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A Comprehensive Guide to Buying a Brand New Home: FAQs and Essential Tips
Purchasing a brand new home is both an exciting and overwhelming journey. From selecting the best location and builder to choosing the ideal design and features, and finally, securing financing and closing escrow, there’s much to consider. Discover answers to some of the most frequently asked questions about buying a brand new home below.

What are the benefits of buying a brand-new home?

Purchasing a brand new home comes with numerous advantages, including:

  • Customization: Personalize your home to your preferences and lifestyle. Select your desired floor plan, finishes, fixtures, appliances, cabinets, countertops, and more.
  • Latest Technology and Energy Efficiency: Enjoy convenience of connected tech features, solar panels, low e windows, and highly efficient HVAC systems. These upgrades can lower utility bills and reduce your environmental footprint.
  • Builder’s Warranty Program: Enjoy peace of mind with the builder’s limited warranty designed to protect your investment.
  • Customer Service Olson’s award-winning Customer Service team is committed to assisting you beyond move-in, providing regular check-in visits and expert advice on home maintenance to ensure your home stays in top condition.
  • Limited Repairs or Renovations: Everything is brand new, so you won’t need to worry about costly repairs or updates for years to come.
How do I find a reputable builder?

Choosing a reputable builder is essential when buying a brand new home. You need someone with experience, quality craftsmanship, and integrity. Here are some effective ways to find a reputable builder:

  • Ask for Referrals: Seek recommendations from friends, family, coworkers, who have recently bought or sold new homes.
  • Check Online Reviews: Look up reviews and ratings from previous customers on platforms like Google, Yelp, or the Better Business Bureau.
  • Visit the Builder’s Website and Social Media: Explore the builder’s online presence to view their portfolio, awards, certifications, and customer testimonials.
  • Tour Model Homes and Communities: Visit the builder’s model homes and communities to assess their workmanship, design, and amenities firsthand.
How do I finance a brand new home?

Financing a new construction home is similar to financing any other home. You have two main options:

  • Use Your Own Lender: Secure financing through a lender of your choice and get prequalified.
  • Opt for a Preferred Lender: Take advantage of Olson’s preferred lenders, who are familiar with the new construction process and may offer additional financial benefits.

By exploring both options, you can find the best financing solution to meet your needs.

When do you close on a new construction home?

When you sign a purchase agreement with Olson Homes, you’ll receive an estimated completion date, giving you an idea of when you’ll close on your new construction home. Here’s a step-by-step overview of the closing process:

  1. Estimated Completion Date: Upon signing the purchase agreement, Olson Homes provides an estimated date for when construction will be finished. We will give you regular updates along the way to let you know the current schedule for completion.
  2. New Home Orientation: Once construction is complete, you’ll attend a New Home Orientation with our team to familiarize yourself with your new home. This typically happens about 5 business days prior to closing escrow.
  3. Signing Loan Documents: You sign your loan documents and wire your funds to escrow.
  4. Closing Day: After the New Home Orientation and all the lender documents are in you’re all set to close on your new home and complete the purchase.

By understanding these steps, you can anticipate when you’ll move into your new construction home and prepare accordingly.

What is an HOA?

Homeowner associations (HOAs), including condo associations, are typically managed by a Management Company at the under the direction the Board of Directors comprised of elected resident homeowners. Here’s what you need to know about HOAs:

  • Governance: HOAs are governed by a set of CC&R’s and bylaws outlining the rules and regulations for the community.
  • Elections and Amendments**: As a homeowner in an HOA, you have the power to elect board members and request rule reviews and amendments.
  • Interior vs. Exterior Control: While you have control over the interior of your home, the HOA usually governs exterior maintenance and changes.

By understanding your role and the structure of your HOA, you can actively participate in community decisions and maintain a harmonious living environment.

Will I be able to personalize my new home?

Yes, this is a common question among buyers of new construction homes! Your ability to customize depends on the stage of construction when you enter the contract. Here’s what you need to know:

  • Early Stages: If construction hasn’t started or is in the very early stages, you’ll have more design options, including structural changes, electrical, and plumbing fixtures, cabinets, etc.
  • Progressed Stages: As construction progresses, the builder may have already committed to certain features limiting your customization options.

To maximize your ability to personalize your new home, it’s best to make your commitment as early as possible in the construction process.to make the commitment as early as possible in the construction process.

What features will come with my new home?

Standard features vary across our new home communities. For specific details on what each community offers, please visit our welcome centers for detailed information.

Do I need a real estate agent to purchase a new home?

This is a common and valid question. The simple answer is no, you don’t need an agent to buy a new construction home. You can work directly with the builder and utilize our Home Advisors, who will guide you through the entire process.

How long will it take to build my home?

The duration of building a new home varies based on factors such as the home type and builder. Typically, construction can take between 5-7 months on average.

Is there any benefit to using a builder’s preferred lender?

A preferred lender is a trusted and professional resource recommended by a home builder to assist homebuyers. Here’s why using a preferred lender can be advantageous:

  • Expertise in New Home Construction: Preferred lenders understand the nuances of the new home construction process, ensuring timely processing of documentation to avoid delays.
  • Incentives and Benefits: They may offer incentives such as closing cost credits, making them a financially attractive option for financing your home.
  • No obligation or commission: There’s no contractual agreement or commission involved with using a preferred lender; they are recommended solely based on their track record of excellence in serving homebuyers.

Before selecting a mortgage lender, consider asking about the builder’s preferred lenders to determine if they are the best choice for handling your mortgage needs.

What advantages do new homes have over resale homes?

When deciding between buying a new home or a resale home, consider these advantages of choosing new construction:

  • Energy Efficiency: New homes are built to modern codes, enhancing energy efficiency and potentially reducing energy bills.
  • Customization: Personalize your new home with the help of our professional Designers to suit your preferences without the need for renovations or upgrades.
  • Warranties: Enjoy the peace of mind with warranties and protections that come with many new homes.
  • Lower Maintenance: New homes often require less maintenance compared to older resale homes.
  • Move-in Ready: New homes are typically move-in ready upon completion, minimizing delays and hassle.
  • Modern Designs: Benefit from contemporary floor plans and designs that meet current lifestyle needs.
  • Your Olson home comes with a dedicated team of experts to support you every step of the way, long after closing day. Our Customer Service team is available throughout the warranty period and remains actively engaged in the community for ten years through our HOA Champion Program.
  • Choosing a new home can provide you with these benefits, ensuring a comfortable and efficient living environment tailored to your preferences.
What kind of warranty will my new home come with?

Limited 10-year warranty with one year for fit and finish and Olson Homes Quality Pledge. See an Olson Home Advisor for a detailed copy of the warranty.

What makes Olson a great homebuilder?

The top honor at the Homebuyers’ Choice Awards, The Eliant, is presented to the highest-rated single-division home builders and the highest-rated multi-division home builders for the best overall purchase and ownership experience. This is based on customers’ ratings of key measures in the Eliant Home multi-stage survey series, captured at move-in, mid-year, and year-end. Olson Homes received this prestigious award in the single-division segment.  Olson Homes has now won The Eliant for the fifth time in a row (and a total of 8 times since 2015). Olson Homes was also honored with eight other awards, including five first-place wins for First Year Quality, First Year Customer Service Experience, and Best Customer Communication.

Olson Homes is renowned as California’s leading builder of affordable new home communities in high-demand urban centers. Since 1988, Olson has crafted over 11,000 homes, including single-family attached, detached, live/work, and mixed-use residences across 100 cities. Headquartered in Seal Beach, California, Olson Homes has earned multiple top customer experience awards, notably the Eliant Homebuyers’ Choice first place awards for Overall Purchase and Ownership Experience in recent years.

When you choose an Olson community, you embark on a lasting relationship. Our unique Olson HOA Champion Program exemplifies our commitment to exceptional customer service. Each community is supported by a dedicated Olson Associate who engages in Homeowners Association meetings, coordinates community maintenance with Olson, and provides educational resources to enhance home value. From personalized manuals to ongoing advocacy, Olson ensures your community remains a thriving place to call home throughout your residency.

Discover why Olson Homes stands out in the building industry, offering not just homes, but enduring partnerships and quality living experiences across California.

Does Olson offer a homeowner referral program?

At Olson Homes, we’ve simplified the process of helping your friends and family become homeowners through our Homeowner Referral Program. Here’s how it works:

  1. Download and Complete Referral Form: Visit our website to download and complete the referral form.
  2. Reward Details: When your referred friend or family member purchases a new home in participating Olson communities:
    • You: Receive a loyalty reward of $1,000-$3,000.
    • They: Enjoy a $1,000-$3,000 credit towards their closing costs.
  3. Maximum Rewards: To qualify for maximum rewards, you must currently own an Olson home.

Take advantage of this opportunity to benefit from our Homeowner Referral Program and help others discover the joys of owning an Olson home.

Do your communities offer affordable (below market rate) homes?

Olson Homes does offer affordable housing options at select communities. Join our interest list to explore communities that provide affordable programs and find the perfect home for you.

I can get better prices on some of the same optional items at a home improvement store? Why is this?

Contrary to common perception, you don’t necessarily get a better price at a home improvement store. At Olson Homes’ Style Studio, the price you pay includes several valuable benefits:

  • Delivery and Installation**: Items are delivered and installed in time for your move-in.
  • Having work after close of escrow may require demolition and haul off costs or touch up and repair costs that need to be considered in the total cost.
  • Warranty Coverage: Every installed item comes with a warranty.
  • Mortgage Integration: Costs are rolled into your home mortgage for convenience.
  • Sales Tax Benefits: Enjoy sales tax-free purchases of items.
  • Expert Design Consultation**: Receive expert design advice and consultation throughout the process.

Explore the advantages of shopping at Olson Homes’ Style Studio for a seamless and rewarding home customization experience.

Thank you for exploring the advantages of purchasing a new home with us. Should you have further inquiries or require additional details, please don’t hesitate to reach out. It would be our pleasure to assist you in discovering your ideal home!

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