If you've been searching the available Fremont, California real estate listings for a few weeks now and haven't seen anything that really fits your personal needs, a newly constructed home could be exactly what you are looking for. There are a variety of options if you want to go this way, from the contractor-designed communities popular among builders of Arlington, TX houses to designing and building your new home entirely on your own. To help you get a better idea of how to secure the perfect home for you, you'll need to consider the following things.
Community or Stand Alone?
The first decision you'll need to make is whether you want to buy into one of the newer Fremont communities that are still in the construction and planning stages or design a new home for yourself. If you choose to build your own home, you're free to choose your own location and home plans, even to the point of replicating your old Unionville, Ontario real estate, but you have to handle everything yourself. If you choose a community you'll have a choice of only a few neighborhoods and have to content yourself with whatever home style the contractor has decided to build, but they'll be doing all the work for you. All you have to do is hand over your money.
Budget
Once you've decided whether you'll be buying into a new development or building on your own, you'll have to come up with a budget before you can go any further. The amount of income you can spare (it should never be more than 32%) for monthly mortgage payments determines what size house you'll be able to afford. $279,000 may have bought you a huge 5 bedroom place in Liberty Village condos but the same amount of money in Fremont will only buy you the smallest house. Condos here generally start around $300,000 while a detached home will require an investment of $700,000 or more.
Buying into a New Development
If you're going to be buying into a new development, don't just pay the flyer price. Hire a realtor. It's one thing to sell your old Yonge and Eglinton condo in Toronto to a cousin, but quite another to negotiate prices with the contractor, so do seek help. Visit the completed model homes to decide which version would be best for you. Once you've chosen one, your realtor can enter negotiations and you can tour the development and choose a lot for your new home to go on. Just like buying a car, the builders will offer upgrades and additions. Choose the ones you want but be careful of your budget.
Building Your Own Home
When building your own home, unless you're an architect with carpentry, plumbing, and electrical experience you'll want to hire help. Use a realtor to help you select and purchase a lot in your preferred neighborhood. Get a professional architect to draw up your two storey house designs and a building contractor to construct it. Gather estimates and other people's opinions on several companies before you choose. Remember: you will be responsible for all the legal permissions including zoning, code inspections, and title transfers, so be sure to consult a lawyer as well.
| 