Being able to buy a brand-new home is quite an experience. From making critical decisions about optional fireplaces to adding a basement bathroom, it can be exciting or demoralizing. First, consider the pros and cons of a newly constructed home. For some, it can be an amazing experience. Others may not like making all the decisions or speaking up if something looks wrong like a fixture or paint color you did not choose. Here are the top four pros and cons when deciding to buy (build) a new home.
Working With Builders
Selecting the right builder can be exciting, but it can also be stressful. Luckily if you’re building in a specific development, the builder will already be established. If you simply have land of your own to build on, you will need to be diligent in finding a skilled builder. Sure, you could look at portfolios online though it’s highly suggested to ask for references and possibly tour a recently built home of the builder. Another pro and con to having a new home built, depending on how involved you want to be in the entire process.
Starting From Scratch
One thing about a new construction home is the perfectly clean, new feeling. There are no broken blinds, dented or marked up cove base or edging, stained carpet, or other ‘lived-in’ issues. Additionally, throughout the design process you can sidestep any out of place outlets or built-in components. You’ll also get to select finishes, paint colors, carpet, and counter materials. This can be a pro for those who are concerned about any lingering issues of an older home and like to make decisions. On the other hand, if you like a home with some history and oddities, a new home may not be the best choice.
Notes About Customization
Choosing paint colors, finishes for hardware and flooring may sound like fun and a pro of having a home built. In a housing development the array of hundreds of options are usually pared down for you, so you’ll have may a handful or a dozen options for each room. The con here can be if trends and current styles don’t match you and your family. Any deviations from the choices offered will likely result in an ‘up’ charge and those can add up fast. This can include finishes, appliances, and sink hardware.
New Equals Efficient and Less Repairs
The past decade has seen major innovations and improvements around efficient appliances, lighting, HVAC systems and smart thermostats, and insulation technologies. This can save up to 30% heat gain/loss over home built at the turn of the century. Additionally, because everything is new there will be less maintenance needs in the first five years compared to a previously owned home. Depending on how you look at these aspects of homeownership may steer you towards a new home. If you really love do-it-yourself projects and being handy around the house, then a previously owned home is a better option for you.
New or Old
Choosing to build a home can be incredible or a chore, it’s really about your preference for making decisions, modern trends or classic and historic styles, and if you like the shininess of new or if you prefer some weekend do-it-yourself projects.
At Total Lending Concepts, we’re more than just a mortgage company. We are an “all hands on deck to help you get into the home of your dreams” company. CONTACT US TODAY to learn more about how we can help you.
