Thinking of Buying New Construction in Seattle?

Sometimes you just need to move at your own pace, and if that pace is taking extra time to make the right decision, it is okay by me!  

Buying a home is complicated and can be overwhelming.  I worked with a couple recently who were first time buyers with a deadline. Their lease was ending, but they made sure to start the hunt about 8 months prior to it expiring. They were also eager to hit the start button on the next chapter of building a life together, as a young and engaged couple. 

This couple had a clear vision for what they wanted: new construction, in-city living, walkability, access to the connector, and a home that had enough rooms to host extended family and friends. 

Sounds easy, not really! 

New construction is very appealing because it is turnkey with the latest and greatest bells and whistles. Young and busy professionals alike can buy and move in without the worry of future and sometimes costly renovations. To get my buyers what they wanted I started to look at Single Family Residences (SFR) with an attached Additional Dwelling Unit (ADU) and Detached Accessory Dwelling Unit (DADU).

In the greater Seattle area, this new type of construction is becoming more popular. We are short 1,000,000 homes in Seattle, so high density housing is the name of the game.

These homes, even though single family residences, are zoned, permitted, and operate as a small condominium of usually three to six units in a complex. Sometimes the site can get bigger than that, but the HOA will always consist of one SFR, one ADU, and one DADU. They are listed on the Northwest Multiple Listing Service as both a Condominiums and a Multi Family sale.  When it is time to write the offer, it is with the Condominium Purchase and Sale Agreement.

Since this type of new construction is roughly two years old, there was a learning curve for my clients.  They had to come to terms with the fact that this was not going to operate like home resale. 

During our search process, we reviewed a lot builder warranties, builder addendum's, CC&R's, and Condo Declarations.

Navigating and making sure my clients understood the terms of all these different legal documents was time consuming and sometimes difficult.  But the fine print matters. Even though these clients loved some of the properties, we would forego making an offer if we the rules and regulations in the fine print didn’t meet their requirements. 

Making sure my clients were protected and could walk away was an important consideration for me. Often times when you submit an offer, you are waiving your right to an inspection contingency. And, just because a home is new construction does not mean that it will be perfect. In one case we submitted an offer and it was inspected, but we we found mold in the attic during our personal inspection.  We were able to get out of that deal because I made sure I understood all the paperwork before putting in an offer.

We did finally find the perfect home for this couple. Not only did it check all of their boxes, the fine print was clean as well. They are now the proud owners of the townhouse at 450 25th Avenue E, MLS 2204151.

Buying a home is never easy, and with all the changes to zoning in Seattle it is increasingly more important to arm yourself with a professional that prioritizes educating their buyers so they can make informed and sound decisions. 

If you have questions about any new construction in the area, I would love to help!