Home buyers have a choice in today’s market of purchasing a new home, a resale or a foreclosure. There are many considerations as you choose what type of home is the “right” home for you and your family.When buying a new home there are many advantages that will save the “new homeowner” a substantial amount of money and aggravation now and in the future.
- Home Warranties: In a new home the warranties all begin from the closing date of the home. Items such as appliances usually have a 1 year builder’s warranty and appliance manufacturers offer extended warranties on their individual appliances in addition to it. The thought of getting a home where “everything” is covered for 1, 5, even 20 years for items such as structural or roofing systems is definitely the appeal for many home buyers.
- Customization: When you choose to buy a new home you can customize your appliances, flooring, paint colors and other design elements and build a home that defines your lifestyle. Many home builders allow buyers to participate in the process of designing their property, which helps create a living space specifically tailored to the home buyer’s taste.
- Energy Efficient: Newly constructed homes use energy more efficiently in two ways, says Kevin Morrow, senior program manager for the National Association of Home Builders’ green building programs. First, they tend to have a tighter-sealed building envelope that helps prevent conditioned air—cool air in the summer, warm air in the winter—from escaping. This can be a huge cost savings for the new home buyer. Think higher-efficiency insulation, doors and windows.
- Green appliances: The more energy-efficient mechanics of the house also help reduce utility bills for new home buyers says Kevin Morrow. Newly-constructed homes often include green systems and appliances—like high efficiency stoves, refrigerators, washing machines, water heaters, furnaces, or air conditioning units—that homes built years ago might not. “The conditioning equipment is usually considered to be one of the larger energy consumption devices, but certainly those kitchen appliances matter,” Morrow says. Existing homeowners can always retrofit their property or buy higher-efficiency appliances, but doing so requires a potentially significant expense.
- Fewer Repairs.: When purchasing a new home home buyers will have fewer repairs. When choosing a re-sale home there may be carpets, appliances or other updates to the house that may incur substantial cost to repair or replace.
- Financing: New home buyers may be able to take advantage of mortgage financing perks made available through their builder. “New home builders have their own preferred lenders that may offer perks such as paying points or closing costs and buy down certain rates for you. The seller of a resale home is generally not going to do that for the buyer.
But you may be drawn to a newly constructed home for some reasons that are not obvious.
Building a Community Together
A brand-new community is one of the built-in benefits of many new homes. When families move in to a subdivision at the same time, often lasting bonds of friendship and neighborliness are formed right away. Nobody is the “new kid on the block,” and many home builders host community block parties in new developments to help owners meet and connect.
Many of the older communities do not offer amenities. Purchasing a newly constructed home in today’s communities may bring with it swimming pools, tennis courts, clubhouses, lakes, walking trails and community areas that will help the new homeowner to form lasting relationships with their neighbors.
New Open Floor Plans
Most new home communities have an abundance of open floor plans that are perfect for entertaining. The kitchens are open to the family rooms and entertaining becomes a breeze in these wonderful open plans.
More Advanced Wiring
A few dozen years ago, builders had no concept for the electronic age that is todays consumer. When you purchase a newly constructed home it may be able to accommodate advanced technologies like structured wiring, security systems, whole house wiring for technology for today’s televisions, phones and internet. Wiring can be tailored to meet the individual home owner needs.