Building a Home

Working with Colleen Murphy and Danny Persad, Realtors, to buy your Central Florida new construction home has many important benefits! You will have your own Realtor representative to protect your interests throughout the building process. With all of the builder incentives available in today's buyers' market, why wait? Take advantage of the benefit of working with Realtors experienced in selling new construction homes – BUILDERS DO NOT CHARGE BUYERS MORE IF THEY BRING A REALTOR TO REPRESENT YOUR INTERESTS!

However, it is very important that we accompany you on your first trip to the builder sales office or model home to register you in order for us to be able to work with you. With current buyers' market conditions, many builders are offering additional Realtor incentives at closing. As part of our commitment to our business, you can take advantage of an after closing Realtor rebate of up to $1,000!! Contact us by email or phone and mention the "HouseStork New Construction Realtor Rebate" program. New business only please, pending contracts are not eligible.

Click here to search for New Construction Homes

Click here to contact us for more information on your new home rebate!

Tips for Purchasing New Construction Homes

• Have your own agent!  Believing you may get a better deal or from lack of information, many buyers use the developer’s sales agent to represent them.  Remember, builders require that your agent accompany you on your first visit to the sales center.
• Ask how much is this home as we see it – Models can be filled with every upgrade the builder offers as an example. 
• Pick the right builder – ask for references, do your own investigation as far as previous projects, length in business and any filed complaints.
• Consider resale characteristics – The allure of being the first to occupy a home sometimes clouds a secondary location or poor craftsmanship.  Consider a resale home in a primary location before signing on the line just because it’s new construction. 
• Question percent of project sold – Developers love to promote the sell-through of projects.  Inquire how much of the percent sold are reservations (dating the project) versus contracts (engaged to the project).  Some reservations don’t go to contract because of a change of heart, financial concerns or occupancy timelines.
• Investigate property taxes independently – Property taxes can be a financial surprise you weren’t expecting with the purchase of a home.  Because tax assessors haven’t valued a home or project, developers can underestimate how much the property taxes will be. Complete your own due diligence and call the local taxing authority to find out the worst-case scenario.
• Perform a home inspection – Never skip or waive the right to an inspection, the benefits far outweigh the costs and could save you numerous headaches and expenses later.  New construction is not immune from defects and lackluster workmanship.  Hire a professional, not Uncle Joe.  Perform the inspection at least 7 days prior to closing.
• Inquire about investor purchased units – In the post-real-estate-bubble-world, many developer contracts restrict purchase of units that require by speculators to flip at completion.  Look for clauses in contracts that require purchasers of units to owner-occupy the first 12 months after closing.  Ask sales agents what the percentage of owner occupancy is for the project.
• Get a certificate of occupancy. Local municipalities issue a certificate of occupancy after a unit has passed all building code inspections. Most mortgage lenders require a certificate of occupancy before they will close on a loan. If you are paying cash, verify prior to closing that the developer will deliver you a certificate.
• Understand why developers request upgrades paid for in advance. Experience has taught developers that some buyers will not purchase the unit which they have specified the floor-coverings, countertops and kitchen cabinets, that have been installed by the developer. Other buyers will want to select their own finishes and a unit that has preselected finishes by a terminated buyer is a marketing problem for developers. Plan on paying upfront for all upgrades and changes you make to a unit, and if you decide to walk from the project once you have paid for upgrades, expect a fight from the developer if you want a refund on installed changes and upgrades.
• Require your deposits to go into an escrow account. Require all deposits and payments you make go into an escrow account, not the developers business account. Research state brokerage laws to discover what regulations developers must follow with buyers funds. If disputes arise it is easier to receive refunds from a neutral third-party or escrow agent than from a developer.
• Request copies of blueprints, floor plans and surveys. It's easy to forget to get clean copies of blueprints and floor plans of your new home with all the activity and decisions during the construction process. In the future when you want to make changes or sell, having the footprint of your home will save you expense and time. Make sure the developer provides you with an updated survey, showing just your parcel. Verify that your new home also has it's own parcel identification number issued by taxing authorities.
• Research warranties on structure, finishes and appliances. Developers typically offer five or ten year warranties on structural elements of a home and rely on manufacturers warranties for appliances, furnaces, windows and overhead garage doors. Beware of one-year warranties on structural elements.

DO NOT!!

• Forget to ask for holdbacks on unfinished work. Weather or material supply problems can interrupt completion of a home. If some items aren't necessary for occupancy the developer will want to close on your home. Make sure any substantial items or features that are not completed in your new home, have designated funds set aside for their installation or completion. Request these funds be held back and deposited in an escrow account at closing.
• Omit final written punch lists. You should have a final walk-through at least three days before closing on your new home. Create a punch list of all uncompleted or unfinished items. Punch lists can also call attention to items that need to be repainted or need additional attention. Both the developer and the buyers should sign the final punch list in agreement. Developers should complete punch lists within 30 days of closing.
• Tune out during construction process. Family, work or distance can shift your focus away from closely monitoring the construction and completion of your new home. Proactive buyers can catch design mistakes or irregular materials by visiting the job site on a regular basis. For insurance purposes some developers limit access to construction sites. Stipulate in purchase contracts the timing of all visits during construction of your new home.
• Be fooled by low assessments. Developers can use artificially low monthly homeowner assessments in new construction marketing materials. Plan on at least a twenty-five percent increase in assessments the first year after the developer delivers the association to the homeowners.
• Overlook costs between standard and upgraded features. There can be a large difference in quality and useful life spans between builder grade and upgraded finishes and fixtures. It could be worth the additional expense to install better carpet, cabinets and faucets. Cross-check builder prices for upgrades at your local home center.
• Ignore developer incentives as a signal of slow sales. Free condominium assessments, stainless appliances and plasma tvs are thrown in to induce buyers to write contracts to purchase. What many buyers think are a freebie are actually signals that a development is slow to sell from increased competition of a lack of buyers. Incentives are a band-aid for a languishing development.
• Be surprised when developer holds firm on pricing. Developers of popular projects don't typically negotiate on unit prices. However sometimes a developer will throw in upgraded appliances or hardwood floors in place of standard carpet. When a developer doesn't move on prices it is because they have a investment formula for the project, which is typically costs plus twenty percent profit.
• Disregard risks of buying pre-construction. Pre-construction pricing can attract value-driven buyers. There is some risk entering into a project before it has started. Verify that the developer has received a green light from local building authorities and has a proven track record of timely completion in the community.
• Postpone discovering costs of construction loans. Variables beyond a developers control can prolong the completion of your home. Have contingency plans for cost overruns, temporary housing and bridge loans. Investigate rate-lock expiration dates on mortgages, construction or temporary loans.