Homebuyers have many factors to consider when deciding whether to purchase an existing home or build a new one. These include location, price, market trends and maintenance costs. While new homes are often more expensive than older ones on a per-square-foot basis, they also offer several key benefits. Here are five reasons why buying a new construction property is worth the investment:
They’re Brand New:
New homes offer a fresh slate that’s impossible to find with an existing home. They’re built with the latest materials and energy-efficient features that can save you money on utility bills. They’re also located in desirable areas with schools, shopping and transit routes nearby, making your property a more attractive prospect for future buyers.
In addition to saving on utilities, a new construction home can help you avoid unexpected maintenance costs common with older homes. While new construction properties are not immune to damage, they’re less likely to need repairs than a home with multiple owners.
However, it’s important to remember that new homes don’t have a history of maintenance to rely on, which can make predicting ownership costs more challenging. It’s wise to work closely with a developer with experience building new construction properties and ask for comparables on which you can run your cost analysis.
Fortunately, many builders have teams dedicated to helping buyers select and customize their dream homes throughout the construction phase. On move-in day, your investment will already be a great fit for your lifestyle.
They’re Energy Efficient:
Whether you’re looking for an entirely custom home or prefer to work with a pre-built model, new homes for sale in Raleigh, NC, often feature higher energy efficiency. This is thanks to the latest in sustainable building materials, tighter modular construction, and more. As a result, newer homes are more energy efficient than their older counterparts, and you’ll enjoy instant cost savings on your monthly bills.
Older houses were built for a different time and may not be as energy efficient as you’d expect. Older construction methods and materials can create opportunities for heat or cool air to escape, resulting in high energy costs. On the other hand, new homes are built with more energy-efficient standards in mind. They are often constructed with modern materials like insulated windows, doors, and Energy Star appliances.
Additionally, many new homes are much larger than those built in the past. Larger homes require more energy to heat and cool. Still, they can also be more energy efficient if equipped with features like smart home technology that allows you to control your heating and cooling from anywhere or eco-friendly materials like rammed earth for floors or walls.
They’re Affordable:
New construction is worth a look if you’re looking for a home within your price range. The building process is much faster than purchasing an existing property, so you can move in sooner and avoid spending extra time on renovations. Plus, you’ll have peace of mind knowing that guarantees and promises back your brand-new house.
Many neighborhoods are seeing the disappearance of slightly denser housing options, like brownstones and three-flats. This is due to a lack of builder interest in creating these types of homes and restrictive zoning laws. In addition, a new home for sale comes with lower maintenance costs. That’s because the roof, HVAC system and appliances are all unique.
And, as a bonus, new homes usually have warranties that cover repairs for the first few years of homeownership, which can save you money in the long run. Plus, since these houses are typically located in up-and-coming neighborhoods, they’ll likely appreciate over the years compared to older existing properties. This means you’ll also make more money when it’s time to sell.
They’re Customizable:
One of the first decisions homebuyers make when searching for their dream home is buying an existing property or building it from scratch. This decision is influenced by several factors, including budget, timeline, location and whether or not buyers want to be responsible for designing their new house from start to finish.
One major benefit of buying a new construction home is the ability to customize it to suit your taste and preferences. If you work with a design team, you can change the layout, appliances and fixtures before moving in. You’ll also be able to select from a wide range of finishes and features, including cabinets, flooring and paint, which you won’t find in most resale homes.
Additionally, when you purchase a brand-new home, you’ll have peace of mind knowing that the builder’s warranty will cover any defects and repairs. This isn’t the case with older properties, which often require substantial maintenance to keep them up to date.
They’re in a Great Location:
Buying a home is one of the biggest investments people will ever make, so buyers must consider all options carefully before deciding. In addition to the costs of a new home, resale homes typically require costly repairs and upgrades, including a fresh coat of paint and landscaping and updates to appliances, fixtures, and plumbing.
New construction homes are usually built in up-and-coming neighborhoods that offer convenient access to schools, shopping, grocery stores, public transit routes and parks, as per Bank Rate. This makes them a good option for buyers who want to live in a family-friendly neighborhood that will continue to appreciate over time.
As a bonus, new construction homes are also typically more affordable than older properties on a square-foot basis. Plus, many builders offer financial incentives and guarantees on their work, which is important for buyers looking to purchase a new home in a competitive market.
This includes low-interest rates, pre-approvals for financing, and a warranty on work and materials to protect the buyer from unexpected expenses during the construction process.
