Wednesday June 12, 2019
Are you looking for a larger home for your growing family? You may be considering a well-loved home for many reasons—including the notion that it may be less expensive than a new construction home.
Luckily that notion is far from the truth and there are several other reasons why you should buy a new construction home versus something that is a few (or many) years older. Keep reading for more information!
Purchasing a new home means that you have a guarantee of the builder's work for at least one year. This warranty protects against anything that may happen to the roofing, electrical work, and even the HVAC system.
When you buy a home from a previous owner, a home inspection can help detect some of these issues but is not a promise. Should any unforeseen issues arise after the purchase, you are likely out of luck.
2. Color & Material Customization
Should you find an unfinished home and begin the negotiations to purchase, there is usually time to choose colors of interior paint, flooring materials, and the countertops. This allows you the chance to buy a customized home at a great price.
The current owners of a home for sale may give you a paint allowance, but it will cost a fair amount to update floors, remove old carpet, and replace countertops.
3. No Needed Remodels
Unless you are looking to put time, effort, and money into remodeling a home, purchasing an older home that needs work is not always a great idea. Yes, you may receive money towards updates, but this is not guaranteed.
Even if negotiations go well, the fact is you will still have to complete the renovations. This can take months—or even years—depending on how large the project is!
4. Energy Savings
New homes have newer, more efficient appliances. Even a difference in five or six years can allow for vast improvements in the efficiency and effectiveness of units like your HVAC system, water heater, stove, dishwasher, as well as any other appliances in the home.
Especially with larger systems like the air conditioner, improved efficiency will reflect well on your electric bill.
5. Better Negotiations
Construction companies have no emotional attachment to the homes they build. They build in order to quickly sell and turn a profit.
Unfortunately, when a homeowner is selling their property, you may notice that they are less willing to budge on price, allowances, and other concessions.
The other point to remember is that builders often have mortgage companies. While you don't HAVE to use their services, there are often deals made for closing costs when you do.
Purchasing a New Construction Home
When you are looking to upgrade your current home to fit your growing family or deciding to downsize due to an empty nest, price is always a factor.
Unlike buying a new or used car, the price of an older home versus a new construction home isn't always higher or lower based on age. Considering a newly-built home is often a better deal than settling for a 'lower' price for a lesser home.
If you are interested in seeing some of the gorgeous options that are available to you, check out these virtual tours!