5 Top Questions New Home Builders Hear

Posted by Shanna on Sep 7, 2010 in Blog, Commons Questions | 0 comments

I’ve decided to partner with some professionals in other real estate industry businesses to bring you even more information about real estate.  Today brings the first article from Molly Rutherford, a New Home Sales Representative for Dominion Homes.

In my 10 years of experience selling new homes in Columbus, I have helped many clients obtain their dream of home ownership. I am asked many questions, especially from first time homeowners that I would like to share with you:

1. How do I know how much home I can afford?

That is a great question and very important when you are considering such a large purchase. Dominion Homes is a partner of Centennial Home Mortgage and can help you calculate exactly how much you can afford, taking into effect your current debts. This process is called a pre-qualification and is free to call of our clients. When we calculate your monthly payments, we make sure to add in not only your principle, interest, taxes and insurance, but also your monthly HOA (homeowners association fee) if applicable. That way, you know an EXACT payment.

2. Do I need to have 20% down to buy a home?

Absolutely not!! The FHA has recently changed some of their policies and now requires 3.5% as a down payment. However, with a new build home, we can let you EARN your down payment by doing some work on your home yourself. The work that will be required deals with painting, planting shrubs, mulching, attaching door knobs and towel bar holders. There is not an extra cost to you as these products are provided to you by Dominion. You just have to bring the tools to get the work done!! At Dominion, this process is called “Helping Hands”, but you also might have heard it being referred to as “Work Equity”. Many of my clients take advantage of this since it is not hard work and with this program, they do not have to have down payment money.

3. What is the process of buying a new home?

Buying a new home versus buying an existing home is a little different. If you have time and want to watch your home being built, you can do that. Our building process usually takes approx 5-6 months. As a new build, not only can you choose all of the options that will be in your home, but you can also choose your own colors. This really makes it feel like YOUR home rather than someone else’s home. If you do not have the time to build a home, we have many homes that are in various stages of construction and can be done quicker than the 5-6 month time frame. These homes are called “inventory homes” or “spec homes”. Inventory homes have all of the options chosen for them already, but you still might be able to choose carpet color, flooring color, and appliances.

 4. What are the advantages of buying a new home vs. a used home?

This question is something that many clients don’t think about until too late in the process. With a new build, almost everything in your home is under a warranty. Not only the structural building, but also the electrical, heating/cooling, and plumbing. In a used home, if anything goes wrong with the home after you move in, it is now your responsibility. In a new Dominion home, if something goes wrong, it is under a warranty and is usually covered for a certain amount of time. This aspect must be taken into account before deciding on a new home vs. a used home. All items in a new home, such as the furnace, hot water tank, roof, siding, and many more are all BRAND NEW and should not need any maintenance for years. In a used home, all of theses items could be years old and will need to be replaced sooner. In the end, that means more money for the new homeowner. Newly built homes are also much more energy efficient, which will help on your heating and cooling bills.

5. Can I use a realtor to represent me if I buy a new Dominion Home?

ABSOLUTELY!!!! We welcome realtors!! Your Realtor, such as Shanna, works on your behalf and is there to make sure that you are getting the best value in the best location. You will never get a “better deal” if you do not use a realtor. Our prices are set whether you have a realtor or not.

Hopefully these few questions have helped you get a better idea of what we have to offer at Dominion Homes and the differences between buying used homes and new homes. I have added a link below if you would like to meet with me personally to view homes in the Columbus area. Please feel free to browse our website and call me personally with any question. Although I am located at our Village at Hilliard Run community, I can help you at any and all locations. I will be updating monthly on Shanna’s website, so please check back for more helpful hints from me at Dominion Homes.

Molly Rutherford                                                      

www.dominionhomes.com/mollyrutherford

Shanna Lafontaine is a Realtor who works the Dublin, Hilliard, Powell, Worthington, and surrounding Columbus areas.

Shanna Lafontaine is a Realtor with RE/MAX Affiliates who works the Dublin, Hilliard, Powell, Worthington, Westerville, Delaware and surrounding Columbus areas helping both Buyers and Sellers.