There are many beautiful homes on the market these days, but you should not forget the potential of investing in new construction. Although new homes usually have a higher price per square footage than resale homes, there are many benefits to consider.
New homes are customizable. This means you may be able to participate in the design process, choose the color palette and have a say in the flooring type. You may even have the opportunity to select the lot of your choice in a subdivision. This flexibility allows you to add a personal touch to your new home that is not available when purchasing a used house.
New building codes mandate higher energy efficiency standards. New construction could ultimately save you money on monthly utilities. Features usually include a tighter-sealed building envelope, green appliances and triple- and quadruple-paned windows.
It stands to reason that a new house would have fewer repairs. A home that has already experienced years of wear and tear is more likely to need new carpet, fresh paint or new appliances. New homes are often engineered to need less maintenance. With a used home, oftentimes, you don’t know what you are getting. Along with a new build comes warranties. Just about everything is warrantied. The builder often guarantees the construction and all the appliances are likely new. Even if you have a home inspection, a resale home may have hidden defects that don’t reveal themselves until later.
Buying a home is a big deal. The idea of investing in new construction may seem outside your means. When you consider many of the benefits, you usually come out ahead. A new home could provide you with the peace of mind that you won’t find in a resale. The money you save on utilities and maintenance could make up the difference in sale price over the years. It is definitely worth considering.