Benefits of Buying New Construction
When you’re considering purchasing a house, you have two options. Your first option is to find a previously owned home. Another option is to purchase new construction. There’s nothing wrong with buying an older home, but there’s nothing quite like the benefits of buying new construction. Here are a few reasons why you should consider buying new construction when looking for the home of your dreams.
Is Buying New Less Costly than Buying Older Homes?
Many older homes, which you may initially think of as a less expensive option, may be in need of expensive repairs. There’s no telling how well or how poorly previous owners cared for the property. You could be stuck footing the bill for new roofing, wiring, plumbing, or other costly items.
New Homes Have More Space
Older homes, by and large, were built box-like. They have small rooms with walls and doors separating each of the spaces. The kitchens don’t always overlook the living room, so it can be difficult to cook while entertaining or watching little ones. Many newer homes are designed with open concept floor plans for more convenient living. In some cases, you can make design decisions about your new home’s layout. This is one of the greatest benefits to have when buying new construction.
Buying new construction homes gives you benefits such as energy efficiency, green technology, better air quality, and other perks. Furthermore, when buying new construction, all of your appliances and major systems are new. Therefore, you know they’ll all be functioning at optimum levels, most likely under warranty, and you have the opportunity to properly maintain your property from the beginning.
When you purchase a pre-existing home, you’re also purchasing the previous owner’s style – and in some cases, habits. If the previous owner was a smoker and you’re not, you may find it difficult, expensive, and time-consuming to remove odors from your home. You may find yourself wanting to do expensive upgrades like changing the floors, cabinets, counter tops, or fixtures. However, with new construction, you are in charge of your finishes and get to select your color palette and upgrade options from the beginning. You’ll have a deep sense of pride in helping design the home of your dreams.
With a pre-owned home, you’re likely going to be doing some remodeling. With new construction, your home is move-in-ready without you ever having to wield a hammer. You can get on with the business of life rather than being bogged down by DIY renovation projects or hiring contractors.
Many new construction homes are part of luxurious master-planned communities with amenities not available from older homes, such as community fitness centers, pools, and other perks.
A majority of new construction homes have security and technology built in, such as alarm systems, modern smoke detectors, and other features not readily available in older homes.
When buying new construction, your neighborhood grows organically, and authentically. You and your neighbors celebrate new home ownership together and become founding members of your neighborhood. It’s not always comfortable moving into an older home and having neighbors measure your household against the previous residents.
Better Purchasing Options
New construction builders often have special financing or mortgage options to make purchasing the home easier.
Resale value on new construction is going to be higher. Therefore, your long term return on investment is likely going to be higher.
With new construction, you have the opportunity to research builders. You can learn about their reputations, and choose a builder that is right for your needs.
When you choose to buy new construction, you still need to enlist the help of a professional real estate agent. Buying new construction is not the same as buying a resale home. Although there are many advantages to choosing to purchase a newly constructed home, there are also different contracts and processes through builders than there are sellers of previously owned homes. Your agent should be an expert in the neighborhoods in which you’d like to consider living, and in new construction. Builders often staff their model neighborhoods with their own real estate agents, but those agents have the builder’s best interest at heart, not yours.
With the right real estate agent, buying a newly constructed home can be invigorating, exciting, and can lead to you having a deeper connection with your home and community.