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

Don't Miss These Things When Buying a Brand-New Home!

By: Old Point National Bank / 03 Nov 2017
Don't Miss These Things When Buying a Brand-New Home!

Follow this checklist when purchasing your brand new home!

  • Pre-drywall home inspection – This is especially important if you're purchasing a home that is being built from the ground up. This inspection makes sure that electrical outlets, cable and internet access lines and other electrical features are working properly. It's better to know before the dry-wall is hung than after.
  • Look past the high-end finishes – Don't be easily wowed by the high-end finishes you saw when browsing model homes. Some of these finishes can dramatically increase the price of the property. Make a list of your must-haves and nice-to-haves and do your homework. Look for other finishes that are just as great and less expensive.
  • Know the details of the new-home warranty – Most new homes come with a warranty that covers various things in the home but not everything is covered for the same length of time. Know the different coverage details and plan for their expiration to save money down the road.
  • Read the HOA rules – Many new homes are part of a homeowners association. HOAs often charge a separate fee that could range from a few hundred dollars a year to thousands of dollars. The rules of the HOA may restrict what you can do to your home. Review the HOAs documents with your real estate agent.
  • Expect delays during the building process – New home finishes can cause delays for weeks and even months after the original contract. If you're renting, be prepared by having a month-to-month lease or, if you're selling an existing home at the same time, have contingencies in place.

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.