Buying a New Apartment in the fall

Buying a New Apartment in the Fall

As the summertime ends and fall approaches, many families wonder whether it’s the right time to buy real estate. This can actually be a great time to buy since many purchasers focus on the spring like the famous Birmingham apartments. You’ll find many opportunities on great apartments.

The best way of finding an apartment is to search online. If you will visit a website, you will see a variety of new construction apartments available. Even during this time of year, you may be able to buy a new construction apartment that had not sold over the summer. Similarly, if you want to choose your apartment and have construction begun, now is the time to speak to the builders. If they can get a foundation in the ground before the frost sets in (more of an issue in the North) your construction can run through the winter. If you’re looking for a new apartment to occupy at the close of this new school year, start construction now.

As you look for a new apartment, what issues should you raise?

First, is this a one project builder or is this a builder who builds entire developments? You want to work with a larger scale contractor because they are more likely able to see it through in the timetable that you’ve allotted. While we have nothing against small builders if this is the only apartment that a construction company is working on, what will happen if the builder runs out of money? What if his plumber gets sick? What if his plumber walks off the job – you could be pushed back for weeks or months.

When you’re dealing with a more substantial builder, they have multiple people in each trade. If they are shorthanded, they can promptly find replacement workers. In the end, you are much better off with an established reputable builder who will finish the task, as opposed to a small contractor who, unfortunately, can bring a great amount of doubt.

Second, look at apartments that the construction company has already completed. Do you like them? The artist drawing may be gorgeous, but the apartment may be something else. A construction company who is consistently delivered high-quality construction is worth their weight in gold. A shoddy construction company who underdelivers is not worth the savings he can bring.

Finally, consider the long-term cost of the apartment. Not only does it carry a purchase price, but it needs to be maintained. A well-built apartment may have lower carrying costs. Also, is it rated as energy efficient? An “energy star” apartment meet certain government requirements on energy efficiency. Not only is this good for the environment, but can yield substantial savings on your energy bills. An energy Star rated apartment is also desirable for resale. You may plan on living here for 20 years, but unexpected things happen and you want to choose real estate that, if you need to, will be very marketable for resale.