One of the first decisions to make is to buy a new or existing home. Let’s take a look at some of the benefits of buying a new home.
The decision to buy a house is both exciting and stressful. For most people, a home is the most important purchase and investment of their lives. Such a decision requires a lot of thought, consideration and caution. Today’s real estate market has an abundance types of property and the decision process can become extremely difficult. One of the first decisions to make is to buy a new or existing home. Let’s take a look at some of the benefits of buying a new home.
One of the main drawbacks of existing homes is that the future owner has to compromise on their needs and personal preferences. New houses still in the construction phase allow the future owner to customize almost all design elements during construction. Small details that are not necessarily crucial but can become irritants when buying an existing home. For example, you will not be forced to look at a kitchen counter or floor that you hate.
2. Renovation, repair and maintenance costs
Existing homes often have minor and major problems. Whether it’s a design flaw or excessive wear, you’re always at risk of having to make repairs or renovations when you buy an existing home. Some repair areas are known at the time of purchase, but others are not and can expose you to significant costs. With the purchase of a new home you know that everything is brand new and always under warranty. It’s peace of mind for a new owner.
3. Get more financing options
Newly built homes may have mortgage financing benefits through the builder. Most builders have their own network of preferred lenders and you can find financial benefits such as reduced mortgage rates, discounts on some related costs such as notary fees.
4. Reduce your environmental footprint
Newly built homes are much more energy efficient than older homes, especially when they use green building practices. These houses are more sealed and better insulated to prevent hot and cold air from escaping. You’ll also find that many of them have the most energy-efficient devices and systems on the market to further reduce your energy consumption and bills.
5. Communities / neighborhoods and planned developments
For some, buying a new home is more than just brick and mortar. They also engage in a community / neighborhood – neighbors and commodities that their families can enjoy. With existing communities / neighborhoods, you will have families who have already bonded and may not be so welcoming to newcomers who are changing the dynamic.
In conclusion, less hassle, more customization, financial benefits and improved community life are just some of the overall benefits of choosing a new build in a new neighborhood. Your real estate agent and builder can help you determine how a specific new build meets all of your family’s needs.