5 Reasons to Consider a New Build when Home Shopping
When shopping for a house, you have two options. You can choose between a previously lived in home or a completely new build. New builds are becoming more popular and desirable. Although they may cost a little more, the benefits that home buyers can receive from purchasing a new build home are very advantageous.
Complete customization of your dream home
Most home buyers have a good idea of the type of home that they are looking for. This might include the number of bedrooms, bathrooms, or certain amenities that the home features. Some home buyers may care more about land and others might care more about choosing an ideal location. A buyer that has a very specific idea of their dream home may find it difficult to find that exact home in the current inventory of homes for sale. When shopping for a previously purchased home, it is very likely that a buyer will find at least one or two things that they want to immediately change upon purchase.
Almost zero chance of home problems
Although many mortgage companies do require thorough inspections when offering lending on a home, problems can and still do occur. It doesn?t matter if you purchase previously owned homes, townhomes, or condos, repairs are almost always needed. These repairs can get costly, depending on what they are. Most recent buyers who purchased new homes were looking to avoid renovations and problems with plumbing or electricity at 34%. Buyers who purchased previously owned homes were most often considering a better price at 32%. However, costly repairs on your townhomes can minimize some of the cost savings.
Brand new classic community living
Moving into a new neighborhood can be overwhelming. You have to find a new grocer, gas station, restaurants, and even services. You are considered the new neighbor until someone else moves into the neighborhood. It might even feel like your neighbors all already know each other and you are the outsider. When you move into brand new townhomes or residential houses, everyone is new. You are navigating the new community with your neighbors and this can be a great way to get to know your new neighbors. You and your neighbors can also have influence over the types of local businesses and services that are built into your neighborhood.
Low maintenance living
Many new home communities, especially townhomes and condominiums are built with the idea of low maintenance living. This means that when you purchase a home for sale in the community, your lawn care and neighborhood safety are included. You may be required to pay a small monthly fee to be a part of the neighborhood, but many residents find this type of living to be extremely useful. Understanding home owner?s association fees is important and the realtor can help with this type of information. Approximately 78% of recent buyers found their real estate agent to be a very useful information source. Online websites were also seen as a very useful information source at 82%.
Increased curb appeal and value
Home value is important to home buyers. A homes value is how much you can sell the home for, when a sale is decided. Purchasing a previously lived in house can decrease the value over time, because the home will get older and older every year. However, when a home buyer purchases a new home, they can advertise the home as newer with only one resident when it comes time to sell. New homes tend to hold their value better, for longer. Many of the materials used and the build techniques are updated and will not require updates for many years to come.
Home buyers often have the choice between previously lived in homes and brand new builds. New builds offer many benefits including the ability to purchase the home of your dreams, a reduced chance of mechanical or electrical problems, a sense of community living, and a better hold on the home?s value. Many new home buyers find that the increase in price is worth the cost in the long run.