Demand for homes in Panama City Beach has remained steady for years, thanks to the desirability of this location as both a vacation destination and one of the best places to retire. In response to the consistent demand in Panama City Beach, there are some beautiful new construction developments begin added to the area.
If you are considering a new construction home in Panama City Beach, we want to help you. Contact us any time to learn more about finding the right home for sale, and keep reading for questions you need to ask before buying a new build in Panama City Beach. While there are many obvious benefits to buying a brand new home, the process is different and there may be some surprises along the way if you don’t ask the right questions up front.
Can I see a finished home that is not a model?
A model home or a virtual tour online are great places to start as you get a feel for what the finished product will look like, but they don’t always provide a totally realistic picture. Ask the builder if you can walk through a home that was recently completed or is near completion to see what a more typical project will look like.
While the model home is built by the same builder with the same floor plan, it is likely going to feature many upgrades that you may not include in your own home, and the staging can be distracting from the home itself.
What is included in the base price?
The base price of the home is just that: the starting point. A new construction home may not include some of the things you would assume, so when you see the price online it isn’t going to tell the whole picture yet. Find out what will need to be added later, either to your total purchase price or as something you need to pay for after moving in.
Every builder is different, but some of the features you may be surprised to not find included in the base price might be:
- The lot
- Fencing
- Landscaping
- Appliances
- Window coverings
- Finishes you noticed in the model home
To be fully prepared, get a clear list of what is included and what needs to be added to the price. You will likely be able to customize many features of the home, but ask the sales person what can be customized, what is included in the price, and up to what point you can change your mind on these decisions.
Are there any incentives available for using your preferred lender?
Many builders have a preferred lender they like their clients to use. The partnership between the builder and the lender is mutually beneficial for them, so sometimes the builder will offer an incentive for using their lender.
We always recommend talking to more than one lender to compare your options, but it never hurts to ask if your builder will offer anything for using their partner. This might include a credit toward closing costs, an upgrade in the home, or something similar.
Is there a warranty?
Most new construction homes are delivered with a warranty. It usually doesn’t cover everything, but should give you peace of mind about the craftsmanship of the home. Make sure you are totally clear about the warranty offered and what it will cover.
What will the HOA costs be and what amenities are going to be in the community?
In general, new construction developments will have an HOA. Find out what the ongoing cost of the HOA will be, what those costs are going toward, and whether they will be raised in the near future. The HOA fees should be factored in to your purchase as you consider the amenities and lifestyle they provide.
What are the community guidelines going to be?
Find out if the guidelines or C,C, & Rs conflict with any of your plans for the property. For example, if you are expecting to list the home as a short term vacation rental to take advantage of this popular vacation destination, make sure the community allows this.
Ready to find your new construction home in Panama City Beach? Contact us any time.