Skip to main content
FDIC-Insured logo
FDIC-Insured - Backed by the full faith and credit of the U.S. Government

Avoid These Mistakes When Buying New Construction

By: Old Point National Bank / 27 Feb 2019
Avoid These Mistakes When Buying New Construction

Starting out fresh with a new construction can offer you enhanced safety, energy efficiency, amenities and layouts more suited to modern lifestyles. You'll also have the ability to customize spaces. However, if you're not careful, costs and expectations can spiral out of control. Here are a few costly mistakes to avoid when buying a new construction.

Choosing Upgrades That Won't Increase Value
When choosing the options and add-ons for your home, stick with upgrades that will boost the home's value rather than merely making the home look nicer. For example, quartz countertops and hardwood floors are safe investments.

Assuming You Can't Negotiate
Many believe that homebuilders won't negotiate with buyers. However, you can negotiate price, lot lines, loan fees and other items. A realtor who specializes in new construction can give you the extra confidence in negotiating with builders.

Not Budgeting For Items You're Responsible For
Anticipate and budget early for expenses you'll be responsible for such as landscaping and light fixtures. Clarify what is and isn't standard in your new home so there'll be no surprises.

Find more items

Share
Leaving Site

You are now leaving the oldpoint.com website

The link you clicked will take you to a third-party website. We do not control the content of this site, nor do we endorse or guarantee the products, information or recommendations provided by the linked site, Please review their Privacy Policy as it may differ from ours. The linked third-party website may provide less security than the bank's website.
Notice

You are entering the Old Point Wealth Management website

As of September 1, Old Point Wealth Management became a Towne Family Company. For information regarding retirement plans for yourself or your business, please visit Towne Wealth Management. For help with your investments, please reach out to your broker or find your nearest broker at our Newport News or Williamsburg office.
Notice

You are entering the Towne Insurance website

As of September 1, Old Point National Bank became a division of TowneBank. We recommend considering Towne Insurance as your trusted partner. Insurance products are not insured by the FDIC, are not deposits, and may lose value.
Notice

You are entering the TowneBank Mortgage website

As of September 1, Old Point National Bank became a division of TowneBank. We recommend considering TowneBank Mortgage as your trusted partner.
Leaving Site

You are now leaving the oldpoint.com website

As of September 1, 2025, Old Point National Bank became a division of TowneBank. We invite you to explore career opportunities at TowneBank and all Towne Family Companies here.
Notice

You are entering the Old Point Wealth Management, A Towne Family Company website

Investment products are not insured by the FDIC, are not deposits, and may lose value.