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If you aren't just obsessed with the idea of a new home, you may be wondering whether an existing home or new construction home is right for you. What are the deciding factors? This post will help you answer the question "why buy new construction," so you know which you should look into further.
Why Buy New Construction?
Less repair and maintenance costs
Let's face it, unless the builder is disreputable, with a new construction home, it is going to be a long time before you need to do any repairs and maintenance will be minimal. Everything's brand new, so you can just wait for wear and tear to start happening and perform what maintenance will reduce wear and tear. An existing home could require extensive repairs at any time, and more rigorous maintenance.
Many new homes are also built with materials that are meant to require less maintenance and last longer, adding to the convenience and cost-savings.
New construction homes are built under modern building codes that take energy efficiency into consideration. The insulation, appliances, windows, and building envelope are going to be better on the environment and your wallet than an older home unless you do some extensive renovations.
Many home builders give buyers the opportunity to customize their home. Options differ from builder to builder, ranging from just being able to select things like flooring and paint colors to being able to specify details about the layout. Sometimes, you may have to pay for customization or upgrades. If this is important to you, ask around to see which home builders offer which options so you can compare and get the customization you desire.
New construction homes usually offer a warranty, so if something does go wrong in say the first year, you won't have to pay for it.
Always research the home builder to ensure they offer quality work. A year is nice, but you aren't choosing a new construction home expecting it to be problem-free for only a year. Home construction should endure. But, unfortunately, many in the construction business favor cost savings over quality. Invest both the time to do research and the money to pay for quality work. A new home built poorly is no more sound than an old home.
Fire-retardant materials may often be used in new construction homes. This offers some peace of mind that can't be sneezed at. You might ask the home builder to see what they are offering in their homes.
One con that should be mentioned
Everyone is concerned about cost, so we must discuss it. New construction homes do cost more than existing homes. Consider the cost of purchasing the new home versus the cost savings of energy efficiency and fewer repairs and maintenance. The cost may be prohibitive, period, or you may decide that the cost savings make this the best answer for you.
Written by Missy Banks with Allen Tate Realtors. Missy is a full time real estate professional and a top relator with Allen Tate and the Charlotte area. MissyBanks.com is a user friendly real estate search tool with update MLS listings.
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