Why Buy?
Research surveyed shows that homeownership gives more control to owners over their physical surroundings and tenure, lowers real monthly payments over time, protects against unanticipated changes in rental costs, and helps build wealth. But, let’s check out the pros on builing a new home with RA Custom Design.
New construction homes are popular for a variety of reasons. They offer buyers a blank slate to design their ideal living space. These options include everything from floor plan layouts to building construction materials. They also cover extra options for energy-efficient HVAC systems and customized cabinetry and doors.
However, there are a few cons to buying a newly built home that we’ll discuss below. Before purchasing a new construction property, you should consider these potential drawbacks as well as the advantages.
The home buying process is a lengthy one, but it can be made easier with proper knowledge. If you’re planning to build a new construction home, here’s what you need to know about the pros and cons.
You made the right decision choosing RA Custom Design. Now let’s look at some perks on builing your new home.
Pros on buying a new home:
Personalize & Customize
Customizing your new home is one of the most exciting parts of building new construction. A custom, tailor-made home provides a unique opportunity for builders to showcase their creative talent and craftsmanship. It also allows you to express yourself with finishes that reflect your tastes, preferences, and personalities.
Existing homes rarely offer the opportunity for you to change the layout of the house. At best, you can remodel and change out the old fixtures and finishings. If personalizing your next home is at the top of your wish list, then a customized new home may be very appealing for you.
Extra Clean
Want clean living for you and your family? Newly constructed homes offer the most sanitary solution possible. Moving into a new home knowing that no one has ever lived there is a great feeling. New houses provide all of the latest materials and sealants, making it impossible to find a cleaner option.
There are some drawbacks to the new materials, which we’ll mention in the cons below. Overall, living in a brand new house that no one has ever lived in will eliminate any nasty surprises you might find when buying an existing older home.
No Need For Updating
Architecturally speaking, we can say that an existing resale home is like a blank canvas. It’s just waiting to be created as the buyer sees fit. When you purchase your own new and improved masterpiece, there's no need for updating because the products used are taken from the current design trends.
When purchasing an existing resale house, the previous owners could have picked out the design choices decades ago, such as colors or flooring patterns. Many times, this leaves the new homeowner with the desire to update certain features. When building a new home with everything you want from scratch, there are many design choices that you get to make on your own. This pro is a significant benefit to buying a new home over an existing one.
Energy Efficiency
The new energy-efficient houses that are being constructed today can make everyday living much more manageable. Rising utility costs are a concern in 2021. The efficiency benefit from new construction causes utility costs to be lower than average. This benefit causes homeowners to worry less about their electricity and gas bills every month.
There are many reasons why these new construction houses are so energy-efficient. A few reasons include vinyl windows, new door trim and seals, and better insulation between walls to keeps out drafts. These products can reduce the need to heat and cool your home by a significant amount. The savings help to offset the higher cost of a new home in the long run.
Less Maintenance
New construction homes have less maintenance than older existing homes. You won’t have to worry about your roof leaking when it rains or your air conditioner breaking in the middle of summer. You can enjoy all the perks of living in a brand new home without maintenance headaches. When things do breakdown, they are typically covered by the builder’s warranty, which we’ll talk about next.
Even though a new construction home has brand new everything, we recommend getting a third-party home inspection anyway. Most people will only get a home inspection on pre-existing homes. After the cost of building, who wants to pay for a home inspection? In reality, a home inspection costs around $350 to $500. It can save you ten times that amount if anything is found to be defective.
Home Builder Warranties
When working with a builder, they will typically offer warranties that you could never get on a new home. Sure, you can buy a home warranty later, but that only covers a small number of items. Your homeowner’s insurance will cover significant events, but a builder’s warranty goes beyond all of that.
Many home builder warranties cover anything that happens to the home within two years of the date of purchase. Since the contractors are already working on new homes in the neighborhood, they can be repaired immediately. I’ve lived in a new construction home and was very impressed when I needed them to fix something. It was much more manageable than dealing with a home warranty or filing a homeowners insurance claim.
Not all home builders are equal. Their warranties can vary dramatically. Check reviews on the builder you’re considering by looking at their profile on the Better Business Bureau (BBB) website and ask around the community for additional feedback.
Home Builder Financing Incentives
Many home builders offer special in-house financing that rivals most 3rd party mortgage lenders. They may contribute $5,000 off of your closing costs for using their in-house funding, as an example. Since they are already making money off your home purchase, they have the extra margin to offer financing incentives that an outside source can't offer.
With all of that said, it is wise to shop around to make sure the mortgage offer you’re getting is the best one. Builder incentives change as the market switches from a seller to a buyer’s market. Currently, home builders are kings as the United States is facing a severe lack of inventory in the housing market right now.
“Owning a home is a keystone of wealth…both financial affluence and emotional security.”
Suze Orman