I just stumbled upon your page and started watching your content, I'm starting my research on purchasing a new build here in TX. This video is absolutely the most informative I've seen so far, I plan to rewatch and take notes. Thank you so much for sharing.
Great info! I don't have a new build but I stress to my friends who ask, how you do it. Well credit and savings. I purchased mine in 2017. Credit over 700 interest 4.5. 30yr Convectional loan.when covid hit and I heard about the interest rates, I refinanced, fico score over 800 approved for 2.875 interest, 20 yr loan, pmi removed and received money back. Now I'm paying more on the principle versus the interest. This is definitely the best time to buy a home if you can.
My husband and I are planning on building new construction in a couple of years. This will be our first time and we like to do lots of research before we comitt to anything. I'm so glad I stumbled upon your channel, I love the journey and infor your family shared. I know that prices won't be the same but I find all your info so helpful. TYSM for sharing.
good stuff Bro. Already liked the videos you guys have out there on your new build, but 4 weeks from closing, rate locked and this is all GREAT info. The internet owes you a debt of gratitude. Respect. [Dap]
I wish I was ready 😭😭😭😭 I feel like I won’t be able to afford a home by the time I’m ready, and my hopes of ever owning one will be a thing of the past. The prices are insane, and getting worse. It’s really sad to see. Thank you so much for this video. Lots of gems dropped ❤️
Don't get discouraged. I know its easier said than done but the tides will change. Incentives and deal will come back even if the base prices aren't lower
Great video!! All FACTS!! We just purchased our first home in April, it's under construction now. I regret not upgraded lots of things 🥴 now we have to pay a fee to change things. My husband wanted to wait to purchase thinking it would be a drop next year... but God told me to move now! Step out on faith if you have the savings, and get what you want. This info is Much appreciated sir! There's a lot of ppl who fear purchasing.
Thank you thank you so much for your info and insight. I've been struggling with myself whether to buy a new build now or wait until housing prices go down in a few years due to forbearances. The truth is that I don't want to buy a lower quality house in bad condition.
Thank so much. Can you do update on where you see things going now we are in 2022? I'm looking at Elyson. I am hoping to get a nice Floorplan my price range,but the prices did go up alot. Just wondering you thoughts, Reccomendation for up front pricing. I'm going to sell my current home BTW. Did you have an agent or did u go straight to the builder?
Thank you for this wonderful informative video, I learned lots of important payment infos that I need to be ready for (we just signed our new home construction contract and paid the earnest money deposit). Thank you for devoting your time to inform us.
Love the information thank you for sharing. I about to start my home buying journey I am not share on which way to go. Pre construction or resale. I am very nervous about it praying everything will go well. Thanks for the info.
Thank you for this video it has so much information but I have 2 more questions Do you need a realtor for ready to build home hunting and do you need them at closing? Also can you get outbid on new construction home aka ready to. Build thank you 🙏🏽
Great questions! A realtor won’t hurt you in buying new construction. You don’t pay their commission, the builder does. They can be a benefit by knowing more details about builders based on what’s on your wish list. The realtors aren’t needed at closing but a lot of them show up for support. Typically you can’t be out bid on mew construction. It’s first come first served as far as who signs contract and gives earnest money first BUT in the market some areas are doing highest/best offers
The home prices continue to climb in our area. We signed a contract for a semi-custom new construction home at the end of October. In less than 3 months, the base price for our floor plan has risen by $47k. They also stopped offering the 10k incentive for the design center. $57k difference in under 3 months is unbelievable.
This is what we are currently experiencing. We have been trying to get a new construction home but the price keeps going up and we have yet to secure a lot. Still on a waiting list.
I am a home owner who is almost done paying off her mortgage. You have somegreat information. Anyone on the fence please listen to this and put this info to use.
Love all of your great info you provided. For a new construction home when you get your pre-approval for a conventional loan before you sign the new builder contract I assume this amount stays with you until closing (8 - 9 months later or whatever time frame you wait for the new home to be complete) or do you need to get pre approval again before closing?
Thank you for this very comprehensive video! It was very insightful. I subbed because I'm interested in learning all that I can. I reside in Houston and I noticed your in Houston. Are you a realtor or work for a lender? I had a realtor, but he moved to Cali while I was looking for a home (so off putting). My 90 days expired and I haven't looked again. I was traumatized by that experience.
Thank you for subbing. Im not a realtor, i work for a builder in new construction. There amazing realtor in Houston that can help you. Don’t let that bad experience deter you - Akeem
Thanks for the tips. I guess my fear with new construction is that the builder has the option to break the contract (usu. to get more money) and leave the buyer high and dry. How often have you seen that happen? I was initially thinking new builds were the route to go to avoid the bidding war. Also, I see a lot of negative feedback from people who’ve had home built and then have issues with different aspects of the home that should be covered under some sort of warranty but they can’t get the builder or whoever is responsible to fix in a timely manner or at all. Thoughts?
Akeem..if a person is paying cash for a new construction home..would they still need to ask about the earnest money amount or the design center policy..knowing that they would have the money either way?
Great video, my builder only required $500 earnest money and allowed 8% of the purchase price for the design studio option. I had to pay the amount that was in excess of the 8% as the design studio deposit.
It’s so many factors that go into your closing cost. That’s why i said it’s about 3-4% of your loan amount. That will give you the dollar amount -Akeem
It varies by builders. Some just build new "spec" homes that have no modifications at all and are generally what people mean when they say "cookie cutter" style. But generally your semi-custom builder will have inventory homes that they design and build for quick move in or you can pick your plan, lot, and all your options
Brah the markets definitely gone crash stop telling people that when the economy about to bust so why wouldn’t the house market bust just saying that’s common sense
