Friday, November 01, 2013

Building a New Home? What to expect from your Design Studio appointment.

You have now gone under contract on your new construction home in Orlando.  The builder gives about two weeks to schedule your design studio appointment.  This is the best part of purchasing a brand new home, you get to select all the colors of your homes, select everything from cabinetry, to different style of doors. Buyers love it!  You do not have to move into a resale and remodel, everything will be built to your taste. But you have to be realistic.  It will hard to restrain yourself from spending too much money, and builders are fine with that as there is market up in those upgrades.  A typical buyer will spend anywhere from $5,000-$30,000 on upgrades, and you could go higher.  

Here are a few tips to prepare for your Design Studio appointment.
  • Allocate time off.  Depending on the builder, and size of home, your design center appointment will be 4-8 hours.
  • Bring someone with you.  The design center consultants will not make selections for you.  You do need a second opinion,  bring your spouse, friend, buyers agent, or interior designer.
  • Watch what you spend.  If you are financing then you need to be aware the builders contract typically does not have an appraisal contingency.  This means if the price of home plus upgrades exceed the appraised value of home, you will have to pay the difference from total purchase price and appraised value in cash at closing.  
  • Go to Studio Preview.  Check with the builder to see if they have preview dates for their studio, this means you get a chance to review home options and prices.  This will help, so you are not overwhelmed with too many choices and pressured during your selection appointment.  Ashton Woods has viewings every 1st and 3rd Thursday of each month from 4:30-6:30pm.  Meritage Homes has theirs every Wednesday from 4-7pm.
Buyers Broker of Florida assists their clients through the maze of new home construction upgrades.  We help in sorting out which upgrades are must have's, others that are better done after closing, and others that maybe a waste of money.