Buying Your Home

Home Ownership Made Easy is more than just a slogan to the Princeton Classic Homes family of employees. We realize purchasing a new home can be a confusing process, especially if you’re a first-time homebuyer. We strive to make the purchase of your new home as smooth and worry-free as possible. Use these resources below or contact us if you have any questions.

Homebuying Tips

The purchase of a home is an important one. A home is where you will live and make the memories of your life. It is important to take your time, plan, and organize your finances. The purchase of a new home is exciting and should be a fun experience.

1. GET YOUR FINANCES IN ORDER

Contact a preferred lender and get a Good Faith Estimate. Determine how much you can afford towards a mortgage loan each month.

2. DO YOUR HOMEWORK

Figure out where you want to live and research the area. Consider factors such as schools, churches, shopping, dining, hospitals, and proximity to work.

3. MAKE A WISH LIST

Prioritize what features of your new home are most important to you.

4. CONSIDER AN INVENTORY HOME

Many things can affect the time it takes to build your new home, such as weather and availability of labor and supplies. Purchasing an inventory home eliminates much of the variability in the homebuilding process and allows you to lock in to current interest rates.

5. DON'T WAIT. HOMES SELL VERY QUICKLY.

The home you love today and think about tonight may be purchased today by the family who loved it yesterday and thought about it last night.

6. WATCH YOUR SPENDING

Don’t make any large purchases or take out any additional loans. Doing so may change your ability to qualify for the loan reflected in the Good Faith Estimate.

7. PLAN YOUR MOVE

Create a timeline to avoid closing too early or too late. Plan when to pack, obtain your homeowner’s insurance, and set up utilities, cable, phone, etc.

8. HAVE FUN!

Purchasing a new home is an exciting experience. Have fun with it!

Congratulations on the purchase of your new home.  Princeton Homes is dedicated to building homes of exceptional quality and providing customers with unparalleled service.  We take this commitment seriously.

At a glance, the process of purchasing a home may seem a bit overwhelming.  We understand how much time, money and research you spend making decisions to personalize your home.  Our goal is to partner with you every step of the way to ensure your overall comfort and satisfaction with your decisions.

The following guide provides an outline of the important steps that take place from the moment you sign your contract to the delivery of the keys to your new home.  We look forward to guiding you through each step, answering your questions and diligently working with you until we are able to deliver your beautiful new home. 

Your involvement throughout the entire process is integral to our ability to deliver your home to your satisfaction and we request that you follow the timelines enclosed.

Now, let us show you how our “Contract to Keys” commitment makes your choice in purchasing a Princeton Home a thoroughly rewarding experience from start to finish.

Our best to you and your family,

Mickey Pizzitola
Houston Division President

The Purchasing Process

#1 - The Contract

Completed today

Your “Contract to Keys” experience begins when you select a floor plan and an elevation on the home site that best suits your needs.

We will finalize all Structural Options when you sign your Contract, so that we may submit the architectural drawings necessary for engineering and permitting as expediently as possible.

Structural Options:

  • Structural Options are pre-approved selections that modify the original floor plan design.
  • Examples of Structural Options include: garage options, exterior doors, optional rooms, fireplaces, bath, porch and balcony additions.
  • These choices will be documented on a Option addendum and the cost will be added to your original contract price. Structural Options do not require deposits.
  • All Structural Options are final once submitted with your contract.

Selections Timeframe and Deposit Requirement Acknowledgement Form Review

  • The Selections Timeframe and Deposit Requirement Acknowledgement Form introduces you to our Design Center appointment parameters, deposit schedules and payment options.
  • Your Sales Professional will review this form, and how you will be contacted by the Design Center to schedule your appointments. Selected communities will choose their options in the convenience of the model home.
  • Once your contract has been accepted by Princeton Homes, you will receive a confirmation e-mail with the “Preparing for Your Appointment” web site link within 2 business days.

#2 - Loan Application

Completed within three (3) business days

Making Loan Application

  • Your Contract requires you to make loan application within three (3) days from Contract date.
  • Your Sales Professional will provide you with the website information to make an on-line loan application today a list of required documents along with the business card of a First Choice Lending Group Account Manager who will assist you with preparing all documentation required to complete the loan process.
  • Contact First Choice Lending Group (FCLG), our approved lender, to initiate your loan application process.

First Choice Lending Group
10410 Windermere Lakes Blvd.
Suite 410-A
Houston, TX 77065

Office: (281) 671-9004
Fax: (832) 487-0940
www.firstchoicelg.com

Once you have completed your loan application and supplied all of the necessary information, conditional loan approval will be delivered to you within five (5) business days.

Helpful Mortgage Tips

  • As stated in your contract, please provide all conditions and information satisfying your loan approval within 3 days of request from your lender.
  • Lender may require additional information throughout the building process.
  • Please consult your FCLG Account Manager before changing employment or making any large purchases.
  • Locking your interest rate is at your own risk.

Cash Purchases

  • If you plan to pay cash for your home, we require verification that funds are available to be submitted to your Sales Professional within three (3) days of signing your contract.

#3 - Exterior Color Selections

Completed with sales professional within seven (7) days of contract

  • Because exterior materials are ordered early in the building process, your Sales Professional will assist you at the model home in selecting all Exterior Color Selections.
  • Exterior Color Selections include pre-approved choices of brick, stone, siding, stucco, metal roof color, trim color, mortar color and exterior paint color.
  • Your first and second choice exterior selections must be submitted within seven (7) business days of your signed contract. An upgraded upgraded brick or stone, will require a deposit.

#4 - Home Technology Appointment

Completed within 14 days of contract

The Home Technology Experience

  • If you are choosing a built to order (BTO) home you will have the opportunity to meet with our home technology consultants at our technology showroom. Here you will select your secutity, home automation, home theater and stereo options. In addition they will assist you with any additional wiring needs.
  • Our showroom is staffed with knowledgeable and experienced Technology Consultants who are ready to guide and assist you in the personalization of your home.
  • Appointments: All appointments are conducted at our technology showroom:

    5829 W. Sam Houston Parkway N
    Houston, Texas 77041

    Phone: (713) 466-4999

    Hours of Operation: Monday-Friday 9am-7pm
  • As a courtesy to you & other clients, please arrange for outside child care. We want to provide you with our undivided attention & help you concentrate on your home technology appointment.

What to Expect

Our Home Technology Consultants will introduce you to what is included in your home and available options and the pricing of those options. All selected options will be added to your options addendum as well as the appropriate diagrams. You will sign your diagrams at your technology appointment. You will sign your re-write at the conclusion and give your options deposit at the conclusion of your Design Center appointment.

Deposits

  • You will be required to place a minimum $2500/$3500 (Series specific) or 50% deposit, which ever is greater, on all selections chosen at the time of the appointment.
  • Acceptable forms of deposit are personal checks or cashier’s checks

#5 - Design Center Appointment

Completed within 14 days of contract

The Design Center Experience

  • Design Center is pleased to provide an outstanding selection experience in a professional environment. Selected communities will choose their options in the convenience of the model home. Your Sales Professional will advise you if you are purchasing your home in one of these communities.
  • Our showroom is staffed with knowledgeable and experienced Technology Consultants who are ready to guide and assist you in the personalization of your home.
  • Appointments: All appointments are conducted at our technology showroom:

    5829 W. Sam Houston Parkway N
    Houston, Texas 77041

    Phone: (713) 466-4999

    Hours of Operation: Monday-Friday 9am-7pm
  • Please arrive 15 minutes prior for your appointment and bring any items (pillows, fabrics, photos, etc.) that will assist you in making interior design selections regarding color and style.
  • As a courtesy to you & other clients, please arrange for outside child care. We want to provide you with our undivided attention & help you concentrate on your Design Center appointment.
  • Additional Design Services: Design Appointment hours are offered at a set number of design hours free of charge for your convenience. If needed, additional appointment services are available at the rate of $90.00 per hour as long as all selections are completed within our fourteen (14) day commitment time frame.

What to Expect

Our Design Consultants will introduce all standard features and options available for the series of your home. Your Design Consultant will make pricing available for options, as well as assist in creating a unique design theme that expresses your individual taste and personal style.

Standard features & options can include:

  • Cabinets
  • Countertops
  • Flooring
  • Plumbing Fixtures
  • Lighting Fixtures
  • Hardware
  • Stairs
  • Fireplace Mantles
  • Appliances

In order to provide the best quality and most up to date options available in the industry, price, product and manufacturer are subject to change without notice. As a result, Princeton Homes must reserve the right to change or discontinue any standard or optional feature without notice.

It is not uncommon to see certain selections installed in our model homes and homes under construction that may not be available.

Helpful Design Tips

  • Spend time touring Princeton model homes and homes under construction in Princeton neighborhoods. This is a wonderful opportunity to see how varying designs are executed and how colors appear once installed.
  • Please write down any addresses that interest you to assist you in communicating your preferences to us.

Deposits

  • You will be required to place a minimum $2500/$3500 (Series specific) or 50% deposit, which ever is greater, on all selections chosen at the time of the appointment.
  • Acceptable forms of deposit are personal checks or cashier’s checks.
  • All deposits collected are non-refundable and certain color selections may require additional deposits at the time of your selection.

Finalizing Selections

We enjoy the privilege of being your design team and remain diligent to ensure that you are completely satisfied with all of your selections. However, you have final responsibility of reviewing the documentation to ensure that all verbal communications between you and your Design Consultant, regarding your selections are documented in writing.

Your signature will serve as final confirmation that all of your selections for your home are included and all other selections have been declined.

Following a 24-hour review window, your selections will be electronically ordered and therefore, all your decisions become final & we are ready to begin building your home.

#6 - Final Sales Price Amendment

Completed during design center appointment

By the end of your final Design Center appointment, your Design Consultant will review all of your selections and amend your original sales price to include the final cost of all Design Center options.

All Selections Become Final

  • For your convenience, all deposits collected at your Design Center appointment will be applied to your down payment or closing costs.
  • Your final Sales Price Amendment will be completed at your final Design Center appointment.

#7 - Pre-Start Orientation (PSO)

Completed before construction begins

  • Your Sales Professional will schedule your Pre-Start Orientation (PSO) at the model home, where you will meet your Builder. The meeting will last approximately one (1) hour Monday- Friday 10:00 a.m. to 3:00 p.m. Your Builder will review all of your selections with you in detail and formulate a general timeline for the construction process.
  • We will help you understand our homebuilding process before construction begins and to ensure that you are completely satisfied with your home on paper before we begin.
  • Once construction begins, we will update you regularly on the progress of your home.
  • Please be advised that all opportunities to add options or make changes to your selections have passed.

#8 - Pre-Drywall Orientation (PDO)

Completed prior to drywall

  • Your Sales Professional will schedule this meeting with you at your home Monday- Friday 10:00 a.m. to 3:00 p.m. Your Builder will spend time discussing selections that have been installed up to this stage and explain what you can expect in the weeks ahead.
  • As you walk through your home, your Builder will identify your selected options and verify installation and proper location (ie: phone and cable or surround sound pre-wire).
  • For your comfort and convenience, you may always ask your Sales Professional to schedule additional meetings, as needed, to ensure that you are comfortable with your home.
  • Please be advised that all opportunities to add options or make changes to your selections have passed.

#9 - Pre-Closing Orientation (PCO)

Completed 5 business days prior to closing

  • Your Sales Professional will schedule your Pre-Closing Orientation (PCO) to be conducted at your home approximately five (5) business days, Monday- Friday 10:00 a.m. to 3:00 p.m. prior to closing. Time may vary.
  • During the orientation your Builder will familiarize you with your homes features and operations. We will also ensure that all construction is completed to Princeton Homes standards.
  • When necessary, your Builder will document any items that need additional attention and will ensure completion before your Pre-Closing Acceptance meeting.
  • You will be introduced to our Customer Care and Service Manual. We will review home care and maintenance, as well as phone numbers and information about the contractors who performed work on your home.

#10 - Pre-Closing Acceptance (PCA)

To be completed prior to closing

  • Your Sales Professional will schedule this meeting with you following your Pre-Closing Orientation (PCO).
  • At this time, your Builder will review all documented items during the Pre Closing Orientation (PCO) with you to verify that all items are completed to Princeton Classic standards.
  • Your Builder will then ask for your acknowledgement of completion and have you sign an Affidavit of Acceptance prior to closing.
  • Please be advised that all opportunities to add options or make changes to your selections have passed.

We will close when all items from the PCO list have been completed to Princeton Home standards.

#11 - Closing on Your New Home

Congratulations!

LCH Title (LCH) is part of our Princeton Homes family, and you can feel confident in their commitment to assist you with all of your closing needs.

Closing Preparation

  • Closing dates and times are coordinated by Princeton Homes with LCH Title (LCH) approximately thirty (30) days prior to closing.
  • Using First Choice Lending Group (FCLG) and LCH Title (LCH), you will receive a settlement statement within two (2) business days prior to closing.
  • When you use First Choice Lending Group (FCLG) and LCH Title (LCH), funding verification is handled internally and possession of your home will be turned over to you immediately after closing.
  • Should you choose another lender, possession of your home will be given only after funding, which can take several days and delay move-in. Your Mortgage Company must ensure prior to closing that LCH Title (LCH) will receive all funds.
  • First Choice Lending Group (FCLG) and LCH Title (LCH) requests the name and telephone number of your homeowner’s insurance agent at least twenty-one (21) days prior to closing.

LCH Title
10720 W. Sam Houston Pkwy. N
Suite 200
Houston, TX 77064

Office: (713) 892-8887

Closing Day Tips

  • LCH Title (LCH) requires that all buyers listed on the contract be present at the scheduled time for closing unless prior arrangements have been made with the lender/title company before the date of closing.
  • Bring a valid driver’s license or other acceptable form of photo identification to closing.
  • Funding may be provided in the form of a cashier's check payable to LCH Title (LCH) or as a wire transfer to LCH Title (LCH). These are the only acceptable forms of payment.

You have the responsibility of arranging the transfer of all utilities.

New Home Key Presentation

  • Congratulations!!!
  • Upon funding your loan, your Sales Counselor will schedule a time to meet your family at your new home for the “New Home Key Presentation.”
  • You will be Presented with the KEYS to your new home. For Princeton Homes, the “Home Key Presentation” is the most rewarding step in the home-building process.
  • Each Key Presentation symbolizes the culmination of our company’s team goal to deliver a beautifully completed home to your family to be enjoyed for years to come.

From all of us at Princeton Homes, thank you for allowing us the privilege of being a part of such an important family milestone!

Terms to Know

When you’re buying a new home, sometimes it can feel like everyone is speaking a language you don’t understand. There are certain terms you need to know to make sense of it all. This is a basic list of those terms. For more information, please ask your Princeton Classic Homes Sales Counselor.

CLOSING COSTS

Costs in addition to the price of the home, which are paid at closing. These include taxes, title insurance, financing costs, items that must be prepaid or escrowed and other costs.

EARNEST MONEY

The deposit money given to the seller by the potential buyer when signing the sales contract.

ESCROW

An account held by the mortgage lender into which a homeowner pays money at the time of the periodic mortgage payments to cover annual property taxes and insurance.

GOOD FAITH ESTIMATE

An estimate of charges which a homebuyer is likely to incur in connection with their home purchase, including closing costs and monthly investment.

HOA (HOMEOWNER'S ASSOCIATION)

The governance body of a community, which enforces the covenants, conditions, and restrictions of managing the common amenities of the development.

HOMESTEAD EXEMPTION

A concession made by local taxing authorities to provide a reduction in property taxes by exempting a portion of the valuation of the homeowner’s principal residence from taxation.

INVENTORY HOME

A home on which construction has already begun or is complete before a homebuyer signs a contract on that home. Also known as a spec (speculative) home.

MORTGAGE

A pledge of real property given by the buyer to the lender as security for the repayment of money borrowed.

MUD (MUNICIPAL UTILITY DISTRICT) TAX

A fee homeowners pay to provide water, sewage, drainage and other services to their area. MUD rates generally decline over time as the district is built out and operating and debt service costs are shared by more homeowners.

OWNER'S TITLE POLICY

Insurance policy that protects the buyer/owner of real property from successful claims of ownership to the property by others.