It's easy to fall in love with new construction. Everything is shiny and new. But beware. Not all new homes are created equal.
Here are some tips to help you make a smart decision when buying new construction on Chicago's North Shore.
First off, recognize that here on the North Shore virtually all new construction is infill, meaning that an old house was probably torn down to build the new one, because there just is not vacant land sitting around waiting to be developed. So you won't be walking into a sales center at a development to pick out the model of home you want. Most likely, the builder will have a single house listed for sale and it will be somewhere along in the construction process when you see it. If you buy it early in the process, you'll be able to pick out some of the finishes. If you buy it when it's complete, you won't.
1. Check the builder's reputation. The first thing you'll want to do when you're considering buying a home from a builder is to dig into his reputation. Talk to people who have purchased homes from him and have lived there long enough to discover if there are any problems with the house. These days there's a pretty limited number of builders who have successfully made it through the recession and are still building. It shouldn't be hard to find out about a builder's reputation by asking a Realtor who is experienced in new construction.
2. Consider resale value. Don't be so taken with the idea of having a brand new house that you overlook a bad location or poor craftsmanship. During the real estate boom builders were buying up land on busy streets or next to the train tracks or commercial buildings, and people were buying whatever they built. Now, those same people are having trouble selling.
3. Work with a Realtor who specializes in new construction. She will be familiar with all of the builders in the area and their reputations. She understands the new construction process and can guide you in your decisions all along the way. She has probably been in the house at various stages in the construction and knows what's behind the walls. She can tell you about all the things that are not visible but which determine the quality of the end-product you are buying.
We are North Shore Chicago real estate specialists and one of the top teams in the area. If you would like to schedule a buyer or seller consultation with the Come Home North Shore team, please call 847-881-6657 or send us a note here.
Are you relocating to Chicago's North Shore? We'd love to familiarize you with the area and help you find the perfect home for your family. Ask me about our "Tour of the Shore." Whether you're looking for new construction or an existing home, we'd be happy to guide you through the process.