Buying new construction in Scottsdale can be an exciting and rewarding experience. With the city’s vibrant real estate market and a variety of new developments, you have the opportunity to own a brand-new home tailored to your preferences. This comprehensive guide covers everything you need to know about buying new construction in Scottsdale, from understanding the benefits to navigating the buying process.
Guide to Buying New Construction in Scottsdale
Purchasing new construction involves several unique considerations compared to buying an existing home. This guide explains the following:
- Benefits of buying new construction
- Researching builders and developments
- Understanding the buying process
- Customizing your new home
- Financing options for new construction
- Navigating the inspection and closing process
- Working with a real estate agent
Here’s a closer look at each.
Benefits of Buying New Construction
Buying new construction offers several advantages that can make it an attractive option for homebuyers:
Customization: One of the biggest benefits of new construction is the ability to customize your home. Many builders offer a variety of floor plans, finishes, and upgrades, allowing you to create a home that fits your style and needs.
Energy Efficiency: New homes are built with the latest energy-efficient materials and technologies, which can lead to lower utility bills and a reduced environmental footprint. Features like improved insulation, energy-efficient windows, and modern HVAC systems contribute to a more sustainable home.
Low Maintenance: A new home comes with brand-new systems and appliances, reducing the likelihood of repairs and maintenance issues in the near future. Most new homes also come with warranties that cover structural elements, systems, and appliances, providing peace of mind.
Modern Design and Amenities: New construction homes often feature modern design elements and amenities that cater to today’s lifestyles. Open floor plans, smart home technology, and community amenities like pools, parks, and fitness centers are common in new developments.
Related: Scottsdale real estate advice for buyers and sellers
Researching Builders and Developments
Choosing the right builder and development is crucial when buying new construction. Start by researching reputable builders in the Scottsdale area. Look for builders with a strong track record of quality construction and customer satisfaction. You can find information on builders through online reviews, testimonials, and recommendations from friends or family.
Visit model homes and sales offices to get a sense of the builder’s craftsmanship and design options. Ask about the builder’s experience, the quality of materials used, and any warranties they offer.
Explore different developments to find a community that fits your lifestyle. Consider factors such as location, amenities, and the overall vision for the community. Developments like Silverleaf and Estancia offer luxurious living with a range of amenities.
Understanding the Buying Process
The process of buying new construction is different from buying an existing home. Here are the key steps involved:
Choose a Builder and Development: Start by selecting a builder and a community that meets your needs. Work with the builder’s sales team to review floor plans, available lots, and customization options.
Sign a Purchase Agreement: Once you’ve chosen a floor plan and lot, you’ll sign a purchase agreement with the builder. This agreement outlines the terms of the sale, including the price, construction timeline, and any upgrades or customizations.
Secure Financing: Obtain financing through a mortgage lender. Some builders have preferred lenders that may offer incentives, such as closing cost assistance or lower interest rates. Ensure you get pre-approved for a mortgage to streamline the buying process.
Customize Your Home: Work with the builder’s design team to select finishes, fixtures, and upgrades for your new home. This is your opportunity to personalize your home and make it uniquely yours.
Construction and Inspections: The builder will begin constructing your home according to the agreed-upon timeline. You may have the opportunity to conduct walkthroughs at various stages of construction to ensure everything is proceeding as planned.
Final Walkthrough and Closing: Before closing, you’ll conduct a final walkthrough to inspect the completed home. Any issues or defects should be addressed by the builder before closing. Once everything is in order, you’ll close on the home and receive the keys.
Related: What your real estate agent can’t tell you — and why
Customizing Your New Home
One of the most exciting aspects of buying new construction is the ability to customize your home. Here are some customization options to consider:
Floor Plans: Choose a floor plan that suits your lifestyle and needs. Consider the number of bedrooms and bathrooms, layout, and flow of the home. Open floor plans are popular for their spaciousness and versatility.
Finishes and Fixtures: Select finishes and fixtures that reflect your personal style. This includes flooring, cabinetry, countertops, lighting, and plumbing fixtures. Many builders offer a range of standard options as well as upgrades for a more luxurious look.
Upgrades: Consider upgrades that add value and functionality to your home. This could include enhanced kitchen appliances, upgraded flooring, additional storage space, or advanced home technology.
Outdoor Spaces: Don’t forget about the exterior of your home. Customize outdoor spaces with landscaping, patios, or decks to create a welcoming environment for entertaining and relaxation.
Related: Ready to stop renting and buy? Here’s how to tell
Financing Options for New Construction
Financing new construction may involve different considerations than financing an existing home. Here are some financing options to explore:
Conventional Mortgages: Standard mortgage loans are available for new construction, with terms similar to those for existing homes. Ensure you get pre-approved to understand your budget and streamline the process.
Construction Loans: Some buyers opt for construction loans, which cover the cost of building the home and convert to a traditional mortgage once construction is complete. These loans typically require a larger down payment and may have higher interest rates.
Builder Financing: Many builders offer financing through preferred lenders. These lenders may provide incentives such as lower interest rates, closing cost assistance, or streamlined application processes. Compare these options with other lenders to find the best terms.
Navigating the Inspection and Closing Process
Even though your new home is brand-new, it’s essential to conduct thorough inspections to ensure everything is built to code and meets your expectations. Here’s what to expect:
Pre-Drywall Inspection: Before the walls are closed up, inspect the framing, plumbing, and electrical systems. This is your chance to identify any issues that need to be addressed before construction continues.
Final Walkthrough: Conduct a final walkthrough with the builder to inspect the completed home. Create a punch list of any items that need to be fixed or finished. Ensure all agreed-upon upgrades and customizations are completed to your satisfaction.
Closing: Once all inspections are complete and any issues are resolved, you’ll proceed to closing. Review all closing documents carefully and ensure you understand the terms of your mortgage. After signing the necessary paperwork, you’ll receive the keys to your new home.
Working with a Real Estate Agent
Working with a knowledgeable real estate agent can simplify the process of buying new construction. An experienced agent can provide valuable insights into different builders and developments, help you understand the terms of the purchase agreement, and guide you through customization and inspections.
Look for a REALTOR® with expertise in new construction and a deep understanding of Scottsdale communities. They can represent your interests and ensure you get the best possible terms and quality in your new home.
FAQ About Buying New Construction in Scottsdale
Check out these commonly asked questions about buying new construction in Scottsdale. If you don't see your question here, please call our office and we'll find you the answers you need.
What Are the Benefits of Buying New Construction?
Benefits include customization options, energy efficiency, low maintenance, modern design, and warranties. New homes offer the latest in construction technology and design trends.
How Do I Choose the Right Builder?
Research builders by reading online reviews, visiting model homes, and asking for recommendations. Look for builders with a strong reputation for quality and customer satisfaction.
Related: 5 things to ask yourself before you buy a vacation home in Scottsdale
What Should I Expect During the Construction Process?
Expect multiple inspections, regular updates from the builder, and opportunities to conduct walkthroughs at various stages. Communication with the builder is key to ensuring everything goes smoothly.
How Can I Customize My New Home?
You can customize floor plans, finishes, fixtures, and upgrades. Work with the builder’s design team to select options that reflect your style and meet your needs.
What Financing Options Are Available for New Construction?
Options include conventional mortgages, construction loans, and builder financing. Compare terms from different lenders to find the best option for your situation.
Buying new construction in Scottsdale offers the opportunity to own a brand-new home tailored to your preferences. By understanding the benefits, researching builders and developments, navigating the buying process, customizing your home, exploring financing options, conducting thorough inspections, and working with a real estate agent, you can ensure a successful and satisfying experience. Follow this comprehensive guide to find and purchase the perfect new construction home in Scottsdale.
Are You Buying or Selling a Home in Scottsdale?
If you’re selling a luxury home in Scottsdale, we can help. You can use our home value calculator to get a ballpark idea on what your home may be worth – and you can call us at 602-694-3200 to talk to a REALTOR® about how we can market your home to all the right buyers.
If you're also looking for a new home, we’ll be happy to show you the homes that interest you most. While you’re here, explore all our Scottsdale real estate listings or look in specific communities:
- Ancala homes for sale
- Boulders homes for sale
- Cactus Corridor homes for sale
- Scottsdale Country Club homes for sale
- Scottsdale Ranch homes for sale
- Old Town Scottsdale homes for sale
- Paradise Valley homes for sale
Don Matheson
REALTOR® | Founder
The Matheson Team
RE/MAX Fine Properties
21020 N. Pima Rd., Scottsdale, AZ 85255
602-694-3200
[email protected]
