Today’s homebuyers have many considerations to take into account. What neighborhood will they choose? Which schools are best? What kind of downpayment should they make? One consideration that many buyers forget is whether a pre-owned home or a new home is best for their needs. Here are some factors to keep in mind when making this choice.
Enjoy Moving Into a Home Where Everything is New
The obvious benefit of buying new is the fact that everything is, well, brand new. From the carpeting to the paint, you won’t have to wonder if someone else left behind dirt or grime in your home. You will be the first person to use everything, from the oven to the showers.
If you buy the home before it is complete, you also get the benefit of choices. You can choose the counter tops, vanities, paint color, siding, flooring and even the lighting fixtures. You don’t have to rely on someone else’s choices or be stuck with the job of making someone else’s home yours.
Yet that’s just the beginning of the benefits. New homes come with warranties on everything from the foundation and structure to the electrical and all major appliances. Builders stand behind their work, and this saves you money if something goes wrong.
You’ll also find that your homeowner’s insurance is lower on a new home. You can expect to save 40 to 50 percent on insurance by buying new. Because everything in the home is new and meets the latest building codes, insurance providers know the home is less of a risk, and they pass that benefit on to you through lower insurance costs.
What happens when your homeowner’s insurance costs drop by as much as 50 percent? Suddenly you have more money to use to purchase your home! You will find that you can qualify for a larger loan with a lower homeowner’s insurance.
Newly built homes are also more efficient than pre-owned homes. Builders are using energy efficient materials and new building techniques to ensure that the home uses its heating and cooling energy as efficiently as possible. The addition of more efficient appliances also helps lower your energy costs. Over time, these savings add up significantly.
You’ve heard horror stories about people buying homes that look great on the outside, only to find that there was hidden mold in the basement or a costly sewage problem to deal with. With a new home, you won’t have any hidden surprises.
A New Neighborhood
When you move into a newly built home, in most cases the entire neighborhood is new. New sidewalks, parks, landscaping and neighbors who are just as excited about building a community. Everyone is ready to make friends and create a true sense of community.
Buying a new home simply makes sense for a lot of reasons. You don’t have to start where someone else left off, but rather can start fresh — for yourself. In your home search, don’t overlook the benefits of buying new.