Pall Spera Company Realtors-Stowe, VT
Teresa Merelman, Broker, Pall Spera Company Realtors-Stowe, VTPhone: (802) 793-5171
Email: [email protected]
Email: [email protected]
The new construction home-buying process differs from the buying process for an existing home. While many of the steps are similar, new construction homes come with more specific requirements.
Here is a basic step-by-step guide to the buying process for a new construction home:
With new construction homes, you have to account for your ongoing expenses while the home is still being built. Whether this means your current home expenses or temporary residence, it’s crucial to plan your finances before you get started on the process.
Getting preapproval for a mortgage loan is a common early step in the home-buying process. Buying a new construction loan requires getting a construction loan. These loans can have different requirements depending on where you’re building your new home.
While it might seem like new construction doesn’t require help from a real estate agent, hiring your own trustworthy agent can help you when working with a builder.
Real estate agents should also be involved to help protect you from any uncanny legalese or process questions.
If you have not already found a prospective home builder in your area, it’s time to research your options. Be prepared to ask about their experience in the area and with your particular style of home.
New construction homes usually have different timelines and pricing based on the level of customization you want. The three main types of construction are custom, semi-custom and spec.
Hire your own home inspector to examine your new construction home when it’s finished. This will make sure you’re getting an unbiased opinion on the home condition.
For new construction, closing day is the day you’ve finished all of your financing documents and the home is physically ready for move-in. It’s a good idea to establish regular checks on the building process before the day arrives.
Buying new construction can have many benefits over buying an existing home. However, it’s important to know the differences in terms of process. Keep these steps in mind when preparing for your own home-buying experience.
Teresa's beginnings were at Fort Belvoir, Virginia. She was child #5 of 8 and born into an Air Force family that moved all over the United States but usually ended up back in the Washington, D.C. area. Teresa attended Miami University in Oxford, Ohio and received her bachelor's degree in business from George Mason University, in Fairfax, Virginia. Some of her prior careers include: computer buyer in Fairfax, Virginia; Deputy Clerk at the U.S. District Court in Denver, Colorado; Police Officer in Steamboat Springs, Colorado; and Bed & Breakfast owner in Stowe, Vermont. Teresa obtained her license as a Realtor® in 1998. She has been through many ups and downs in this profession and continues to learn every day. She very much enjoys the real estate profession and the wonderful people she has met and assisted along the way. In order to serve her clients and customers, Teresa continually attends classes and seminars. Some of her Designations and Certifications include:
Teresa has also served and continues to serve on several boards:
In 2007, Teresa was named Vermont Realtor of the Year.Teresa and her husband, a local attorney, moved to Stowe in 1987. They had two sons and Stowe has been their home for the past 36 years. She still feels the Stowe area is a wonderful place to raise a family, there's always something going on. Teresa can often be found behind the lens of her camera documenting the beauty of the area and its many events.As an update, Teresa's older son is now a Doctor/resident at the University of New Mexico's Emergency Management Program. Her younger son graduated from James Mason University and currently resides in Chicago, IL as a supervisor for OKTA.
