If you are searching for new homes for sale in Knoxville, TN or new townhomes in Chattanooga, TN you're on an exciting journey. A new construction home, however, differs from purchasing a resale property. Understanding the process and what the key decisions are, as well as everything in between, is crucial. Let's walk through the process of purchasing a new home or townhome.
You should always start by exploring available communities near you and floor plans that match your lifestyle. In Knoxville, TN, new construction homes like those at Strawberry Hills feature modern designs with spacious lots and family-friendly amenities.
The Bexley in Chattanooga also provides stylish options tailored to urban and suburban buyers, but it can be tough to whittle down your choices, so visit builders' websites, attend open houses, and schedule virtual tours so you can compare layout, square footage, and pricing.
When you find the perfect community, it's time to select a lot. You can then submit a purchase agreement with the deposit, which is typically 1% to 5% of the home price. Builders often lock in current pricing for materials and labor, protecting you from future increases, and then be sure to review the contract carefully for timelines, upgrade allowances, and contingency clauses. At this stage, secure pre-approval for financing, as lenders may require it before proceeding.
This is where you make your home personal. At RP Communities, you'll work with our design team to choose finishes like countertops, flooring, cabinetry, fixtures, and paint colors. You should factor this into your budget early on, as selections typically close between four and six weeks after signing.
In communities like Strawberry Hills, when you're looking for new homes for sale in Knoxville, TN, you may select energy-efficient features or smart home tech. You can expect to spend between 10% to 20% extra on customizations and get everything in writing to avoid surprises.
The building work typically takes between six and twelve months, depending on the size, weather, and supply chains. You should observe the site at key milestones, for example, when the foundation has been poured, the framing, the rough-ins, the drywall, and the pre-drywall inspection.
As construction nears completion, which is typically 30 to 45 days out, you would finalize your mortgage, as new construction loans often convert to permanent financing at closing. You can conduct a final walk-through 24 to 48 hours before closing to check for potential issues like incomplete landscaping, scratches, or leaks.
At this point, you should be aware of your budget, particularly for prorated taxes, HOA dues if they are applicable, and moving costs. After you've exchanged keys, it's now time to enjoy your new home!
Purchasing a new construction where you are eyeing up Strawberry Hills in Knoxville or the Bexley in Chattanooga is an exciting journey, so if you want to explore floor plans, tour model homes, or discuss lots in new construction homes in Knoxville, TN, schedule a tour with RP Communities. Contact us today to make your dream home a reality.
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