One of the nice things about new construction is the ability to alter features with upgrades. This can get complicated if not coordinated properly. The new construction upgrade selection tips in this blog should help diminish any confusion.
Find Out About Any Deadlines
Houses are built according to a set schedule. Progression typically happen in a specific sequence. The adding of upgrades must comply with that building process. Be aware of the deadlines for making decisions on potential upgrades. Deciding too late will make them impossible or increase the cost. For example, the best time to pre-wire for sound systems is before the drywall is hung.
Know What Options Are Available
Most companies will hand you a predetermined list of standard upgrades. Although not documented, additional changes may be permitted if you ask (this ultimately depends on the builder). You will need to provide precise descriptions of requests to get correct pricing. Upgrades outside of the provided list can make your property unique.
Make Modifications in Writing
When adding upgrades, it is important to document them. This keeps everyone informed. Be as unambiguous as possible in your notation of the upgrade. For instance, note manufacturers and part descriptions where available.
Tell Your Lender About Changes
If you are financing the house, you may opt to add the cost of upgrades into your home loan. First and foremost, find out if this is permitted because it will add to the loan value. Many builders require that you pay for upgrades in advance, but the lender can count it as another deposit when calculating money due upon closing. Any alterations to your loan must be evaluated and signed off by the lender before the mortgage is approved, so be sure to inform them ahead of time. Last minute modifications may delay the closing timeframe.
Additional New Construction Upgrade Selection Tips
As with any step in the home purchase transaction, documentation and deadlines are particularly important when it comes to new construction. Selecting a great real estate broker and mortgage company is important too. Open communication between all parties can make things less. For further new construction upgrade selection tips, contact Eric Stier at Brentwood Construction & Remodeling.
