Building A Home - New Construction Tips

Top 5 Building Tips For New Construction

Building a home from the ground up is not as hard as it seems. With the right production builder or semi-custom builder, new homes can be built in any price range.  

1. Research the Builder.  You want to be sure the builder will be around before, during and after your home is complete. A quick Google search or word of mouth is a great way to find information.

2. Research the Subdivision.  You will want to be sure there is active building in the community you choose. It is a bad sign when construction has stopped or homes are left unfinished.

3. Earnest Money and Option Deposits. Ask upfront how much the builder requires as Earnest Money and for additional Options you may choose.  This will help you understand your budget and how much out of pocket money you will need.

4. Refundable or Non-Refundable Deposits. Ask upfront whether or not your deposits are refundable or non-refundable.  Most builders will keep deposits once construction is started even if your circumstances or job situation changes.

5. Reliable Realtor. Always get representation from your own Real Estate Agent! Any on-site agents  you may speak with only represent the builder. Although they are knowledgeable about their product, you should have someone looking out for your best interests.

Sheri Super is a licensed Realtor in Knoxville, TN.  Sheri is a New Construction Specialist having worked with Knoxville's largest builder for 6 years. A Multi Million Dollar Producer, Sheri currently works for REMAX Preferred Properties.  http://www.KnoxvilleSuperAgent.com  865-218-1115 CONTACT SHERI TODAY!  

HOME BUYERS

BUYERS CONTACT ME TODAY! Knoxville Super Agent - Sheri Super 865-274-3899. http://www.knoxvillesuperagent.com

http://www.knoxvillesuperagent.com/a_14260-CONTACT_ME_.html

Are you a first-time homebuyer eager to get into the market? Here are steps to take to help you decide whether you're ready to take the plunge.

1. Check the selling prices of comparable homes in your area. 

2. Use Mortgage Calculator

3. Find out what your total monthly housing cost would be

4. Find out how much you'll likely pay in closing costs. The upfront cost of settling on your home shouldn't be overlooked. Closing costs include origination fees charged by the lender, title and settlement fees, taxes and prepaid items like homeowners insurance or homeowners' association fees.

5. Look at your budget and determine how a house fits into it. Fannie Mae recommends that buyers spend no more than 28 percent of their income on housing costs. Go much past 30 percent and you risk becoming house poor.

6. Talk to a reputable Realtor in your area about the real estate climate. Do they believe prices will continue falling or do they think your area has hit bottom or will rise soon?

1. Examine your credit. Right now, blemished credit or the inability to make substantial down payment can put the kibosh on your homeownership plans. That's why it pays to look at your creditworthiness early in the home-buying process. Credit Report and comb through it for errors and unresolved issues. If you find mistakes, contact the credit reporting bureau to make sure they are corrected. It's also a good idea to get your FICO score, which will cost you a small fee.

2. Get your docs in a row. Collect pay stubs, bank account statements, W-2s, tax returns for the last two years, statements from current loans and credit lines, and names and addresses of your landlords for the past two years. Have them ready to show to the lender. This may seem like a lot, but in this age of tight credit, don't be surprised if your lender needs a lot in the way of documentation.

3. Find lenders and get preapproved. Getting preapproved for a mortgage helps you bargain from a position of strength when you are house hunting.

Knoxville Home Search - Find your Homes Value - Sell Your Home

Sheri Super Knoxville Super Agent -865-274-3899- www.knoxvillesuperagent.com - Realtor-Listing your Home with an experienced Realtor-Find your homne value.  Call Today!  No obligation! Free Home l Analysis! 865-274-3899. As Heard on TN Sports Radio!  www.knoxvillesuperagent.com  Listing Specialists Available Now! 

Average price per square foot for Knoxville TN was $76, a decrease of 13.6% compared to the same period last year. The median sales price for homes in Knoxville TN for Sep 12 to Nov 12 was $174,000 based on 3 home sales. Compared to the same period one year ago, the median home sales price increased 33.3%, or $43,500, and the number of home sales decreased 99.8%. There are currently 4,039 resale and new homes in Knoxville on Trulia, including 1 open house, as well as 966 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Knoxville TN was $240,767 for the week ending Dec 12, which represents an increase of 0.3%, or $724, compared to the prior week. Popular neighborhoods in Knoxville include South Knoxville and Downtown Knoxville, with average listing prices of $119,652 and $342,004.