Thinking about buying a brand new home? There are a lot of great reasons to invest in new construction, but there are many factors that go into every home purchase decision. Consider the advantages and disadvantages, listed below, of buying a new versus existing home, then contact Karen Browder for more advice on the current market, financing options, and help finding the perfect new or existing home for your needs.
Pros
Modern amenities/convenience — New homes are built to accommodate new technology, with plenty of electrical outlets, wiring for high-speed Internet access, etc. Most feature built-in appliances and central heating air. You can also select custom options such as whirlpool tubs, walk-in closets, etc.
Warranties/less maintenance — Builders will warranty against construction defects, and appliances generally carry a manufacturer’s warranty. Building materials take advantage of new advances that make them more durable, requiring less upkeep.
Energy efficiency — New homes are better insulated and built with more efficient heating, cooling and plumbing systems, meaning you’ll save each month on utility bills.
Health and safety — Hazardous materials such as asbestos and lead-based paint won’t be found in new homes, and electrical wiring systems are built for heavy loads, so there’s less risk of fire.
Floorplans that fit today’s lifestyles — Oversized family rooms, large, modern kitchens, media niches, and large closets are just some of the popular floorplan features found in today’s new homes.
You make it your own — You get to pick the paint color, kitchen countertop finish, carpeting, etc., and personalize it to your style.
Cons
Price — New homes cost more than existing homes. The price difference, though, might be worth it for the maintenance and energy cost savings you’ll get. In hot markets, new homes may be overpriced—Karen can help you decide whether a home is really worth its asking price.
Delays — New homes are often not finished on schedule, which can delay your move-in.
What you see may not be what you get—A model home will likely include many features that are upgrades, such as certain finishes or landscaping. Make sure you know you exactly what you’re getting for your money. Karen works with builders regularly, and can help you sort through the options.