New Home Construction: Why Spending More Upfront Can Save You Thousands A Little Later
If you're in the market for a new residential property to call home, then you'll have two options: You can purchase a previously-owned home, or you can purchase one that's brand-new. In the real estate industry, these are referred to as resale and new construction homes. Both types of property have their pros and cons, but perhaps you're leaning more towards a new construction home.
A huge deciding factor could be that you don't want to be bothered with investing huge chunks of cash into upgrades or repairs. Perhaps you'd prefer a turnkey scenario. That's fair, and there's actually a nice handful of reasons why new homes are the types of properties you need to invest in.
Up-to-the-moment architecture and design
Some potential home buyers like the idea of touring a property and imagining how they'd update a space by upgrading materials. They dream of the materials they'd buy for the new counters, they imagine what colors they'd paint the walls, and they ponder over what type of carpeting they'd install if they choose carpeting over hard flooring. But you might not be this type of buyer.
Perhaps you're the type of buyer who wants to walk into your kitchen and see counters and cabinets constructed out of the trendiest materials. You want to see your walls painted in color hues that speak to your aesthetic. Also, the paint should be in the most technically advanced finishes. In other words, you want to see your future home built and designed on-trend. You don't want to invest money into hoping that contractors can execute your vision.
You won't buy other people's problems
This is one of the most attractive features that new homes offer. When you consult with a realtor who specializes in new home sales, they'll agree that you won't have to concern yourself with buying a previous owner's problems. These problems include roofing issues, pest infestations, foundation issues, or design issues.
You'll still need to have your new property inspected to make sure that it was built soundly and in compliance with local ordinances. But you can rest assured that you're not going to invest money into a pit of previous property issues.
New properties resell at high price points
Let's face it: The older a property becomes, the less money that it will command on the open market, even if it's been upgraded and restored. Nothing takes the place of property that doesn't have a lot of years or residential mileage on it. This means that if and when you place your home on the market, you'll be able to command a higher asking price since it only had one previous owner.