When you’re considering purchasing a home, you have several options. Two of your first options are to find a previously owned home, or to purchase new construction. There’s nothing wrong with buying an older home, and some prefer that. However, there is nothing quite like the benefits of buying new construction. Here are a few myths and facts about buying new construction why you should consider buying new construction when looking for the home of your dreams.
Myth: Buying an Older Home is the Less Expensive Option.
Is purchasing an older home less costly that building your own or buying new construction? Many people believe that buying an older home is the less expensive option, but they may need expensive repairs. There’s no telling how well or how poorly previous owners cared for the property. You have to trust the disclosures and the inspection process to uncover repairs needed when buying a previously owned home, but they are not always caught during the inspection process. You could be stuck paying for new roofing, wiring, plumbing, or other costly items. Though the upfront cost may be lower when purchasing a pre-owned home, the renovation costs will end up costing equal to or more than the new construction price.
Fact: New Homes Have More Space
Older homes have small rooms with walls and doors separating each of the spaces. Today, people tend to look for a more open floor plan. The older kitchens don’t always overlook the living room, so it can be difficult to cook while entertaining or watching little ones. Some older homes can be remodeled to keep up with the trends, though it can be costly. Most new homes have more space and 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.
Fact: New Construction Homes are Energy Efficient
Buying new construction homes gives you benefits such as energy efficiency, green technology, better air quality, and other perks that you can choose if you are involved in the building process. Additionally, when buying new construction, your appliances and major systems are new. Therefore, you know they’ll all be functioning at optimal levels, and be under warranty.
Fact: New Homes are Clean and Neat
When you purchase a previously owned home, you’re also purchasing the previous owner’s cleaning habits and their style, or lack thereof. If the previous owner was a smoker, had pets, etc., you may find it difficult, to remove odors from your home. You may have to do expensive updates to the home to fix these issues, like changing the carpeting, cabinets, counter tops, or fixtures. However, with new construction, you oversee the finishes and get to select your style and upgrade options according to your budget, from the beginning.
Myth: Buying New Construction Takes Longer than Purchasing a Pre-Owned Home.
With new construction, your home is move-in-ready. With a pre-owned home, you’re likely going to be doing some remodeling. You can get on with the business of life rather than being bogged down by DIY renovation projects or hiring contractors when purchasing a new home. Remodeling a home could take weeks or months until completion. It may only take 2 months to buy a resale home, but it may take 4 months before you are settled. Some builders have inventory homes that are at completion or close to completion. These homes can be closed on as fast as a pre-owned home and are move in ready.
Fact: More Amenities are Included with New Construction
Many new construction homes are part of luxurious master-planned communities with amenities not available from older homes, such as playgrounds, community fitness centers, pools, sports courts, and other perks.
When you choose to buy new construction, you still need the help of a professional real estate agent. Buying new construction is not the same as buying a resale home. You want your agent to be an expert in the neighborhoods in which you’d like to consider living, and in new construction.
