Read these 8 Miami Preconstruction and New Construction Homes Tips tips to make your life smarter, better, faster and wiser. Each tip is approved by our Editors and created by expert writers so great we call them Gurus. LifeTips is the place to go when you need to know about Miami Real Estate tips and hundreds of other topics.
Don't try to learn everything a contractor would know, but you must learn which codes require certification or proof of completion in order to secure financing from your lender.
You should pay as much attention to the main construction (foundation, framing, etc.) as you do to whether the granite countertop was properly installed.
Also make sure you are aware what documentation you need for closing. For instance new Miami home builders are required to get an elevation certificate to ensure that the property is at the right elevation above the flood plain. You may also need a Certificate of Occupancy at the closing to prove that building codes and minimum safety requirements are complete.
When you buy a new construction Miami home, you need to arm yourself with as much information as possible. This will ultimately protect you against any problems that may come up down the line, so it is in your best interest to get all of the following documentation before closing.
If you sign a contract to build a new construction Miami home, make sure you read it carefully. You should understand any penalties, all of your deliverables as the buyer and all of the deliverables owed by the builder. You should understand all of the costs, the process and the document itself. Just because you've signed the contract doesn't mean you have lost all of your rights to negotiate.
For instance, you should ensure you have recourse if the builder goes off schedule, doesn't complete items as promised or appears to be cutting corners. Projects like this rarely go as planned, so you should plan for how you will deal with any delays or problems.
Also, write everything down. After every conversation, change to the plan or additions to the contract, write everything down and then repeat it to your developer. Good communication and documentation are the keys to a successful new construction home project.
New construction and preconstruction homes pretty much come in two flavors: Your Lot and Your Design Vs. A Subdivision and Designs from Which You can Choose If you plan to build your own home on your own lot, here are the basic steps you need to take.
There are a lot of new homes in the Miami area from which to choose, but have you considered getting in before the Miami condo or Miami home is even completed?
Buying a Miami preconstruction condo or home can be a great solution to your needs. Why? Well, you can often get special pre-construction discounts or financing in the early days of a build. The developers are anxious to lock down each property to ensure their investment's viability.
Next, you get to choose fixtures, flooring, wall color and appliances. You can make your Miami condo or Miami home uniquely yours and you will be the first to use it all.
Finally, preconstruction Miami condos are a great investment. Many real estate investors will buy during the preconstruction phase and then immediately sell their unit for profit once all the other units are sold.
Miami preconstruction is a great option if you aren't in a hurry to move into your new home, you can secure a solid price and good financing and you seek the customization you couldn't get in a new or older Miami home.
When you are choosing your Miami developer or Miami builder, develop a list of questions to ask before you go in. You need to know about what you want and what you are or aren't willing to live without.
In many pre-planned communities in the South Florida area you will find homeowners associations. These associations create neighborhood guidelines that are there to protect home values and the look and feel of a neighborhood.
For instance they may regulate yard decorations, boat or unregistered vehicle storage, house paint colors and landscaping maintenance. To some this kind of management is intolerable, so make sure you get a complete record of the homeowners association guidelines before you commit to a preconstruction home in a given community.
If you aren't bothered by restrictions, make sure you keep the regulations on hand so you can avoid any problems. You will be required to sign these regulations at closing and you will be required to uphold them.
The Miami condo and housing market has been incredibly strong for several years now and the developers are working hard to continue to meet demand. This means that there are a lot of options for a homeowner looking for a new construction Miami condo or new construction Miami home.
Condos come in all shapes and sizes, from moderate to ultra-luxury. Homes are much the same and you have the added luxury of finding communities that are right for you, be they those of the older, retired set, or the jet set.
What are the benefits of buying new construction? Well, with the recent glut of hurricanes hitting the Florida and the other Gulf Coast and Atlantic states, new homes are up to date on hurricane resistant construction and codes. They will also typically involve less of an investment in upkeep or renovations for some time. Of course, you need to make sure you get a proper home inspection and you should make sure that the prices of the other homes in the area are on the rise. You don't want to buy high and sell low.
A new Miami condo or home can be a great investment with little or no hassle for you.
|Jennifer Mathes, Ph.D.|