Owning your own home has long been part of the American dream. It's a goal most of us rightfully aspire to, and one that can often help build wealth. Indeed, 64% of Americans own a home today. If'
Pros And Cons Of Buying A Newly Built House
Dated: September 6 2018
Are you torn between buying a brand-new home or an older house? Here are a few things to think about before making your decision.
You’re able to have the builder customize the home before construction is completed, so it will be built with your personal touch!
You don't have to do repairs yourself. The work is done for you. You don’t have to lift a finger, a paint brush, or a hammer.
New homes come with the design elements that today’s lifestyle demands. For example: open and eat-in kitchens, walk-in closets and large master baths. Before today's concept of "bigger is better," people had less clothing, fewer personal items to store, and only one car.
Reduced maintenance costs is a big financial benefit. With brand new appliances, plumbing and HVAC, you should be repair free for at least a few years.
Using new construction materials means new homes are usually more energy efficient; that means lower utility bills.
New homes are often equipped with the latest technology – think alarm systems, speaker systems, Internet wiring, and cable. That can save you time, money and holes in the walls.
You’re moving into a house that should be totally complete and absolutely perfect. The “new house smell” is definitely a luxury!
Brand new homes can cost more, sometimes up to 20% more than a similar existing home.
All the gorgeous amenities in the model home can add up. Upgraded features are marked up and can end up costing you more than you thought.
Many new construction neighborhoods and developments are built far from destinations like schools and downtown areas. If you’re one of the first to move in, you’re essentially going to be living in a construction zone for a length of time.
If you’re looking for a lovely, charming, tree-lined older neighborhood that has an established community of neighbors, you won’t get it for many years in a new development.
Often, new homes have less architectural detail and charm that many older homes. There also wont be as many unique and one of a kind features that can be found in older homes.
New properties aren't ideal for people who like to upgrade and renovate their homes themselves. If you enjoy completing do-it-yourself projects on the weekends you won't find many in a new home.
New homes are built on smaller lots than most older homes. If you’re looking for that big backyard and lots of space between your house and the next door neighbor’s you may not find it in a new build.
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