There's something inherently appealing about a brand new house -- you get to pick out the countertops, drapes, and appliances, and have everything designed just the way you want it. But there are downsides, too. Often, the advantages of new houses are overshadowed by problems such as shoddy construction and lengthy construction delays. Here are some suggestions on how to avoid problems.
When you buy a home in a new subdivision, common interest development (CID), planned unit development (PUD), or co-op, chances are good that you also automatically become a member of an exclusive club -- the homeowners' association. The homeowners' association will probably exercise a lot of control over how you use your property.
If you’re considering buying a home in a planned community, you are likely aware that along with the benefits the community might offer (such as pools, spas, private roads and beautiful landscaping), homeowners there have certain obligations, including financial ones, to the community’s homeowner’s
It is an excellent idea to check that the previous owner paid all his or her dues before you purchase the unit. Whether you will be responsible for paying the previous owner’s dues, however, is another matter.