Buying a new construction home will give you a lot of underrated benefits, both financially and emotionally. While the financial benefits are a huge plus, living in a new home you love walking into will give you quality of life and peace of mind. While it’s easy to get excited and jump right in, there are a few things to keep in mind before starting the process. We’re here to dispel some common misconceptions about new construction homes so you can navigate the process with ease.
New Homes are More Expensive than Pre-Owned
One of the most common misconceptions about new homes is the cost. Many people incorrectly believe that new construction homes are more expensive than their pre-owned counterparts. In actuality, you save a lot of money when buying new. When working with custom home builders, you have the ability to construct and customize a budget that suits you. Things to consider that will affect home price include:
- The size of the home (why pay for more space than you may need or want?)
- Specific features of the home (invest in only the features that you want to live with)
- Hardware and appliance choices (save money throughout the life of the home with newer, appliances and warranties)
- Lot size (find and buy what suits you best)
Other cost benefits of new homes to consider:
- Energy efficiency: Newer homes are better insulated and energy efficient than older homes, saving you money over the life of the loan.
- New fixtures and features: Older homes often have items that need to be repaired and or replaced, which can add up.
Customization: If you want to customize any feature of a previously-owned home, like new flooring or cabinets, this will be a large investment – requiring you to hire contractors to get the appropriate permits in place and more. Customizing a new home during the building process is much easier.
But don’t worry, your builder will walk you through all of these steps, working with you to ensure you create the home you love for the price you expect.
There Is a Lengthy Wait to Move Into a New Construction Home
Because building a quality home can take some time, many home buyers are scared to purchase a new home. The truth is that construction companies understand some buyers want to move quickly. Many builders have inventory already available that can help buyers who are ready to move. If you’re building a home from scratch, many builders can have your home finished in three to six months.
Additionally, builders can help buyers find homes that are near completion. You can work with your builder to find a model you like that is close to completion. Finding a nearly completed home would put you on roughly the same timeline as buying a previously-owned home.
Buying a New Home is Stressful
Buying a new home is an exciting time, and buying a newly constructed home can be a pleasant and stress-free experience. New home construction companies are very experienced with the entire process of building and buying homes. A reputable builder, like the ones found within our site, will be willing to walk you through the process to make buying your new home a breeze. You can work with your builder on everything from design preferences and lifestyle needs to selecting the best lender.
Want to learn more about the benefits of buying a new home? Check out our past article Reasons Why a Newly Constructed House is Right for You. Ready to find the home of your dreams? Find new construction homes near you with our handy search feature.