Buying New Construction? What to Expect from a Walkthrough

Estimated reading time: 3.5 minutes

When it comes to building a home, you want everything to be perfect. After the time you spent planning, envisioning, and designing, getting ready for the walkthrough can feel like the final piece of the puzzle.  

What Happens During a New Construction Walkthrough?

A new construction walkthrough is often called a blue tape walkthrough. The homebuyer, their Real Estate Agent, and a builder representative will go through the home and mark off aspects that need to be fixed or inspected by using blue tape. The visual cue of brightly colored tape helps a builder spot and fix an issue.

Generally, a walkthrough of new construction is more in depth than one for an existing home. Because you’ll be the first person using everything, it’s important to take your time and speak up if things don’t meet your expectations.

How Long Does a Blue Tape Walkthrough Take?

According to experts, a walkthrough of a new construction home can run anywhere from a half hour to around two hours. This gives you plenty of time to ensure everything in the home is up to your standards.

Additionally, experts recommend bringing numerous tools with you will help you feel more prepared. At minimum, it’s a good idea to bring a notebook for notes, something to plug into electrical outlets like a phone charger, a level tool, and any files or documents you have about the home. Make sure all fixtures, paint colors, and other important details are the way they were promised.

Who Attends the Walkthrough?

You can expect your Real Estate Agent and either the builder or a representative to join you. This allows everyone to check on the status of the home. Together, you can work to identify any improvements before move-in day arrives.

What Should I Look for During the Walkthrough?

You’ll test everything in the house as you walk through it. Do the light switches work? Are the appliances hooked up to power and turned on? Do the doors and windows open and lock correctly?

After the walkthrough is complete, make a list of everything you would like to have addressed. This documentation will help establish everyone’s expectations about what improvements are necessary.

How Much Blue Tape is Too Much?

It’s common to find minor problems during your walkthrough. In fact, Redfin reports that the average homeowner may find between 30 and 40 minor issues. You have the right to see that all repairs are completed before you sign your closing paperwork.

Don’t hesitate to ask important questions to the builder or builder representative.

• What is the timeline for each repair?
• Who will be performing the repairs?
• What is the process if I find something in need of repair after I move in?
• Will there be an additional walkthrough after the repairs are completed?

Are New Construction Homes More Expensive Than Existing Homes?

According to an article released on July 31 by National Mortgage Professionals, existing homes now cost nearly $20,000 more than new builds. This is in part due to existing homes pushing up prices because of low supply. Home builders are also offering incentives, helping to moderate new home prices to be more competitive.

Realtor.com has similar sentiments in their data. An article from August 7 says a typical new construction home costs just 7.8% more than a typical existing home. However, square footage prices show a different trend. Nationally, new builds typically list for $219 per square foot, which is less expensive than $227 for existing home square footage.

Home Financing as Unique as Your Needs

At Homestead Funding, we understand that your financing needs aren’t one-size-fits-all. Just like how someone may build a home to ensure their needs are met, our Loan Originators will help you with your personalized home financing. Ready to start? Contact us today!