When it comes time to purchase a home, there are quite a few things to consider before making your choice on the right home for you. One of the most important factors to mull over is whether to buy an existing home or new construction. Each has its own set of pros and cons ,but today we’ll examine the advantages of buying new construction.
Freedom of Choice
With new construction, the buyer has a lot of say in the process. If you are working with the builder at the start of the process, you can choose just about every aspect of your house. From the floor plan you want, elevation, and structural elements. If you purchase a home that is already in the building process, most of the time, you can still choose the finishes, such as cabinets, flooring, colors, etc. For the most part, purchasing a new construction home gives you the freedom to personalize and customize your home to your wants and needs.
Peace of Mind
Purchasing a new construction home can ease some of the worry you may have with such a large purchase. First of all, most of the appliances these days are energy efficient which will save you money month after month, year after year. Secondly, you will most likely have less maintenance and upkeep with a new home. Everything is brand new and therefore should function properly without needing any adjustments for awhile. Lastly, most new homes these days come with a standard warranty. As a result, if you do happen to have any maintenance issues, either the builder or manufacturer will most likely cover the cost to fix or replace the faulty item. It is important thought to find out for sure exactly what warranty comes with your home; what is covered and how long the coverage is good for.
Community Atmosphere
Today’s new construction homes are mostly built in newly developed neighborhoods. This means that you will often find everything you need close by. Most new build neighborhoods include community pools, athletic facilities, playgrounds, walking trails, dog parks and much more. Whether you are single or have a large family, you will almost definitely find something for you within the community.
Taxes
Purchasing a new home will also almost guarantee having a lower tax rate the first couple of years. Before the home was built, the lot was appraised as basically just a pile of dirt. Of course, taxes on dirt are not very high! You will benefit from this by having a lower tax rate until the new appraisal comes in.
New home construction may not be right for everyone. It can take some time, depending on what part of the construction phase the home is in when you decide to purchase it. However, there is a definitely bright side to purchasing new that might just make the wait worthwhile!
Resources:
http://realestate.aol.com/blog/2010/10/05/the-pros-and-cons-of-buying-a-new-construction-home
