There are a many benefits to owning a new home including the ability to customize the home to your liking, meeting all the new neighbors as they move in and substantial savings in utility costs with new homes now being built to a higher, more energy efficient standard.
When buying new construction you should take into account the fact that most new homes take approximately four to six months to build. You may also have to devote more of your personal time to building the home as you will need to choose custom selections and possible upgrades. However, you won’t be wasting energy viewing dozens of homes that won’t meet your needs as with existing homes.
Building a new home can be very exciting and rewarding experience. It is important to work with a Realtor who has experience working with new construction to help ease the process.
Why Should I Consider New Construction?
It’s your house. No, REALLY your house. – When you buy a resale home you are purchasing a home that someone else crafted to suit his or her lifestyle. Sometimes it’s just perfect and exactly what you are looking for but more often than not there are a few “Why did they do that?” issues with a home that you will have to change. When you build a new home you will be able to choose exactly what you want and where you want it so you can move in and not have to touch a thing.
Everyone else is new too! – Resale communities are great because you can see the neighborhood, how people care for their homes and everything is already established but those same benefits can prove to be cons when you are the only new neighbor on the block. Moving into a new home grants you the privilege of meeting the neighbors when they are also looking to meet new people and settle into the community.
Newer homes are more attractive when you resell… - Life happens. You might have to relocate or you make a lifestyle change a couple short years after you move in. The good news is that newer homes are more attractive to prospective homebuyers because it’s their opportunity to buy a newer home without the price premium associated with new construction. Better yet, you’ve already purchased all the appliances and upgrades for the home and many parts of the home are still under warranty making the home a great inclusive value. This will compare favorably to older resale homes that may require renovation or updating to make it livable for the modern homebuyer.
Location, Location, Location! YOU choose! – When you shop for resale homes the homes you find are obviously fixed to their current location. How many times have you seen a great resale that would be absolutely perfect if it were a little closer to the park or offered a larger back yard for the kids to play? New homebuilders typically offer a range of house plans to choose from and you can usually place that home on a lot of your choice. Now you can have the home of your dreams with the yard you’ve always dreamed of!
In the current market new homes may be a better deal than resale homes. Sometimes builders will offer better prices for pre-sold homes (homes contracted before construction begins) because they do not have carrying costs and interest payments to cover as with their spec homes.
Buying Tip: To score a new home deal you can’t walk in and offer builders $20,000 under what they are asking for the home. Fantastic deals can be found however if you find the right buyer’s agent who specializes in new homes because their experience, relationships with builders and negotiating ability will help you save thousands of dollars.
That brown carpet and tiny kitchen? Soooooo 1970s! – Kitchen big enough for one? Small closets, shower only bathrooms and carpet everywhere? Not for today’s homebuyer! The modern lifestyle is drastically different from what it was even ten years ago and resale homes often lack the oomph and space to satisfy. Today’s homebuyer wants a bright, open kitchen with breakfast bar and high-end appliances. We now do most of our living in the kitchen! Whirlpool tubs in the master suite and walk-in closets are now considered standard staples of the modern home. New homes often feature these amenities as a part of their standard offering and are even starting to prepare homes for the future including the addition of whole house networking and basements that can be finished as future living space.
New homes save money with efficiency and green building techniques. – Many new homes are taking advantage of the Energy Star standard which sets forth a number of requirements that products like windows and doors must adhere to in order to achieve an Energy Star rating.