Critical Questions to Ask When Buying New Construction Home in Lake Dallas
Question to ask when buying a new house in Texas in Lake Dallas
Questions To Ask Before Buying A New Construction Property in Lake Dallas
Owning a brand new home in Lake Dallas is very appealing to home buyers. The thought of being able to pick all your own finishes including countertops, flooring, cabinets, paint color is very exciting. Pristine appliances, every detail exactly to your taste, ding-free walls, no weird former owner — the appeal of buying new construction in Texas is pretty obvious.
Ask prospective new home builders in Lake Dallas these questions in order to find the right home at the right price.
How long will building take?
Find out the expected time to complete the construction of the new home in Lake Dallas. The time required to build a home depends on the size of the home, time of year and time needed to get permits from the city of Lake Dallas.
Are there any differences in cost for the lots?
Some lots may have a lot premium if they are bigger in size, back up to a green belt, located on a cul-de-sac or have other desired characteristics. In addition, some builders in Lake Dallas may charge you a premium for lots that face North or East.
How much are the annual property taxes in Lake Dallas?
Property taxes can vary from city to city in Texas. They also depend on the school district and city the home is located in. E.g. property taxes in Texas can vary from 2% to over 3% of the appraised value each year.
Is there a MUD or a PID?
Some homes in newer communities in Lake Dallas may be located in a MUD or a PID. These result in additional taxes which can be significant. Learn more here
What are the standard features in the new homes in Lake Dallas and what are the extras?
It is important to find out the standard features offered by a new home builder in Lake Dallas in a home and to understand which features are an upgrade. Model homes can have upward to $100,000 worth of upgrades. So do not assume that you will get the same home as the model home for the base price offered by the builder.
When are extras paid?
Find out when the money for any upgrades is due to the new home builder in Lake Dallas. Most builders require a percentage of the cost of the upgrades to be paid at the time of picking up the upgrades in the design center.
Is landscaping included?
Find out if landscaping of the home including sod/grass and sprinkler system is included in the cost of the home.
Can appliances be up or down graded?
Some builders may allow you to pick better appliances or pick lower cost appliances. Discuss this with the Lake Dallas new home builder and learn out your options upfront.
What kind of customization will you allow in the structure of the home?
Every new home builder in Lake Dallas offers a different level of customization as far as structural options are concerned. E.g. some may allow you to change the size of a room while other may only allow you to add or remove a room.
Do you only build from existing floor plans, or can I provide my own set of plans?
Find out if you can provide your own home plan to the builder to be constructed. Most production builders in Lake Dallas will only allow you to pick a plan from a number of plans they offer for a particular community.
Who will be overseeing the construction of my new home in Lake Dallas? Who can I reach out to with questions as they arise, and how can I contact them?
Find out who will supervise the construction of your home and how the communication will happen after the construction starts.
Can I get a home inspection upon completion?
Find out if you can hire an independent inspector to inspect the home before closing. Builders may have restrictions on what kind of inspection is allowed or may have specific requirements for inspectors who will be allowed to inspect the home.
Is the home in a flood zone or prone to other natural disasters?
Find out if the new home in Lake Dallas is in a flood zone as homes with require a flood insurance to be purchased by the lender. Learn more about flood insurance in Texas here.
What financial incentives do you offer for using your preferred lender and title company?
Find out if the new construction builder in Lake Dallas is offering any incentives to the new home buyers in Lake Dallas for using builder's preferred lender. This may include closing cost credit or additional free upgrades.
What are your long-term plans for the community?
Find out how many homes are going to be built overall, the amenities that will be added in future and kind of additional housing that will be added. E.g. high density housing like condos may impact homes values in the neighborhood.
What are the homeowners association rules and regulations?
Each homeowners association (HOA) in Lake Dallas has its own Declaration of Covenants, Conditions, and Restrictions (CC&Rs) and bylaws. Get these from the new home builder in Lake Dallas and review them carefully.
E.g. , some HOAs may not allow storage sheds in the backyard, solar panels, or private fences in Lake Dallas.
In most cases, the HOA can assess a homeowner significant penalties for infractions, and some associations are more restrictive than others.
What warranties do you provide?
Most new home builders in Lake Dallas offer a one-year workmanship warranty, 2-year mechanical warranty and a 10-year structural warranty in Texas. Make sure the warranties you receive explicitly state what is and isn’t covered, and what the limitations are for damages.
You should also receive manufacturer’s warranties on hot water heater, air conditioner, kitchen appliances, and roof.
Can you connect me with some of your past clients?
Get some references of past clients who have built a home with the builder. Your REALTOR can also provide you more information about the reputation of the builder.
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Buying a New Home in Lake Dallas is Easy!
The most important thing you need to know about buying a new home from a builder in Lake Dallas is that it can be an easy process if you have the right team behind you which includes a top Lake Dallas real estate agent.
It’s important to set a budget, figure out what kind of home you’re looking for, and then go into the process ready to make a deal.
If you’re considering buying a new construction property in Lake Dallas, Texas, then make sure you’re ready to act fast and take advantage of the hot property market before it starts to cool down.
Consider your options, look for the right real estate team to help you make the move, and get creative with how you’re preparing and presenting your offers.
Ready to buy a new construction home in Lake Dallas? Reach out today and we are ready to help!