What is Your Dream Home?
Step 2: Going Shopping
If you look at more than a few homes, they can quickly become a blur. To help
keep track, refer to your list of priorities and make notes of which of your
desired features are in each house. It is easiest to do this on the listing sheets
that agents often provide for you, which can include a photo and certain
information regarding the property. Afterwards, compile a worksheet based on
your priorities and give each house a rating.
Pay Attention to the Details
Once you have begun to narrow down specific properties, go beyond the surface
appearance and look carefully at each house. Be sure to examine the physical
details and construction. Particular details about a home may be available in a
residential property disclosure form, if the seller has completed one. This
form is a questionnaire that gives you an overview of the physical history and
condition of the property according to the seller’s knowledge. The listing agent
presents the form to the seller, who should complete it truthfully. It then becomes
a part of the file on that particular property. Ask your real estate professional
for a copy. As you progress through the home buying process you may also
want to consider having a
home inspection conducted by a professional third
party (see page 19).
New Construction
Building a new home presents its own
set of complications. First, you must find
a reputable builder who is involved in an
area where you would like to live. Then
you must evaluate various lots within the
development and select a floor plan
which suits your needs. Frequently the
builder will have its own financing
package, which you will want to compare
against other mortgages from various
lenders. If the home comes with a
warranty, be sure to read it carefully and
note what is covered and for how long.
Consider having the
home inspected by
a professional third party (see page 19).
It is very important to find out what is included with the basic home and what
is considered an upgrade. Don’t assume that all you see in the builder’s model
is standard. Most builders offer a wide range of options from doors and windows
to flooring to countertops and fixtures.
15
Find a Builder
If you would like more
information on new
construction, visit the New
Jersey Department of
Community Affairs at
www.state.nj.us/dca/
(where you can access a list
of registered New Jersey
home builders and find
information regarding the
state’s New Home Warranty
Program).