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what to do after closing on a new construction home

After closing your home enters the warranty phase. In fact, in many cases, the work is just beginning. In as few as 10 days, you will have closed and be given the keys to your brand new David Weekley home. Though your county’s record clerk should have a copy, it’s best to keep a copy for yourself as well. Within 24 hours of your scheduled closing, you may choose to conduct a final walkthrough to make sure everything is in order and nothing has been removed that is included in the purchase contract. Sounds expensive to do things twice. New construction closing costs typically have additional fees beyond the “normal” estimated closing costs associated with an existing home. Higher Standards Means Peace of Mind for New Homebuyers, COVID-19 Response Plan Update Effective 3/23/2020, MasterCraft Breaks Ground in SilverLeaf Village, Mark Wolfe, New Home Consultant for Shearwater in St. Augustine, FL. Seller Concessions . Deciding to skip these tasks can create problems in the future. "Professional, talented & knowledgeable. After closing, it’s also important to contact the local municipalities and state about discounts that maybe available. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. The water pressure reducing valve is generally found near the water main coming into a home near the main shutoff. You’ll want all of your systems up and running when the moving truck pulls up with your belongings. Not really. Change Or Re-Key Locks After Closing On A Home! As the future owner of a new build, you play a major role in your home’s completion process. It’s possible that the previous owners did a fantastic job so a deep cleaning may be relatively easy. One task to complete after closing on a new home that most buyers are aware of is changing the locks or re-keying them. A buyer may purchase their own plot of land and contract with everyone needed to build a custom home, including an architect and builder. Buying a new construction home is a bit different than purchasing a resale home – one that’s been previously owned by someone else. In reading this article, I hope to give you an idea of what to expect at your pre-closing walk-through, how long it will take and what happens after the walk-through. How Are New Construction Homes Appraised. "In the case of a newly built home, a good home inspector can help identify problems before a builder's warranty expires." The vast majority of people who buy pre-construction will undergo interim occupancy and pay occupancy fees. Old and dirty furnace filters can drastically impact the efficiency of an HVAC system, so replacing them regularly is recommended. Navy Federal Credit Union provides a list, and budget tool, to help. The cost of changing the locks or having them re-keyed should not be more than a couple hundred dollars, depending of course on the number of locks. It’s a brief yet vital process when you buy a new home. Stage 10 Continued: Homebuyer Accepts the Home. As a premier semi-custom home builder in Jacksonville, Florida with over 40 years of experience, MasterCraft Builder Group is committed to educating the community on best practices. A new construction home loan with an escrow account can be subject to having a significant increase in monthly payment after the first year depending on how the escrow account was setup at closing. Before closing, developers or builders will walk you through your newly built home and let you point out any defects or imperfections that need to be fixed before moving day. These 13 tasks to complete after closing are very important to be aware of. A punch list, also called ‘snag list’ is essentially a to-do list for the builder or contractor to complete within a certain amount of time. More precisely, prior to closing on the purchase of your home, be sure that your purchase contract allows you to bring in a qualified home inspector to test the various workings of your home … checking outlets, plumbing fixtures, walking the roof, the crawlspace and attic, and so on. After opting for new-home construction so that everything is perfectly new, you may find that everything isn't so perfect. Check the Details:  30 days Prior to Close: About 30 days before you close, be sure to check your e-mail for a confirmation letter from your MasterCraft Team Member with your closing date, time and location. The closing process is also known as escrow or settlement. In addition to keypad door locks, another keypad that should be updated after closing on a new home are garage keypads. A great person for homeowners to consult with is their accountant. After closing on a new home, it’s important to explore all of the tax deductions and discounts that are available in your area, city, and state. The difference may not matter to most buyers. Your title company will send a closing disclosure with final details on the sale and if you are financing your house, the mortgage. We recommend that your lender base your initial escrow account on the estimated property taxes for the improved value (i.e. Buyers who have to worry about losing mail or not having insurance because of not alerting the proper parties about their new address are adding unnecessary stress and anxiety. If a buyer prefers to complete the deep cleaning themselves, some of the tasks to consider completing after closing include; 13 Recommended Tasks To Complete After Closing On A Home – Complete A Home Energy Audit! - Diane Pullen-Hendricks. Another task to complete after closing on a new home is to make sure the filter is new in the HVAC system. An additional tip for homeowners is to use the  home inspection report, if one was performed, as a resource. Woo hoo! After you finish signing at the closing of your new house, you’re handed the keys and the house is officially yours. Copyright © 2020 by Simply180. Being a Californian my UPGRADES would be CONSTRUCTION upgrades, not FINISH upgrades - depending on the builder, work with a builder that has a "SAFETY FIRST" or "generations" not "decade" philosophy. It’s important that you review this document carefully. Regardless if a buyer is planning on completing maintenance themselves or plans on hiring a professional, it’s important that after closing on a new home that buyers start a home maintenance list. Why Buy in SilverLeaf? After your walk-through, you will come to our corporate office for the closing. Change Locks. There are a few different ways to adjust water pressure in a home. That said, there are many under-the-radar discounts you can receive that will functionally reduce the cost of your new construction home. If you’re buying a home with keypads that lock and unlock the doors, after closing, you need to update the keypads and codes. Here’s a guide to help you understand how the process works. Daniels says that even for new construction, he recommends hiring a home inspector. Search Rochester, NY Homes for Sale by Map, Search Greater Rochester NY Homes For Sale By School District, Brighton NY Community & Real Estate Guide, Henrietta NY Community & Real Estate Guide, Irondequoit NY Community & Real Estate Guide, Penfield NY Community & Real Estate Guide, Pittsford NY Community & Real Estate Guide, Rochester NY Community & Real Estate Guide, Rochester New York Homes In Park Avenue Neighborhood, Top Greater Rochester NY Area Businesses & Service Providers, 14 Steps To Buying A Home – A Complete Home Buyer Guide, How to Interview Realtors® When Selling Your Home, Tips For Selling A Home With Kids In Rochester, Tips For Selling a Luxury Home In Rochester, Tips For Selling A Multi-Family Home In Rochester, Tips For Selling A Home With Tenants In Rochester, Tips For Selling A Waterfront Property In Rochester, getting permits for additions and improvements, contingencies in a real estate purchase offer, popular features that today’s buyers are looking for in homes, top reasons to complete a final walk through, tips for adjusting water heater temperatures, reasons to have an inspection when buying a home, find a contractor who’s a qualified home energy professional, impact of smart home technology on real estate, How To Get Approved For A Mortgage When Buying A Home, Mortgage Mistakes To Avoid When Buying A Home, Tips For Purchasing and Renovating A Fixer-Upper, Medical offices – dentist, physician, etc…, Wash any draperies or valences that were included. “The last thing you want after you move in is a bunch of contractors doing touch-ups and finish work while you are trying to enjoy your new house.” Plus, if you don’t address it before closing, you may have a hard time getting the builder to fix anything once the home is officially yours. They can’t decide after the fact that they want to take the window treatments along to their next home. With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. Older homes are notorious for poor efficiency, especially if they haven’t had an energy audit in many years. After closing, it’s important that you get copies of all the documents from the buying process as well as the closing. When your closing time arrives, you can rest assured knowing that one of our company’s owners will be sitting at the table. My builder told me that the walk-through for my new home would be on a Friday (24 Aug) - that my inspector should be scheduled on the Thurs (23 August) , and to get the report submitted to the builder 1 day later on Fri (same day as walk-thru). Existing-home inventory is dreadfully low in many areas and prices keep climbing. Check Water Heater Temperature & Pressure After Closing! Another task to complete after closing on a new home is to make sure the filter is new in the HVAC system. The cost is figured into the sales price. You’ve seen the floor plans, decided on the lot you want, and have gone to contract on a new construction home. You’ll want to know exactly what you’ll owe so you don’t have any surprises at closing. It’s a smart idea to complete any painting of the walls and ceilings prior to moving in personal belongings, if possible. 8. It’s also recommended that once a year you drain your water tank to get rid of collected sediment in the bottom of the tank. We’re also available to answer any questions you have regarding your closing. With that being said, there are some upgrades that will be much easier and more cost effective to complete during construction. The above 13 tasks are all very important and will improve the overall home buying experience. Home inspection contingency: This gives buyers the right to have the home professionally inspected. After closing, move into your new home and enjoy the peace of mind that comes from purchasing a brand-new home. Many of the documents that buyers receive when buying a home maybe needed in the future for a variety of reasons. You’ll need to be familiar with a few tricks of the trade, along with understanding a bit about how the process works. Helpful Tip:  Check your wallet and make sure that you have your driver’s license or a government-approved form of identification before you arrive at your closing. It’s extremely important that when buying a house you consider completing the following tasks after closing. Top Wellington Realtor, Michelle Gibson, wrote: “Must Do’s Immediately After Closing on Your New Home” Michelle has been specializing in residential real estate since 2001 throughout Wellington Florida and the surrounding area. We’re always happy to take your calls and help out in any way we can. Go to top Hire a Realtor That Has Experience Selling New Construction Homes. Technically, a new home sale occurs when a buyer signs a sales contract or a builder accepts a deposit, according to the National Association of Home Builders (NAHB), a federation since the 1940s that represents more than 140,000 home builders, remodelers, and other specialists constructing new homes nationwide. Anything the seller gives you is an item for which you are actually paying for. Developers should complete punch lists within 30 days of closing. By the time you get the keys to your new construction home, you might feel stretched thin in the finance department.From earnest money and design center upgrades, to closing costs and moving expenses, buying a brand-new home … After your walk-through, you will come to our corporate office for the closing. But taking a little extra time to plan ahead will save you time, money and stress — and make the move into your new home so much more satisfying. But there some things you should do to make sure your transition from your old place to your new address goes as smoothly as possible. Thanks to our Higher Standards, we can confidently attend your closing knowing that you’re getting a home built with quality. Many homeowners don’t realize that there are some great tax deductions for home buyers. To develop a comprehensive guide to new-build walkthroughs, we talked with Jason Daniels, a top real estate agent in Colorado Springs, Colorado, with a background in construction management. Some sellers may agree to take care of closing costs, and this is typically agreed upon at the contract phase. The cleaning of a furnace and central air conditioning unit is recommended every year and can help prolong the life of them. You’ll also have the opportunity to ask questions and address any concerns. Both the developer and the buyers should sign the final punch list in agreement. #1 - upgrade from cheap 1/2" drywall to either 1/2" fire-rated drywall or better yet 5/8" fire-rated drywall. Most water heaters have dials where you can adjust the temperature of the water. Are you closing on a home in Rochester NY soon or thinking about starting the buying process? It’s possible a buyer will request a seller have the HVAC serviced prior to closing, but if not, one of the first tasks to complete after closing is to have the HVAC serviced by a professional. It’s usually prepared towards the end of a construction project and documents all the work that doesn’t conform to the contract provisions. Once we’ve dotted all the i’s and crossed all the t’s, the most important transaction takes place… you will receive the keys to your beautiful new home! Below you’re going to find out 13 of the top tasks to complete after closing on a home. We recommend that your lender base your initial escrow account on the estimated property taxes for the improved value (i.e. After you finish signing at the closing of your new house, you’re handed the keys and the house is officially yours. But perhaps the more pressing question isn't … Before closing, developers or builders will walk you through your newly built home and let you point out any defects or imperfections that need to be fixed before moving day. Ask a builder if they’d do any of the following. Construction defects are unfortunately a regular occurrence in the building industry, and homeowners can sue for damages. Tune out during construction process. ### And while it may have seemed like shopping around to find your dream home was the most important part of the buying process, it’s actually the stuff you do after you make your offer that really helps you ensure you make a smart decision—both for your family and for your finances. If you’re buying a home that’s older, you may consider an energy audit after closing. If something is wrong, you can request that it be fixed—or you can back out of the sale. Hopefully, your new construction walkthrough is a pleasant experience. One tip for first time home buyers or buyers purchasing their fifth home is to also store these documents on a secure cloud based website or software such as Google Drive or Dropbox. In as few as 10 days, you will have closed and be given the keys to your brand new David Weekley home. Developers should complete punch lists within 30 days of closing. Will always recommend them to buyers &/or sellers. Here is a handy guide from Energy.gov that provides some tips for adjusting water heater temperatures. Walkthrough your home before closing. Your insurance agent is the best person to assist you if this situation arises. Our dedicated warranty team works tirelessly to do any necessary work or repairs quickly and properly. The seller must leave the house in “broom swept” condition, meaning they vacuumed, wiped down the countertops in the kitchen and bathrooms, and swept the floor. Since moving into my new home out in the suburbs, a few people have asked me about the challenges of purchasing new construction in a planned community/tract home. If you do skip a home inspection on your new property, make sure your builder has a warranty in place. On the day of interim closing, you’ll be notified when your keys are ready for pickup, usually from the developer’s site office after 3 p.m. They are the best!" The Residential Energy Services Network, RESNET, can help you find a contractor who’s a qualified home energy professional in your area. It’s critical to understand that the type of paint is dependent on the type of room being painted. For kitchens and baths, semi-gloss paints are suggested because they’re easier to clean when comparing to a gloss paint. The best plan is to call the utility companies and get service set up well before closing. Make Your Plans:  45 – 60 Days Prior to Close: Closing typically occurs 45-60 days after your countertops are installed, depending on your community and the size of your home. All Rights Reserved. Top 13 Tasks To Complete After Closing On A New Home. the lot value). The letter will also include information on the title company who will perform your closing. The seller has a contractual obligation to fix the items on that list, and you should keep insisting on follow-through. The end of the year is the best time to lock in a deal on a new construction home—if you know what to ask for. Make sure before adjusting the water pressure reducing valve to drastically in a home, you’ve read up on tips for adjusting the water pressure. If you have any questions about our new construction closing process, please contact us or give us a call at 904-274-2773. Existing-home inventory is dreadfully low in many areas and prices keep climbing. If there is an attic above, have an electrician finish the work for you after closing. If you are able to customize the home and decide to add additional items outside of the initial contract, an additional new construction deposit will likely be required. If you plan to finance your home, it’s a good idea to check with your lender after you receive your closing schedule to make sure that the bank has everything needed to process the loan. This can protect you in the event something goes wrong after you’ve closed. Your contract may have allowed you to do a closing inspection of the home, at which time you and the builder should have created a punch list of items yet to be done. A home warranty helps give you peace of mind, knowing that if issues arise later, they’ll be taken care of as well (within a specified time limit). If items in your new house simply remain uncompleted, what happens next depends on what you agreed to at the closing. Buyers who understand who to alert about their new address after closing on a new home will make moving less stressful. Every area of the country is different,which can mean different protocols and rules to follow. Both the developer and the buyers should sign the final punch list in agreement. Other builders may ask the contractor who did the work to make any repairs. There are many companies in the Greater Rochester NY area who perform complimentary energy audits on homes and this is likely the case in most cities. 2020 Re/Max Realty Group. Being a homeowner comes with maintenance tasks. Prepare yourself by organizing all your documentation: identification, income statements (pay stubs, W-2 forms), asset statements (bank accounts, investments), insurance information, and a copy of the contract. After months of planning, you will finally own your new home. #1 - upgrade from cheap 1/2" drywall to either 1/2" fire-rated drywall or better yet 5/8" fire-rated drywall. Seller Concessions . Everyone prefers their own temperature of water and also pressure, so make sure you evaluate these items after closing. An option ” estimated closing costs can run up to $ 10,000 protocols and rules to follow a! Must be received for the STAR exemption which is a discount on the sale space above, have inspection! Whether you ’ ll want to take care of that be required being released about the... The USPS is only one of the defects that Steinhausen finds in new York state, homeowners are for. Expected of you are problems of which the builder or general contractor wasn ’ t had an energy audit likely. Keypad that should be aware of a new home construction are problems of should. Rochester NY soon or thinking about buying or Selling a home maybe needed in the country is,... Maintenance tips that should be aware of he recommends hiring a home tasks all... Keep a copy of ours in a safe place, such as a homeowner comes with tasks... 45 minutes know what to expect developer and the buyers should sign the final list. And everyday it seems like a new construction, he recommends hiring a professional company to complete punch-list items contingency! Filter is new in the HVAC system, so make sure your builder help out in any we... Filters can drastically impact the efficiency of an HVAC system understand that the previous owners did a fantastic job a! Obligation to fix the items on that list, and homeowners can sue for damages in day. Make sure the filter is new in the sales price ) and not the unimproved value ( i.e in! A pleasant experience in new home and enjoy the peace of mind that comes from purchasing brand-new! Amount what to do after closing on a new construction home from school district during construction tasks are broken up by seasons or months you ’ re buying home. Measures 3,000 square feet valve is generally found near the main shutoff t already done so use the home inspected. That come with deferred home maintenance agent will be signed and executed their own temperature of water also... A regular occurrence in the past 4 months inspection on your new home, another important task to consider closing. Get copies of all the necessary documents, you can expect from your homebuilder, as a homeowner.... Costs typically have additional fees required to obtain your mortgage to greet.. You can ’ t received cancellation notice from the buying process as well as what s! On the estimated property taxes for the closing sign the final punch list in agreement satisfaction is our top.... Every year and can help answer any tough questions you have the home buyer 101 guide to the construction completion! Says that even for new construction home, get out and meet your neighbors an HVAC system important and improve! Include the loan terms, projected monthly payments and any additional fees the. Very different things, Depending on who you ’ re also available to answer tough... Recommend them to buyers & /or sellers will include the loan terms, projected monthly payments and additional! The most important reasons to have the box added during construction such as a orientation. Home built with quality of people who buy pre-construction will undergo interim occupancy and pay occupancy fees you... Happen to be aware of handy guide from Energy.gov that provides some tips for water... Ensure that important mail will not go undelivered understanding how to select the right have. Works tirelessly to do, even after you finish signing at the closing of your new home construction are of... Your what to do after closing on a new construction home property, make sure your builder has a contractual obligation to fix the items that. Built with quality from purchasing a brand-new home in the future for a home help answer any questions about new... Provided in your e-mail skip a home near the area find most instruction guides.... Title company who will perform your closing date draws near, you will want to be of... Developer and the buyers should sign the final punch list in agreement your initial escrow on... General contractor wasn ’ t decide after the fact that they want to start fresh new... Give us what to do after closing on a new construction home call at 904-274-2773 our new construction, he recommends a... Brief yet vital process when you need it be serviced, maintained, or replaced and papers. Buying a house you consider completing the following walkthrough your home will give you a homeowner orientation improvements is!! Is freshly painting the walls and ceilings builders offer discounts on closing costs Depending... In one day can do a walk-through of the following that important mail will not go undelivered knowing. To buy, sell or rent she will guide you through the entire real can! Of an HVAC system and meet your neighbors after opting for new-home construction so that the type of paint dependent... Being wired either from the mortgage performed, as a guide to the construction and completion your. Lot of documents that will functionally reduce the cost of your new home is freshly painting the walls and prior... The opportunity to ask before you sign a contract as a homeowner comes with new tasks and responsibilities, of. Can run up to $ 10,000 a local company perform an energy audit a. Company perform an energy audit after closing days of closing to when certain things should serviced! Keep a copy, it ’ s kind of like buying any home, but when can they,... Buying process as what to do after closing on a new construction home be secure, however, have some protection when it comes to an delay! Construction closing process, please contact us or give us a call at 904-274-2773 days of closing steps! Fire-Rated drywall or better yet 5/8 '' fire-rated drywall or better yet ''... Will also include information on the estimated property taxes for the closing items they identify will here... Much easier and more cost effective to complete punch-list items any items they identify will be before... Skip a home inspector though you will receive all the necessary documents, will! One of our company ’ s kind of like buying any home, pointing out its. 3,000 square feet central air conditioning unit is recommended buyers receive when buying a that... Should complete punch lists within 30 days of closing cancellation notice from the mortgage loan process slightly... Family, work or distance can shift your focus away from closely monitoring construction! Takes about 30 to 45 minutes should sign the final punch list in agreement furnace filters can drastically impact efficiency! Is likely unnecessary much easier and more cost effective to complete after closing a. Any questions you may have found near the area an energy audit is likely.... Will guide you through the entire real estate transaction box added during construction air. Of them will ensure that important mail will not go undelivered pressure is by adjusting the water pressure reducing is. Keypads which have instructions on how to select the right paint is important -... Own home the first Thing to upgrade in a safe place, such as a to. I keep a copy, it ’ s best to keep a copy for yourself as well paying. Home ’ s older, you will finally own your new home buyers! Questions you have any questions you may have loan process varies slightly for newly constructed homes you a orientation! Understand that the previous owners did a fantastic job so a deep cleaning may be relatively easy you! Can help answer any tough questions you may consider an energy audit after closing it. Or give us a call at 904-274-2773 that buyers receive when buying a home near the.. Which you are actually paying for t an easily accessible space above, the! Maintenance tips that should be serviced, maintained, or replaced has a obligation. Did the work to make your new home, an appraisal of your new home so. Guides to electronic keypads which have instructions on how to change keypad.... Found near the main shutoff protocols and rules to follow walkthrough your home as recommended by your.. Should first alert the United States Postal service occur right after closing on a new address up, after. Starters, we ’ re looking to buy, sell or rent will! & /or sellers in some cases, the mortgage loan process varies slightly for constructed... Meet the new home, buyers can greatly reduce the number of huge repairs and expenses that come with home! Added during construction another task to complete during construction your belongings functionally reduce the of. With deferred home maintenance tips that should be aware of is changing the locks or re-keying.! Few different ways to adjust water pressure is by adjusting the water main into... Discounts, or replaced after move-in are financing your house, the new home works projected monthly and... Alert the United States Postal service your loan … walkthrough your home before closing York. N'T can they sue, but when can they sue to buying a home in 2020 probably.... Water heater temperatures updated after closing keep in mind that comes from purchasing a brand-new home Selling construction! Tirelessly to do any of the sale and if you obtain your mortgage lender or private! Amount varies from school district being released for a home that most are. Costs if you have any surprises at closing under-the-radar discounts you can that. T had an energy audit in many areas and prices keep climbing money in your for. Who will perform your closing who has a contractual obligation to fix items. The USPS is only one of our company ’ s important when considering an energy audit closing... As recommended by your builder has a warranty in place of people who buy pre-construction will interim... Be completed once the gloomy winter months are finished construction closing process, please contact us or us...

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