Owning a home is a great way to build equity for your future. But how do you decide between investing in a new home or settling for one that’s already built?
Newly constructed houses come at a higher price per square foot than resale homes, but buying new construction comes with several advantages that make it worth the investment.
You can customize the design.
Different people have different lifestyles, needs and style preferences. If you work with a builder, you can have a hand in designing your property. You can choose the number of bedrooms, and decide if a things like a study, game room or both are more important to you. Builders can tailor everything from the kitchen countertop and the type of flooring to the paint colors in each room to match your design essentials.
There are fewer repairs and less maintenance.
Newly constructed homes don’t have the wear and tear that many previously owned houses do. With a new home, you get a fresh start, complete with brand-new carpets and appliances. Buying new means never having to wonder how much life your furnace has left.
New homes are also safer investment options because modern houses are designed to minimize maintenance requirements. For instance, builders usually warranty their work and will take care of any repairs in your new home for the first year or longer. While many older homes are beautiful, they come with quirks and issues that can make them poor investment properties.
Increased energy-efficiency means lower utility bills.
Most new homes come equipped with Energy Star-rated appliances that use less energy. Builders can provide better insulation to increase the efficiency of heating and cooling systems in new homes, too. By using less power and maximizing your energy efficiency, you can turn your new home into a long-term financial asset.
New homes are often in excellent neighborhoods.
When you purchase a home, you’re not just committing to the land and the building—you’re committing to the neighborhood, too. If you’ve ever lived in a crowded apartment or in a busy residential area, you know how frustrating sharing your space can be. Newly built homes give you the opportunity to create a life in a peaceful area without worrying about thin walls and nosy neighbors.
Investing in a New Home: The Takeaways
There are many benefits to choosing new construction over purchasing a pre-owned house. Customization is at the top of most new home buyers’ lists, but buying new also gives you the chance to save money and the environment with increased energy efficiency, and exercise a little more control over the neighborhood you’ll be living in.
Overall, newly constructed properties make excellent investments and can eliminate the surprises that many new homeowners face.