New Construction Homes in Coastal Delaware
Welcome to the Delaware beaches! Thanks to very low property taxes, great weather, clean beaches, tax-free shopping, and fine dining, people are moving to Coastal Delaware! Delaware is consistently listed as a top state for retirees and as one of the most tax friendly states in the nation!
With the influx of new residents, builders and developers have established various new construction communities to fit the needs of every buyer. Single family, town homes, single family condominiums, golf course communities, 55 and better communities, lavish amenity rich developments, and quaint small developments surrounded by farmland. You name it, Coastal Delaware can offer it! To make your search easier, I have compiled the Coastal Delaware new construction communities here on one page! Take your time, explore the options, and call Scott at (302) 727-1981 or Contact Scott with any questions.
When you are ready to visit, make the most of your time at the beach instead of driving around developments that don't fit your needs. Scott will help you identify the developments that have the amenities, location, price range, and home type you are looking for so you can spend your time having fun in the sun! Call Scott today at (302) 727-1981 or Contact Scott to schedule your new construction tour!
Would you prefer an existing home or just don't want to wait for a new home to be built? Use the MLS Search to find your new home!
To explore and search for listings in new construction neighborhoods, please choose a neighborhood in the side bar, or click here for a list. Please note that re-sale homes will be included in the search results if any are available in the featured new construction developments. For valuable information regarding new construction, read on!
To Be Built. What does it mean?
During your search, you will often see exterior and interior photos of a beautiful home with a very attractive price, but when you drive by the property, there is nothing but a vacant lot! These homes are "To Be Built" real estate listings. The builder or developer is offering a floor plan that will be built on the lot once an agreement to purchase has been signed. The photos on the MLS are examples of what you could build, not the actual house you will get. Buyers frequently have the option to choose a different floor plan and features, depending on availability and lot size. The advertised price is the base price, not the actual price you would likely end up with upon settlement.
Understanding the "Base Price."
The base price is just that. It is the starting point before you add lot premiums, additional features, and options. What is included in the base price varies widely from builder to builder. Some builders include most everything you see in the model homes, but this is not the norm. Most builders offer a basic home and the features and options can add up quickly. Determining what is included in the base price, and what the options cost is an important step in building your new home. Sunrooms, screened porches, patios, decks, hardwood floors, gourmet kitchens, and luxury bathrooms are common upgrades.
Lot premiums are assigned to lots that are deemed more desirable and are added to the base price of the home. Lot premiums can be just a few thousand dollars, or hundreds of thousands for premium water front or water view lots.
Impact Fees, Transfer Taxes, and Special Community Liens.
During the development of new neighborhoods, the developer incurs many expenses to build the infrastructure; roads, sidewalks, sewer and water systems, and street lights. When you decide to purchase a home in these communities, some or these costs are shared by the Buyer.
Transfer taxes are 4% of the total purchase price of the sale and are typically split equally between the buyer and seller. There are a few builders that require the buyer to pay the entire 4%. Obviously, this is an important distinction when choosing a builder.
Impact Fees for water and sewer are another common cost shared by buyers. Again, some builders split these costs with the buyer and others require the buyer to pay the entire cost of the impact fees.
Special Community Liens are another type of cost that are occasionally passed to the buyers. Occasionally a municipality such as a local town with provide a long term loan to the development for the installation of roads, sidewalks, or street lights. These loans become liens on the property that are paid off over a period of years and are added to your city taxes until the lien is paid off. It is important to get the information on Special Community Liens so you understand the full impact and details of the arrangement and how it impacts your property.
Model Home Registration
When you visit model home sites, the on-site salesperson will ask you to register your visit. This is ok! When you fill out the registration, always write your Realtor's name on the registration form. This will ensure you are able to continue to use your Realtor for the purchase of your new home. The on-site salespeople are wonderful people and I consider many of them friends, however, they work for the builder and represent the seller. It is very important to remember to register your agent on the registration card. If you know you will be visiting a new construction model home, call your Realtor® and ask them to register you! Most builders allow Realtors to register their clients online or by phone.
Lot/Home Packages
Another option for building your dream home is to purchase an undeveloped piece of property and build your own custom home! Your Realtor® can introduce you to local builders and can assist in finding the lot that best works for your needs. Financing for this type of construction is limited and has a completely different set of requirements from conventional financing. If you are considering custom construction on your own lot, talking with a lender first is a necessity. I am happy to provide references to local lenders that are able to assist you with financing.
More Questions?
I would be happy to help you with your new home search and answer any questions you may have. You have a lot of choices when it comes to new construction, and having an advocate working for you is essential. I would be honored to be your Realtor®! Call Scott today at (302) 727-1981.