New Construction Buyer Guide: What to Expect from David Weekley, KB Home & Toll Brothers
Buying a newly built home follows a different process than purchasing an existing property. Major national builders like David Weekley Homes, KB Home, and Toll Brothers have standardized procedures that protect both the builder and the buyer. Knowing what to expect upfront can save you time, money, and stress.
When you sign your purchase agreement, you will provide an earnest money deposit showing good faith. This is typically held in escrow until closing.
Typical earnest money amounts: David Weekley $1,000 to $5,000, KB Home $500 to $2,000, Toll Brothers $5,000 to $10,000 or more for luxury homes.
After selecting your home, you will work with a design consultant to choose upgrades and finishes. Option deposits are usually non-refundable once orders are placed.
Most major builders have affiliated mortgage companies offering incentives like closing cost credits and rate buydowns. You are not required to use the builder lender, but incentives may be lost.
Get pre-approved before visiting communities. Most builders require pre-approval letters, which are typically valid for 60 to 90 days.
Key documents include the Purchase Agreement, Addenda and Disclosures, Financing Addendum, Design Agreement, and Pre-Closing Documents. Read the contract carefully, as builder contracts favor the builder.
Typical timeline: Contract to design appointment takes 1 to 2 weeks. Design selections completed in 2 to 4 weeks. Construction start in 2 to 6 weeks after design lock. Construction completion in 4 to 8 months depending on stage and customizations.
Build stages include foundation, framing, rough-in, insulation and drywall, finishes, final inspection, and pre-closing walkthrough. Most builders provide periodic updates but access varies by builder.
Usually scheduled 1 to 2 weeks before closing, this is your chance to identify issues before taking ownership. Bring your contract, options list, and take photos. Check all selected options, appliances, fixtures, paint, flooring, and systems.
On closing day, bring government-issued ID and certified funds. Receive keys, garage openers, and warranty documents. New homes come with builder warranties covering workmanship (1 year), systems (2 years), and structural (10 years).
