For so many people, having their own home built is a lifelong goal. If this is something that you are planning for, how can you ensure you make the right choices so that your dream home does not turn into a nightmare? Firstly, finding the right lot and developer is crucial. Perhaps you have someone in mind but, how can you make sure they are the right choice?
Before signing any contract, make sure you obtain a property report from the developer. Its important that you read this thoroughly and carefully so that you do not receive any unexpected surprises later on. So, what kind of information should you find in the report? It should inform you about any previous liens or mortgages the property may still have. It should let you know if there are problems with the soil or other issues that would affect the building of your home. It will also contain information about the title of the property such as when you can obtain it and what type it will be.
The property report should also tell you about the availability of water and sewer services, whether it will be well or mains for example. It will tell you what you should expect to be charged for utilities, both during the build and after. Also, the location of schools, recreational facilities and the nearest communities.
Yes, a property report is helpful when it comes to making the right decision. Remember, however, that the property report is written by the developers themselves, if you sign a contract after reading the report, you will have seven days to cancel. Before making any decision, be sure to do your research and read the small print.
