Off The MRKT

Your guide to New York real estate and more

Off The MRKT - Where New York's, Real Estate, Life Style, and Culture Converge

  • Real Estate
    • New York
    • Hamptons
    • Connecticut
    • Florida
    • Submit Your Open House
  • Food & Wine
    • Wine and Spirits
    • Where To Drink and Eat
  • Events
    • Events Gallery
    • Submit an event
    • Calendar Listings
  • The Look
    • Travel
    • Health and Beauty
    • Fashion
    • Lifestyle Guide
  • About
pexels-photo-323772.jpeg

Blunders To Avoid When Buying A New Build

November 10, 2020 by Jeremy Lindy

Thinking of buying a new build instead of an existing home? Here are some of the common mistakes to avoid when opting for a new build.

Skipping the display home tour

You can’t view a property that hasn’t been constructed yet. However, there may still be the option of viewing a display home to get an idea of what your new home might feel like. Viewing this display home will give you a better idea of what your property will feel like opposed to simply basing your decision off designs and sketches. This will ensure that you haven’t overestimated the size or the quality of the property. Many new builds such as these Armstrong Estate homes for sale will have display homes available to view. Virtual tours are the next best thing if a display home is not available.

Not researching the area

On top of getting a good idea of what the property will be like, it’s worth researching into the area. New builds can often be built on the outskirts of towns - you may want to check that your new home is not too far away from essential amenities such as shops and schools. If you need to commute to work, you need to make sure that the distance is not too far. You may also want to see what locals think of the development proposal - is your home going to be resented by neighbours or are they happy with the project. 

Overlooking incentive schemes

Some developers offer incentive schemes that can reduce the cost of purchase. If you’re a first-time buyer, you may also be eligible for financial support in some states when buying a new build. Such incentives are worth looking into - they could save you a lot of money.

Failing to agree on a completion date

New builds can take a few months to a few years to be constructed depending on how many delays there are. A good property development company will work hard to reduce delays. Agreeing on a completion date is likely to reduce the chance of long delays by spurring your developer to meet a deadline. If they fail to meet this deadline and you have agreed on a completion date in writing, you will likely be able to claim compensation - which could be vital if you have already paid for the property and are already paying off the mortgage.

Not ‘snagging’ your property

Snagging involves checking a new property for defects. Many developers will offer a warranty to buyers, which could last up to two years. This warranty is likely to cover any necessary repairs or improvements as a result of new build construction errors or ‘snags’ are sometimes called. By snagging your property, you can ensure that any problems are fixed while you’re still covered by your warranty. There are professional snagging companies that you can hire to check for defects. Alternatively, you can try snagging your property yourself. This guide at WhosTheMummy? offers tips on snagging a property yourself. 



Featured
Image 1.jpeg
Jul 1, 2025
The Greenwich by Rafael Viñoly Begins Closings, Ushering in a New Era of Downtown Luxury
Jul 1, 2025
Jul 1, 2025
OFFSHORE Montauk Opens with Star-Studded Saint Spritz Bash
Jul 1, 2025
OFFSHORE Montauk Opens with Star-Studded Saint Spritz Bash
Jul 1, 2025
Jul 1, 2025
CHILI dishes.jpg
Jun 30, 2025
Off the MRKT Favorites: Must-Have Picks for June 2025
Jun 30, 2025
Jun 30, 2025
Screenshot of Teaser Press Selects (Credit Plomp) - Dropbox.jpg
Jun 26, 2025
220 East 9th Street, Downtown's Next Iconic Condo, Now Under Construction
Jun 26, 2025
Jun 26, 2025
Hamptons-Beach-Homes-Image1.jpg
Jun 26, 2025
5 Ways To Protect Your Luxury Home in the Hamptons
Jun 26, 2025
Jun 26, 2025
couplefirecabin-Image1.jpg
Jun 26, 2025
Top 4 Reasons to Invest in a Vacation Property in Ohio
Jun 26, 2025
Jun 26, 2025
Escape to Paradise: Best Times to Discover the Hamptons
Jun 25, 2025
Escape to Paradise: Best Times to Discover the Hamptons
Jun 25, 2025
Jun 25, 2025
November 10, 2020 /Jeremy Lindy
  • Newer
  • Older
 
Off The MRKT Articles RSS

Follow Off The MRKT: Facebook | Twitter | Instagram
Contact us: Jeremy@Offthemrkt.com                                                                                           

Advertise | Off The MRKT Internship Program | Byline | Bible

Want More?

Want more awesome content like this? Sign up and get our best articles delivered straight to your inbox!

Thank you!
Our favorite listing this week is 508 West 24th Street, Unit 5th Floor, home to NBA Player Carmelo Anthony. The ten-time NBA All-Star, has listed his New York City condo. The home is the largest unit in the Cary Tamarkin designed building at 508 W 24
251 East 51st Street, Unit 2M, listed on the market as a Compass "Coming Soon," is a recently renovated, perfect pied-a-terre (and ideal one bedroom for all the rest of us). What truly sets this pad apart from the rest is the dreamy outdoor
Our last #openhouse roundup will you be checking out this #parkslope home?

#nycrealestate #brooklynrealestate #milliondollarlistings #luxuryhomes #OffTheMRKT
DNA Development announced that closings have commenced at 350 West 71st Street, the successful Upper West Side luxury conversion that seamlessly combines two historic pre-war buildings into one stunning contemporary condominium with a classic fa&cced
Our favorite listing this week is located at One West End, the sculptural glass residential tower designed by Pelli Clarke Pelli within Riverside Center. At $19.5 million, 29B offers 5,302 square feet of interiors space, with four bedrooms, five and
Looking to live in one of the trendiest neighborhoods in Manhattan? SoHo offers some of the most luxurious prime New York Real Estate. Known for its largest collection of incredible architecture in the entire world, SoHo is the heart of the historic
Following the unveiling of Rose Hill, one of the new residential developments in Manhattan's NoMad neighborhood that represents a modern era of Gotham-esque architecture and design by award-winning New York-based design firm CetraRuddy, legendary dev
The ethereal master bath at @theXInyc West Tower Penthouse features a custom sandblasted verde caldia floor, a carved verde scuro tub, and bronze vanities with marble tops designed by #AD100 French interior architect @pierre.yovanovitch.

Situated in