 and $150 a square foot, so it doesn’t take long for that to add up. But building your own home gives you the chance to control the budget and make adjustments as the project proceeds.

RE/MAX nova agent Nas Klayme advises his clients to keep extra room in their budgets for customized features. “Because those are what will make the home a perfect fit for them, which is especially important in new construction.”

And if you’ve decided to build a home, the best time to do it is now. The cost of land and materials isn’t going down, and the sooner you build it the sooner you can start earning equity in your new home.

Protect your investment

When the deal is done and the house is built, getting a few final details right will ensure the process ends well. One important thing to do is get an inspection. Even though it’s a new build, you should arrange for a home inspection by a professional who can make sure everything is up to code and that nothing important has been missed. Also, working with a lawyer will ensure the closing process goes as smoothly as possible.