Tips on Buying Orlando New Construction Homes
Buying Orlando New Construction Homes
Buying Orlando new construction home can be complex, so it is best to know how it all works before you start looking. Buying Orlando New Construction is very different from the resale market and not having an experienced buyers broker at your side, may effect your wallet.
First you need to consider the areas where these Orlando new construction single family homes are being built. Production builders are concentrating on areas with vacant land left which is predominantly Southeast Orlando, Southwest Orlando and Apopka to name a few. There is new construction building occurring in Lake, Polk and Osceola County, and pockets of Orlando. Most Orlando New Construction Homes are being built 15-30 miles from downtown Orlando. Not all new construction homes are in MLS so call Buyers Broker of Florida to learn who is building where.
Production Homes vs. Custom Homes
Orlando new construction homes offer more energy efficiency, no immediate repairs, functional floor plans and of course move in ready. Even a home warranty after closing. If you are budget minded, your best bet is to focus on production builders, as they offer the best pricing and predictable build times. Every production builder has a different strategy whether its no frills but affordable, to more energy efficient options or more design options.
Building custom homes is more prevalent in the luxury market. The pocket areas to buy vacant land to build may not be in desirable areas, with more risk both in land preparation and final price unpredictability. In addition, vacant lots must be bought with cash, where as with production builders you need less cash to invest since the builder already owns the lot.
The builders have 2 types of Orlando new construction homes to buy.
1) Pick a lot and select a floor plan. Then selection of colors, cabinets etc. and special customization. Build completion time of an Orlando New Construction Home is about 6-9 months from contract signing. Not all lots are great and sometimes the lot with the highest premium is not necessarily the best lot. We know and can help with that.
2) Buy an inventory homes. This is a home that is already being built where the builder has already pre-selected the colors and home options. The benefit here is a faster closing 1-3 months, plus you have a complete price upfront that may be somewhat negotiable.
There are 3 fees that make up the total purchase price when you build an Orlando new construction home:
- Base Price (includes standard features.
- Lot premium (varies based on location of the lot within the community)
- Optional Upgrades (these are additional home design selections you can make at an additional expense to further customize).
Builders advertise “base price” of a home, so the final price will be more…ask us for details.
Get pre-qualified for financing before you start searching for an Orlando New Construction home. It is best to figure out your home buying budget before the home search. In Florida, the time frame for financing contingencies on Orlando New Construction Homes are short, so it is in your best interest to be prepared.
Builders offer money toward your closing costs if you use their preferred lender, however, these may or may not be competitive rates or the best lenders fees. Comparison shopping we can help you with.
Visiting the New Construction Communities
All the builders prefer that you bring your buyers agent to your first visit. There is no discount if you go along and more than likely without our help, you will not get the best pricing. Builders will all pay the Buyer Agents fee and their knowledge and experience will be helpful as the choices you will need to make can be confusing.
New Construction Buyers Agent Services
Buyers Agents know who is building what and where and can find the builders that will best fit your needs. Whether you need a specific budget, good schools, a quick move in, lots of amenities, lake or golf course views, we can help. We can compare and contrast communities, review contracts, show you the best buys, negotiate, assist with new construction inspections, and attend walk thru. We also assist with financing, insurance, liaise or mitigate any unexpected events with the builder on your behalf. We are there every step of the way. All this help at no cost to you.
Smart New Construction home buyers always rely on their personal buyers agent. Call us 407-539-1053