Many people question whether they should buy a newly constructed home or buy a pre-owned property. There are definitely benefits of owning a new construction home, but there are also a couple of drawbacks. It’s best to know them as well before you make any decisions. Here’s a simple list of pros and cons to help you out.
Pro #1: No Need For Updating
One of the biggest benefits of owning a new construction home is that you don’t need to worry about updating it. This is a big expense that can add up over time, so it’s nice to be able to avoid it. Plus, you can choose the finishes and features that you want in your home, which is a great way to customize it to your own taste.
Pro #2: Increased Home Value
Another great benefit of owning a new construction home is that it often increases in value over time. This means that you may be able to sell it for more than you paid for it, which can be a great investment.
Pro #3: Less Maintenance
Another major advantage of buying a new construction home is that it will require less maintenance than an older home. Most of the time, you’ll be able to enjoy years of peace of mind without having to worry about complex maintenance issues.
Many of the components in new construction homes are covered by a warranty. That means that if something needs to be fixed, you can contact the builder to have it taken care of. This can save you thousands of dollars over the lifetime of your home.
Pro #4: Better Energy Efficiency
If you’re looking for a home that’s energy efficient, you’re going to have a hard time finding anything better than a new construction home.
Builders are constantly trying to stay on top of energy efficiency trends. They’re aware of how important it is for people to save money on their energy bills. That’s why they use the best materials and technology to make sure their homes are as efficient as possible.
Con #1: Higher Initial Cost
The downside to owning a new construction home is that it often comes with a higher initial cost. This means that you’ll need to save up more money before you can buy it. However, the long-term benefits may be worth it.
Con #2: Delays & Incompetence
Unfortunately, not all new construction homes are created equal. Sometimes, there are delays in the construction process, or the work is done poorly. This can be a huge inconvenience and can end up costing you a lot of money. It’s important to do your research before you buy a new construction home to make sure that you’re choosing a reputable builder.
Con #3: Limited Negotiation Power
When you’re buying a new construction home, you’re at the mercy of the builder. They are the ones who are in charge of setting the price, and they aren’t likely to budge on it. This can be a problem if the builder is asking for too much money or if you don’t like the features that they’re offering.
If you’re buying a pre-owned home, you have the opportunity to negotiate with the seller. You can try to get them to lower the price or to include certain features in the sale. This isn’t possible when you’re buying a new construction home.
There are pros and cons to purchasing a new construction home. Some people feel that buying a new construction home is a great investment, as it provides them with a new home to call their own. Others feel that buying a new construction home is not the right choice for them, as they do not have enough experience or knowledge to deal with the construction process. Whatever you choose, make sure you buy a home that suits your needs and your budget.
Are you ready to buy your own house? Let BuyHouseEZ guide you through the entire home buying process from start to finish. As our name suggests, we make home buying easy, hassle-free, and convenient. We give you the option of easy home ownership by working with our team. Reach out to us today and let one of our representatives work with you so you can find your dream home.