LGI Homes New Home Buying FAQ (Frequently Asked Questions)

Buying a new construction home for the first time from LGI Homes can be stressful for any home buyer. We help numerous new construction home buyers every year. We have compiled a list of the most common and frequently asked questions we have received to help ease your mind about the homebuilding process. We work with all home builders in DFW and we can help you find and negotiate the best discounts, home rebates and free upgrades on LGI Homes DFW for sale in Dallas, Fort Worth and surrounding areas. Still have questions? Feel free to reach out to us at 469-269-6541.

Note: Nitin Gupta, REALTOR and Competitive Edge Realty, LLC are not affiliated with LGI HOMES. The builder information on this page is believed to be accurate and current. Please contact the builder directly for any specific questions about their communities, models, pricing, availability & incentives.

new construction builder homes faq texas

How long do new build homes built by LGI Homes take?

Average time it takes to build a home with LGI Homes depends on the demand. According to the 2019 Survey of Construction from the Census Bureau, the average completion time of a single-family home is around seven months.

Is the earnest money refundable if I choose not to buy the home from LGI Homes after signing the contract?

Since the earnest money is just to secure the lot, it is typically refundable up until construction has started on the new home during the financing period. Once construction starts on the new home, the earnest money is typically non-refundable. Make sure that you understand the terms about this from the builder before signing the contract.

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How can I maximize the incentives and discounts offered by LGI Homes?

LGI Homes offers incentives and discounts to buyers throughout the year. Please contact us to get tips about how to maximize the incentives and discounts offered by LGI Homes. For more information on current LGI Homes new construction home builder incentives, inventory and floor plan options, call/text one of our DFW new home specialists at 469-269-6541.

Where can I search LGI Homes communities, floor plans, pricing, upgrades & incentives?

You can search various LGI Homes homes at our new home search portal here.

SEARCH DFW HOMES BY BUILDER & COMMUNITY HERE

Can I get a discount from LGI Homes if I do not have a real estate agent representing me?

Builders do not reduce the price home of the home or offer incentives to buyers if buyers are not represented by a real estate agent.

How can I learn more about latest LGI Homes promotions available to new construction home buyers?

Promotions offered by LGI Homes change throughout the year. Contact us for the latest promotions offered to our clients.

Does LGI Homes negotiate with new home buyers?

Purchasing a new construction home from LGI Homes always involves negotiations. An experienced REALTOR representing you can help you negotiate and save you money.

Is there an option period when buying a new construction home from LGI Homes?

Unlike resale, there is no official option period. A new construction home buyer can select options for their home anytime between when they reserve the lot and when construction commences. Once construction starts and the earnest money is non-refundable, the “option period” ends.

Is it cheaper to buy a new construction home that is ready to move-in or a Spec home with LGI Homes or build it from scratch?

Builders are usually highly motivated to sell the homes that have been built based on the builder's selections. These homes are called Spec homes and buyers can usually get a good deal on these homes.

Do I have to use the builder’s lender i.e. LGI Homes' preferred lender?

The builder typically has a few preferred mortgage lenders that can provide you the full approval needed to build the home. While it is not required to obtain financing from the mortgage companies provided by the builder, typically, the builder will provide closing cost assistance, and in some cases, pay all of your closing costs if you use their trusted recommendations.

Can I view Virtual Tours from LGI Homes for new construction homes sold by them?

You can watch virtual tours of LGI Homes on our YouTube channel here.

What kind of LGI Homes design center options are available to new construction home buyers?

Some of the options available to buyers at the design center are:

-Paint

- Countertops

- Flooring

- Lighting fixtures

- Appliances

- Wall tiles

Do I need an inspection when buying a new construction home from LGI Homes?

The builder - LGI Homes - will be inspecting your home at each stage during the building process. When construction is complete, the builder will then walk through the home with you and your agent (if you chose to use an agent). During the walk-through, you and your agent can point out problems with the home that need to be repaired prior to closing. The builder will then fix up those issues. If you would like to use a 3rd party inspector to survey the property, you are more than welcome to do so. We can provide you a list of trusted 3rd party inspectors if you wish to go that route.

Are LGI homes energy efficient?

LGI Homes builds green star compliant homes. According to the EPA, new homes are typically up to 30% more efficient than older homes, which translates into significant savings for you on monthly utility costs. On our LGI Homes Reviews site, you can read more about how LGI Homes owners have benefitted from these savings.

Are there any good reviews for LGI Homes?

You can find reviews of LGI Homes all over the web. The reviews may vary from community to community and from city to city. You tend to see more negative reviews online as customers with bad experiences usually are more motivated to leave reviews online compared to customers who are happy. You will see the reviews for sales managers and project managers in various communities. One good way to find out more about a builder in a community is to talk to the residents in a community in-person.

How long does it take LGI Homes to build a home?

It can take anywhere from about five months to eight months for LGI Homes to build a new construction home. It takes about five months to build a 3,000-square-foot home.

Can the time taken by LGI Homes to build a home vary?

The length of time can vary depending on (1) pre-planning; (2) the amount of customization involved in the build; and (3) weather.

Is 2021 a good time to buy a house from LGI Homes?

Economists say that 2021 will be a positive year for the housing market due to economic conditions and low mortgage rates.

Can I negotiate with LGI Homes when buying a new construction home in DFW?

Yes, you can negotiate with LGI Homes when you are buying a new construction home from LGI Homes. Typical items include upgrades provided, lot premium, sales price, closing costs paid by the builder etc.

Will LGI Homes build on your lot?

It depends on where you want to build. Please contact us so that we can help you get more information.

How many homes does LGI Homes build a year?

LGI Homes has been building homes for Families for Over 70 Years. Founded in 1948, LGI Homes has built more than 450,000 homes. That expertise goes into every home they build.

Are LGI Homes good quality?

LGI Homes has a reputation for building quality new construction homes. Their satisfied homeowners give them high ratings for their beautiful floor plans and affordable upgrades, their skilled craftsmanship, and commitment to customer service on each house they build.

What is the difference between a pre-sale and a spec home?

Speculation (Spec) homes are pre-selected by the LGI Homes staff. All structural selections have been made internally and cannot be adjusted by a buyer, due to permitting production already taking place. However, depending on how far along the home is in production, there are often still many options available for buyers. If purchased early enough in the production process, some selections may still be available. One of the largest pros to purchasing a spec home is a shorter closing date. For specific cut-off dates, please discuss this with us.

Pre-sale homes allow a buyer to select the lot, the floor plan of choice, and all structural options for that home. A pre-sale contract also will have the ability to really personalize their home during the meeting with the Design Center experts, as well as at their separate flooring and countertop meeting.

Does LGI Homes have HOA fees?

Most LGI Homes communities have HOA fees, which can vary from $50 to $150 per month depending on the amenities offered in the community.

Who pays closing costs for a new construction home bought from LGI Homes?

In Texas, the closing fee is shared between the buyer and seller.

Does LGI Homes offer contracts that are contingent upon other factors?

A contingency contract or clause defines a requirement that must be fulfilled in order for a real estate contract to become binding. Under certain circumstances LGI Homes may accept a contingency contract that is dependent on the sale and/or closing of another property and will benefit both the buyer and seller.

What can I expect at my first appointment with a LGI Homes New Home Specialist?

At your first meeting the LGI Homes sales manager will go over your wish list, locations, floor plans, and any questions you may have. The sales manager will discuss your needs and budget to begin working on a construction proposal.

Is the homesite or lot included in the sales price offered by LGI Homes?

Short answer: Yes! A standard homesite is included in the purchase of your new home. However, if you would like a larger, tree-lined, lake view, cul-de-sac homesite, those homesites will have a lot premium. Other homesites in a community might require certain structural elements, which will be reflected with lot premiums.

What does “homesite premium” mean?

LGI Homes offers premium options for those who want a larger homesite or one that is situated in a more desirable area of the community. For example, if you wish to live in a LGI Homes community with a golf course and own a home on the course, you might pay more for that desirable homesite or lot. The same applies for the purchase of a larger homesite (property).

What can I expect during the construction process with LGI Homes?

Al the builders want the experience of building your home to be enjoyable which is why they have developed a customer contact process to help keep you informed throughout the construction of your new home.

The builder's team oversees all the details of your new home construction and is available throughout the building process to answer questions and keep you updated. Your primary contact during the construction process is the sales manager with LGI Homes and your real estate agent. Your sales manager will be in touch with you throughout the process and they will be there to guide you and answer all of your questions during several meetings and checkpoints.

How can I find information on the activities, businesses, schools, and things to do in LGI Homes community I am buying the home in?

LGI Homes determines the location of new communities based on the proximity to transportation, recreation, schools, and other community amenities. Once you find the community you’re most interested in, you can contact the sales manager you are working with, use Google to view local attractions, community resources and other places of interest, including:

• School and University Ratings
• Downtown Area
• Restaurants and Retail
• Entertainment and Recreation
• City Parks
• Hospitals

You can also contact your real estate agent for these details.

How much should I expect to pay in property taxes for a LGI Homes home?

Rates of property taxes and property assessments are controlled by each county and vary significantly. Most county tax collector websites have a property tax calculator that can be used to find the estimated taxes on your home. If you’d rather work directly with a professional, your LGI Homes New Home Sales Manager or lender can also provide you with a property tax estimate based on your location and home purchase price.

What if I have an existing house to sell when I buying a new construction home with LGI Homes?

What is included in a LGI Homes home?

The purchase price to build your new home includes "sticks and bricks" (such as concrete, lumber, drywall, etc.) as well as the variables (flooring, cabinets, exterior materials, etc.) that you will select during the construction process. Washer, Dryer, and Refrigerator are not provided by the builders in Texas.

Can you negotiate upgrades on a new home from LGI Homes?

Yes. Choose a cheaper lot if you want to save some money when buying a home from LGI Homes. The lower the builder's costs, the more room there is to negotiate upgrades on your new construction. The cost of labor and materials generally won't change much, but if you build on a less expensive lot, you should be able to convince LGI Homes to roll those savings into some upgrades for you

Do new construction homes from LGI Homes come with appliances?

All LGI Homes in Texas come with an Oven, Stove, Dishwasher, & Microwave. You're on your own when it comes to the fridge, washer and dryer As a buyer you will be presented with a few options.

How much are closing costs on a new construction home from LGI Homes?

While closing costs vary depending on the total amount of the property transaction, and which state you make the home purchase, they normally range between 2% and 5% of the total property sales price

What upgrades to ask for in a new house from LGI Homes?

Here are New Construction Upgrades that Add Value when buying a home from LGI Homes.

Wood floors. Generally, carpet comes standard everywhere except for the kitchen, bathrooms, entryway and hallways.
Roughed-in plumbing.
Electrical.
Master bathroom tilework.
Appliances.
Lighting.

Here is a list of upgrades usually offered: (subject to change and vary between locations)

Ceiling fans
Additional outlets
Space-saver microwave
Upgraded Kitchen appliances
Garage door windows
Extended concrete patio
Deck upgrade
Paint upgrade (two-tone paint)
Gas fireplace
Fireplace mantle upgrade
Kitchen stove gas line
Gas range/oven upgrade
Hardwood flooring

Granite countertops
Tile or slate upgrade
Tile size upgrade
Tile kitchen backsplash upgrade
Hardwood flooring upgrade
Carpet upgrade
Stair railing upgrade
Hardware upgrade
Tankless water heater upgrade
Air conditioning
Front and rear landscaping

What should you not skimp on when building a house with LGI Homes?

When buying a home from LGI Homes, splurge only on those things you truly cannot live without. However, don't skimp on structural components or doors and windows — for the safety and security of your home, you'll want to purchase the best you can afford in these areas.

Is it harder to get a mortgage on a new construction home from LGI Homes?

No, you should shop around for the best interest rate and terms.

What should you not upgrade when building a house with LGI Homes?

Here are New Construction Upgrades to Avoid:

Appliances. If some appliances aren't included with the house, you may be better off buying them yourself.
Lighting. Typically, the lighting that comes standard from builders is just that — standard.
Cabinet hardware.
Kitchen backsplash.
Outdoor space.
Outdoor kitchen

Does LGI offer a warranty on their homes?

All LGI homes include a 10-year structural, two-year mechanical and one-year functional warranty. At contract, you will receive details of the items covered under these warranties. If a warrantable item in your home needs attention, we strive to resolve all warranty requests within seven business days when possible.

How much are closing costs on a new construction home sold by LGI Homes?

While closing costs vary depending on the total amount of the property transaction, and which state you make the home purchase, they normally range between 2% and 5% of the total property sales price

How much does it cost to build a new home with LGI Homes?

LGI Homes requires a small percentage of the purchase price, called earnest money, at the time of contract. This is a good faith deposit that starts the process of building your home. This money is applied and credited towards your closing costs or sales price when you close on your new home. Home prices vary with location, cost of materials, etc. LGI Homes can assist you with closing costs and their preferred lenders offer great incentives as well.

Should I purchase a move-in ready home from LGI Homes or build from the ground up?

There are many benefits to each option, depending on your individual preferences and timeframe. Move-in ready homes offer the ability to move in quickly and start enjoying your new home. This can be helpful during time of COVID as it allows you to move into your new home faster. Building from the ground up offers you the ability to select your home site, plan, and options for your new home. You can customize your new home and configure it based on your needs.

How much do homes built by LGI Homes cost per square foot?

There is no standard “price per square feet”, since the price of a home depends on so many factors including the topography of the lot, size of the home (one level or two), interior finishes, features, CC&R requirements, and various permit and impact fees. Once LGI Homes has a good idea of what you want, they can give you a ballpark cost estimate.

What happens if after I’ve signed my contract with LGI Homes and my home is under construction I change my mind about a feature, finish, or some aspect of the layout?

This can result in a change order. They usually involve additional cost, which you will be expected to pay before they are acted upon. But sometimes they result in cost savings, which will be credited back to you.

Will LGI Homes modify a home plan that I like…either one of their plans or another one I’ve found myself?

The design team from LGI Homes will collaborate with you to create the perfect plan for your family and lifestyle while staying within your budget. They will offer you a number of plans that have been approved for the community. In some cases, they may allow you to build a home based on your custom home.

Can I build a LGI Homes property on my own land?

LGI Homes does not build on privately owned land. Most builders focus on building homes in planned communities that provide the best experience for the homeowners and contribute to increasing home values.

Do builders like LGI Homes pay closing costs?

Buyers pay most of the costs associated with closing on a home with LGI Homes because so many of the costs are tied to the mortgage process. ... If you are buying new home construction, many builders including LGI Homes will offer incentives to offset these fees and costs if you are willing to use their in-house lender