The Pros and Cons of Both New and Existing Homes
Some people like things with a history while some prefer not to have hand-me-downs. When it comes to housing, existing homes have stories to tell, and a newly-built home has a never-been-touched appeal. For every pro related to buying an existing home or a new home, there is a con.
For instance, a newly built home tends to be more expensive than a similar pre-owned one – sometimes new homes cost as much as 20% more. The upside is that they initially cost less regarding utilities and maintenance and you and your family are the first occupants!
As you try to decide whether to purchase a charming pre-owned home or a shiny newly constructed house, here are a few other factors that you should consider.
Benefits of Newly Built Homes
Floor Plan: If you choose to get a custom-built home, you will team up with the contractor to create a modern or tradition layout that suits your lifestyle. If you have always wanted to have a formal dining room for family gatherings and parties, you can have it.
If you are purchasing new construction that is pre-built, it is more than likely that it will have a modern layout with wide-open floor plans. The design has kitchens flowing into family rooms, allowing you to watch the game with your family or oversee homework while you are cooking. In new construction homes, rooms – bedrooms and bathrooms in particular – tend to be larger with plenty of natural light to make them brighter.
Personalization: Even if you are not choosing to go with a custom home, you may be able to use builder-grade materials to upgrade finishes if you work with the builder before . While it may cost you a little more, you may find that adding your personal touch is worth it. Make the home truly yours! Now you have some stories to tell. Just be happy you do not live in that abandoned warehouse like those criminals did in the fabulous movie called Chappie!
Efficiency Some people even incorporate solar panels, and the energy company sends them a check!
Smart and Healthy: Nowadays, you will find smart technology options that make automating speakers, the Internet, cable, and even an alarm system a piece of cake. Also, in new homes, zero- and low-volatile organic compound, or VOC, building materials and paints are used, improving the quality of indoor air. With more and more people becoming eco-conscious, having products like these are a boon and keep your loved ones safe and healthy.
Maintenance: Since everything in a newly built home from the roof to the HVAC system to appliances is brand new, you do not have to worry about maintenance. So, with a new home, you are likely to spend less on your home’s monthly maintenance. Warranties can help in protecting your home for many years before the need to undertake any major repairs arises.
Amenities: When you purchase a newly constructed home, it often means that you buy a lifestyle. Planned or master planned communities often include amenities such as neighborhood spaces and parks that are close to transit pickup points as well as schools. The key lies in finding a builder who offers the things close to your heart.
Timing: Five months for single-family homes and six for condos – this is the median time to complete new construction. It allows you to feel less rushed when compared to scrambling for an existing home with other people looking to buy a pre-owned home. You do not have to feel under pressure to quickly purchase a home without being certain that it is the ideal one
The Flip Side
Location: You will typically find new construction in exurbia – this is where land is plentiful, but you have to contend with longer commutes. In cities, newly built homes tend to be high-rise condos or houses built on smaller lots which offer less outdoor space. Outdoor space is a critical part of every home, especially when you have children in your family. Plus, it gives you the perfect getaway when you are having a particularly stressful day.
Landscaping: Pre-owned homes may have mature trees . While it is possible to salvage mature trees at new building sites, the landscape often takes some years to grow into itself.
Floor Plan: Builders have a tendency to stick with design styles for the exterior that appeal to the broadest range of customers. This means that you may have to depend on painting and decorating after purchasing your house to make your home stands out from your neighbors. Every homeowner wants a unique homes or at least somewhat unique! If you are looking for a pre-built new home, this may not be what you get, so you will have to spend a little more to make your home as distinctive as possible from the other houses in your neighborhood.
Waiting: If you are taking a look at new homes that are built (a spec home), this is not a factor. However, if you are building a custom home, you will have to wait several months longer to move into your new home than you would if it were an existing home. No worries! That is more time to save up for any new furniture or art that you want, for instance!
Varying by market and builder, a custom home will take five to six months (maybe longer) to complete, and costs may exceed your initial expectations. You should be prepared to be patient and expect unforeseen costs while waiting to start your life in your new home.
As you can see, whether you choose a pre-existing home or new construction, they both have their pros and cons. Finding out which works better for your lifestyle is key to finding the perfect home. If you are interested in new construction for your home, you should learn more about the different types of new homes, tips for buying a brand new home, and the steps to building a custom home. These will help in making sure that you have your dream home or at least a home that is respectable.