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In a down market New Construction can be the riskiest type of Real Estate purchase!
As a buyer you are putting all of your trust in the builder to build your dream home.  While you trust, and believe every word the builder is telling you.  You have to way your options and trust in one of your largest investments of your life.  When times get tough builders get desperate and scrape by trying to pay contractors.   Do you trust your builder to pay all of the subcontractors that are going to be building your home?  Are you expecting to pay the contractors if the builder doesn't pay them?  If you close with the builders preferred title company and you don't specify or purchase the right title policy.  The unpaid contractors have up to 3 months to put liens on your property even after you purchased your dream home.  This even applies to the company who put the curb, gutter, utilities, and streets in.