Buying from a builder follows its own rules. Here's how it works, from your first visit to the keys, and where buyers lose money or options by accident.
1. Decide on representation before your first visit
The sales center works for the builder. You don't need your own agent, but if you want one, most builders, Lennar included, require the agent to be registered at your first contact and to come with you on your first visit. If you go alone first, you usually can't add an agent later. The builder typically pays the buyer's agent.
2. Get pre-approved and compare lenders
Builders often offer incentives, such as a lower rate or closing cost help, if you use their affiliated lender. Get a quote from an outside lender too, so you can compare the full cost.
3. Choose the community, floor plan and homesite
Homesites can carry premiums for lake views, preserves or larger lots. Early buyers usually get the most choice.
4. Read the contract carefully
Builder contracts are written by the builder. Look at the deposit amount and when it's refundable, the estimated completion date and what happens if it slips, what's included, and the HOA and CDD disclosures. A Florida real estate attorney can review it.
5. Make your selections
Depending on the builder, you may choose flooring, cabinets and other options at a design center, or many features may already be included. Upgrades raise the price and the appraisal has to support it.
6. Follow the construction
Ask about the builder's inspection policy. Where it's allowed, an independent inspection before drywall and before closing can catch problems while they're still easy to fix. If you live far away, ask your agent for photo and video updates.
7. Walkthrough and closing
At the final walkthrough, list everything that needs fixing. Get your homeowners insurance quotes early; in Florida, wind and flood coverage can take time to arrange.
8. Warranty
New homes come with a builder warranty. Coverage terms vary by builder, so confirm in writing what's covered, for how long, and how to file a claim. Set reminders before each warranty period ends.