New Construction Headaches?! Things You MUST Know Before Buying New Construction

New Construction Can be a Headache!
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Matt Lunden, ABR®, REALTOR® | Rehoboth Beach, DE
Lunden Group
Keller Williams Realty
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[@mcdianer]

Thanks for the update. I purchased with DR Horton. There were some upgrades in the spec home. I love my new home. Bad news - the upcoming new development have me concern.

[@lalexander1144]

Please go over the situation where new builders may not actually own the land you're buying into. I heard that this can be unique to Delaware? So you basically lease the land? Also, talk about how new builders may pass the cost of plumbing, gas pipes etc.

[@MattLunden]

Land lease is not overly common in new construction, but we do have a few established communities are that way

[@Zpoet]

I am planning to move to Delaware in the next year. My sister already lives there.And flying up there from Oklahoma in the middle of February. I have a realtor Friend of my sister. and I had been talking with both. LENNAR and Ryan. With the one looking at buying what they have already built lennar the other. Building it, but ryan since we start talking with them, have started coming down prices. And adding what they're including. And yes, I know sometimes it can just appear there. Adding him, but this isn' change from what was originally seen.. Are you seeing that now we're? The companies are a little bit over stocked in the market. And how do you access your comparison pages?

[@MattLunden]

Since you are working with another agent, we have to respect that relationship & ask that you turn to them for guidance.

[@ndg9367]

Hi Matt, do you ever sell modular homes and did you ever do a video on this?

[@MattLunden]

Hey! We have sold modular homes - I haven’t done a video on them specifically, but happy to answer any questions you may have!

[@ndg9367]

@MattLunden Me and my wife might be looking. Would we be able to get USDA 0% no down payment loan? I have 3 vehicles and 1big box truck. Is lease land even a possibility or should I buy land?

[@MattLunden]

Typically you cannot get financing on any modular homes on leased land unless you go through a local credit union & the rates would be similar to car loans for the structure + the lease fee would be separate