While the phrase “out with the old, in with the new” is relevant to a number of things in life, people often are torn when it comes to using this concept for home buying. While nothing is perfect, and even newly constructed homes have their flaws, there are some undeniable advantages to being the first owner in a home.
In this day and age, energy efficiency is a growing concern in order to sustain the threat of global climate change. Many new homes are built with features such as solar panels to save money on electricity and reduce emissions that are potentially harmful to the environment. Other common green energy features in new homes come in the form of water heaters, rain harvesting systems, insulation, double paned windows, and more. Builders often install appliances that require less energy than older models that you would find in resale homes.
Seemingly obvious, a huge perk for buying a new home is the lower level of maintenance required for upkeep. The lifespan of big-ticket items like your roof and hot water heater are not likely to come and go in your time of ownership. According to the 2019 National Association of Realtors Buyer and Seller Generational Trends, Sellers typically live in their home nine years before selling. This falls significantly lower than the life of expensive items to repair. Additionally, builders are learning from experience and using construction materials designed to reduce the level of maintenance required.
While all projects have different guidelines regarding customization, there are usually at least some personal touches that can be made by purchasing a new home. If it is located in a planned community, choosing the location of the lot can be made based on buyer preference. Some people may love the idea of a corner lot while others prefer being less exposed and having neighbors on either side. Cosmetic touches are another way to personalize new homes, from selecting paint colors to opting for upgrades. At times, this can compromise the timeliness of delivery and can potentially create miscommunication between the developer, builder, and contractor so it is important to make sure these are options pro the specific home you are purchasing. Oftentimes, if upgrades are not desired, there can be more room for negotiating a lower price.
Making the decision to purchase a newly constructed residence makes it yours from the beginning. You’re the first person to make memories, make meals, and truly make it a home.