I like new construction. A lot of my clients buy it, especially in the new towers going up around West Palm Beach. But "brand new" can make smart people skip steps they'd never skip on a resale.
Most of what decides whether a new home was a good buy gets settled before you pick a single finish. Here are the five areas I look at with every buyer.
1. New isn't the same as inspected
The city inspects for code compliance. That's a minimum, not a quality review. I recommend an independent inspection before drywall where the builder allows it, and again before closing. For a condo, ask what third-party inspections and engineering reports exist for the building.
Then use your warranty period. Make a list, send it in writing, and follow up.
2. The builder's contract isn't the standard contract
Builder and developer contracts are written by their attorneys, for them. Deposit terms, delivery-date flexibility, change-order pricing, and what happens if construction runs late are all spelled out there, and they vary a lot.
For Florida condos, the developer has to provide specific disclosures. The buyer can generally cancel in writing within 15 days after receiving all of them, and the developer can't close until 15 days after the contract is signed and the documents are delivered. Have a Florida real estate attorney read the contract before you fund a deposit.
3. Your tax bill will probably change
The tax estimate on a new home is often based on the land, or on the prior year before the building was finished. Once the home is assessed at full value, the bill can rise meaningfully. Ask for an estimate based on your purchase price and the current millage. If you're buying a primary residence, apply for the homestead exemption on time.
4. Extra districts and fees
Some newer single-family communities sit inside a Community Development District, which adds its own assessment to your tax bill. Condos and master-planned communities may have more than one association. Add every recurring fee to your monthly budget so there are no surprises.
5. Resale while the builder is still selling
If you need to sell while the developer still has inventory, you're competing with brand-new units and builder incentives. That doesn't make it a bad buy. It means you should plan your hold period honestly.
Would I buy new construction?
Yes, with the right contract, a clear picture of total cost, and a plan for resale. For the luxury condo side in West Palm Beach, I keep a running list of new developments with starting prices and delivery dates. If you'd rather compare against finished buildings with a track record, look at resale towers on Flagler Drive.
— Joel Poulin, Broker Associate | The Corcoran Group · (561) 556-3668