THE HOMEBUYING EXPERIENCE - PDF Free Download

THE HOMEBUYING EXPERIENCE A STEP BY STEP GUIDE TO HOME 2018 EDITION

CONTENTS CONGRATULATIONS! You have made the decision to purchase a new home! We developed this guide to provide you with an understanding of what to expect in the upcoming months. Your new home is in reach! THE AKEL APPROACH... 1 THE SEARCH... 3 FINANCING... 4 DESIGN... 6 THE CLOSING... 13 WELCOME HOME... 16 INSPECTION CHECKLISTS & MOVE-IN... 20

THE AKEL APPROACH THE BENEFITS OF AN AKEL HOME YOUR HOME, YOUR WAY: Create the home of your dreams! Select your floor plan, elevation and color schemes and several interior and exterior finishes through the Design Studio. DESIGNED FOR TODAY: A new homes comes with: an open floor plan for entertaining and socializing, oversized chef s kitchens with state of the art appliances, expansive bedrooms and walkin closets, mesmerizing bathrooms, smart home technologies and much more. QUALITY PARTNERS: We are proud to work with the leading industry brands to bring the most innovative and best products to our homes. Every home comes with quality you can rely on so you and your family can create a lifetime of memories. 1

THE AKEL APPROACH ENERGY EFFICIENCY: Through the implementation of the newest construction techniques and the use of the highest quality building materials, new homes result in better comfort for your family, and lower utility bills. Save the planet and your wallet. BUILDER WARRANTY & CUSTOMER CARE: Akel Homes participates in the Homebuyers Warranty program. This provides you with a one year workmanship and materials, two year mechanical systems, and ten year structural warranty. The appliances in your home are also warrantied by the manufacturer. On top of this, every home comes with AkelCare, a one year customer satisfaction survey program. LENDER AFFILIATIONS: Over the years, Akel Homes has built relationships with the leading mortgage companies to ensure our customers are provided with the most competitive financing terms available in the market. 2

THE SEARCH ASK YOURSELF We recommend that you ask yourself these important questions. 1. What location do you prefer? 2. What type of home attached, detached, single-story or multi-story? 3. What is the profile of the community amenities, schools, shopping and recreation? 4. What type of amenities are important to you? Research the amenities available in each community. Many homes offer swimming pools, clubhouses, parks, trails and playgrounds. 3

FINANCING THE MORTGAGE PROCESS There are several types of loans that are available to you when buying a home. FIXED VS. ADJUSTABLE: The two most common types of mortgages are the fixed-rate mortgage and the adjustable-rate mortgage (ARM). Under a fixed-rate mortgage, your interest rate never changes during the life of the loan. On the contrary, an adjustable-rate mortgage utilizes an interest rate that is periodically adjusted over the loan term. For example, changes in the economy can cause your rate to change under an ARM. FIND YOUR LENDER: Research mortgage lenders or one of our builder s preferred lender. CALCULATE YOUR MONTHLY PAYMENT: Different interest rates will affect your monthly payment. 4

FINANCING PRE-APPROVAL VS. PRE-QUALIFICATION A mortgage pre-approval is a detailed study of exactly how much you can afford. On the other hand, a mortgage prequalification is just a simple estimate of what you can afford. By obtaining a pre-approval, the lender is signaling that you are ready to purchase your home. As a result, a mortgage preapproval can expedite the purchase of your new home and elevate your status to the homebuilder. SIGN THE PURCHASE AGREEMENT Sign the Purchase Agreement and schedule your Initial Design Consultation and future Design Appointments. Note that your Purchase Agreement will outline design deadlines. 5

DESIGN THE DESIGN STUDIO Each community boasts its own Design Studio that is filled with options and upgrades such as colors, finishes, fixtures, cabinets, countertops, flooring and more. Get inspired and visit the Decorator Models and the Design Studio in your preferred community. With the help of our experienced Design Consultants, you will feel that you have created the home of your dreams. 6

DESIGN DESIGN STUDIO: FREQUENTLY ASKED QUESTIONS Q: WHAT IS THE DESIGN STUDIO? A: Each community boasts its own Design Studio. All of the personalization upgrades and options available for selection in your preferred community are showcased there. A Design Consultant will assist you in creating a personalized home within your budget. Q: WHAT TO EXPECT DURING MY VISIT? A: A Design Consultant will assist you each step of the way in defining your ideal home, selecting finishes, while working within your budget. The Design Studio appointment(s) is engaging and fun. 7

DESIGN DESIGN STUDIO: FREQUENTLY ASKED QUESTIONS Q: WHAT IS THE DESIGN PROCESS? A: The Design Process is broken down into three steps: 1. Prior to the contract signing, all structural options must be finalized. This is done early on to prevent delays in construction. 2. After the Purchase Agreement is signed, the homebuyer will schedule and attend an Orientation Appointment to familiarize them with the selection offerings. 3. A few days after the Orientation Appointment, the homebuyer will attend a First Selection Appointment. If the option selections are not finalized on this date, the homebuyer must schedule and attend a Final Selection Appointment. Review your contact to understand the Design Deadlines! 8

DESIGN DESIGN STUDIO: FREQUENTLY ASKED QUESTIONS Q: IS AN APPOINTMENT NECESSARY TO VIEW THE DESIGN STUDIO? A: No. Even before you purchase a home, you can come in and preview the selections during business hours. However, in order to receive personal attention, an appointment is necessary. The Design Process may require several appointments as outlined in your Purchase Agreement. The first appointment may last around 3 to 4 hours as you learn about your preferences and style. Subsequent appointments may be shorter if you are simply finalizing your selections. Q: HOW TO PREPARE FOR YOUR DESIGN STUDIO APPOINTMENT? A: Imagine how you and your family will utilize each room. Next, visit our decorated models and gather inspiration from the option showcased and take a note of them. Bring in any photos to your Design Studio appointment to assist your Design Consultant in understanding your style. Design Studio appointments can take a few hours so make the proper arrangements so that you can focus on the appointment. 9

DESIGN DESIGN STUDIO: FREQUENTLY ASKED QUESTIONS Q: HOW MUCH SHOULD I EXPECT TO SPEND ON MY DESIGN OPTIONS? A: This is all up to you! Every homebuyer has a different desired budget. Our Design Consultant will work with you to stay within your desired budget. Q: WHAT CHOICES ARE AVAILABLE TO SELECT FROM? A: The options selections vary by community. Typical selections include cabinets, counter tops, flooring, lightning, appliances, and much more. Some structural options such as floor plan modifications, lanai extensions and pools may be available. Our homes are tailored for your lifestyle. 10

DESIGN DESIGN STUDIO: FREQUENTLY ASKED QUESTIONS Q: WHAT BRANDS DOES THE DIESGN STUDIO CARRY? A: Akel partners with a variety of reputable companies such as Moen faucets, Sherwin-Williams paint, General Electric appliances, and Mohawk flooring to list a few. Brands and option offerings may different between communities. Q: CAN I ROLL MY DESIGN OPTIONS INTO MY MORTGAGE? A: In most situations, the answer is yes. As long as you meet your lender s criteria and are able to meet your monthly payments, you can roll your design options into your home loan. 11

DESIGN STUDIO CHECKLIST PREPARE FOR DESIGN APPOINTMENT Your appointment will be scheduled at contract signing. Refer to your contract to understand your design deadlines. Allocate up to three hours for your appointment - it will allow us to explore your ideas and make the most of your appointment! Prepare a list of questions - like what are my cabinet upgrade options? FIND YOUR INSPIRATION Visit your preferred community s model home and take pictures of your favorite bath fixtures, cabinets, flooring, counter tops, and so on. Bring pictures of your favorite styles, colors, or specific items to your appointment. IMAGINING YOUR NEW HOME Print out the floor plan of your future home. Consider how you plan to utilize each room and note it on the plan. Bring your camera (or phone). By capturing photos of your favorite finishes - you ll always have a reference to bring back home. All decision-makers are at your appointment. If you and your co-buyer are a team, don t make decisions without the other! Take a note pad with you and expect to take a lot of notes. Schedule daycare for your children or pets - as needed. FOLLOW UP Mark ongoing deadlines on your calendar and ensure that all your design decisions are submitted on time. Variation in finishes is normal, especially with natural materials - giving your home its own unique look and feel. 12

THE CLOSING It is time to purchase and close on your new residence. This step involves several moving parts but is fairly straightforward. BEFORE CLOSING In the weeks prior to the closing, we will send a letter with the closing date. Additionally, around this time, your lender will lock in the interest rate on your mortgage. You will need to arrange for residenceowners insurance coverage and provide a copy of your policy. CLOSING COSTS Contact your lender and obtain an estimate of the closing costs. Closing costs are fees associated with closing a real estate transaction. They fall into several categories: LENDER FEES: Costs associated with the lender to close a mortgage loan. TITLE FEES: Fees for the title or closing agent. ESCROW/IMPOUNDS: Money collected to pay for your taxes and insurance. 13

THE CLOSING WHAT TO BRING TO CLOSING At closing, you are required to bring your driver s license, passport, or other government issued photo identification. You must also bring a cashier s check in the amount of the funds needed to close the loan. The final amount of funds needed along with the instructions is provided to you by the closing agent. You become the official owner of your new residence once the sales documents and disclosures are signed and the following occurs: NEW RESIDENCE ORIENTATION: Meet with a customer service representative on the day of the closing to ensure that your residence is in working order. Your customer service representative will also discuss our Warranty and how to care for your residence. During the New Residence Orientation, utilize our Inspection Checklist attached in this Guide. REVIEW CLOSING DOCUMENTS: Carefully review the disclosures and ask questions. At closing, verify that all of your information is accurate - these are legal documents! 14

THE CLOSING SIGN DOCUMENTS: Review and sign all title and closing documents. Maintain these documents in a easily available location in the future so that you may reference them. HOMEOWNER CARE MANUAL: We created a Homeowner Care Manual that is always accessible on our website. Reference it for tips on how to properly repair and care for the sophisticated features of your residence. PICK UP YOUR KEYS: Visit the sales office to pick up your keys and move into your new residence! 15

WELCOME HOME HOME HAS NEVER FELT SWEETER You now own your new home! Now is the time to move in, decorate your home to your liking and build a lifetime of memories. All of the documents you receive should be organized and easily accessible in case you need to reference them. Prior to moving in, refer to our Before Move-In & Move-In Checklist. It will help you remember everything that must be done prior to moving into your new home. After you move in, it is our priority to ensure that your home exceeds your expectations. AkelCare was developed to ensure customer satisfaction. We will contact you after your first, sixth, and twelfth month after you purchase your new home to make sure your needs are taken care of. 16

WELCOME HOME BUILDER WARRANTY All of our homes come with the 2-10 Home Buyer Warranty (2-10 HBW), one of the most comprehensive warranty programs in the marketplace. The 2-10 Home Buyers Warranty provides 1 year of workmanship, 2 year of systems, and ten years of structural warranty. The program has covered over 5.5 million new and pre-owned homes, and has a network of more than 10,000 authorized, independent service contractors. They partner with thousands of the nation s finest real estate professionals, home builders and service contractors who consider their coverage the industry s most comprehensive structural and systems. Only the signed Limited Warranty creates any warranty. 17

INSPECTION CHECKLIST EXTERIOR: Ensure that the paint, doors, driveway, architectural detailing, windows, and landscaping are sufficient. INTERIOR: Examine the interior features of your home for any damages with painting, grout, fireplace, flooring, doors, tile, mirrors, counter tops, staircases, cabinets, and any additional woodwork. APPLIANCES: All appliances such as range, hood, move, microwave, and dishwasher are properly working. Your customer service representative will explain how to use them. SWITCHES: All switches are in working order. ELECTRICAL: All interior electrical such as light bulbs, TV, and network jacks are in working condition. PLUMBING: All plumbing fixtures such as faucets, toilets, showers, and tubs are properly functioning. Check for any damages and scratches. HEATING VENTILATING & AIR CONDITIONING: Ensure that air conditioning and heaters are properly installed and working. GARAGE DOORS: Observe that the garage doors are installed and functioning. Make sure you received the correct number of garage door openers. 18

INSPECTION CHECKLIST NOTES 19

BEFORE MOVE-IN CHECKLIST APPLIANCE WARRANTY: Submit warranty information on your new home s appliances BANKS: If necessary, transfer banks. CABLE/SATELLITE: Contact to set up an account DRIVERS LICENSE: If necessary, change your driver s license and vehicle registration FRIENDS & FAMILY: Notify friends and family of your change of address. GAS & ELECTRIC: Contact to set up an account INTERNET PROVIDER: Contact to set up an account LOCAL EMERGENCY NUMBERS: Research local emergency numbers in the area and store them in an accessible place MEDICAL PROFESSIONALS: If necessary, research local doctors, dentists, etc. POST OFFICE: Send a Change of Address notification SERVICE PROVIDERS: Notify all service providers such as domestic help, landscapers, regular delivery services SCHOOL: Contact school to transfer records to new school SUBSCRIPTIONS & MEMBERSHIPS: Change the address of any subscriptions and cancel any membership you have VOTE: If necessary, register to vote in your new location WATER: Contact to set up an account APPLIANCE WARRANTY: Submit warranty information on your home s new appliances 20

BEFORE MOVE-IN CHECKLIST APPLIANCES: Understand your appliances and how they work. Also check the fire and smoke alarms. ELECTRICAL & HVAC SYSTEMS: Familiarize yourself with the electrical and mechanical systems of your new home (electric panel, HVAC system, etc) HOME CARE GUIDE: Review the home care guide and structural warranty information provided to you at closing PROTECT FLOORING: Before the movers unload, protect flooring, corners and other locations with padding and carpet protectors WATER: Test the faucets and if necessary make any desired adjusements to the settings of the water heater 21