There’s nothing like building your own home to realize your dreams of finding the perfect living space. It might take longer than buying a resale, but many people find it is worth the wait. Here are some discussion points to review with contractors in your area.
Avoid the bidding war
This is a wild time to be a home buyer. Across the country, resale houses are getting many, many offers with prices climbing far above appraised values. You can eliminate that stress by purchasing a new home. New construction houses are sold on a first-come, first-served basis. The price is set instead of multiple buyers bidding against you. There’s no appraisal gap, meaning you don’t have to come up with more money when your lender will only fund you for the appraised value of the home. You also don’t have to waive inspections or other contingencies to get into a new build like you might with a preowned home.
You can choose a home that fits your needs
New construction means you can personalize the house to suit your needs rather than remodeling an older home. Tall ceilings, big windows, and wide-open floor plans make a house look bright and welcoming. Many developers have flexible floor plans that allow you to make changes such as enlarging closets, adding a home office, and redesigning the kitchen and bathrooms. You might want to include a private suite to make multi-generational living possible. Design your home the way you want it.
Create your own style as you decorate
You have a clean slate going into a brand new house. Older homes may have plenty of charm, but that might also include dark, worn cabinets, shag carpeting, and outdated floral wallpaper. You can start fresh to bring in the colors and finishes that suit you. Get the gourmet kitchen of your dreams, the perfect bedroom, and a luxurious spa bathroom. Choosing everything from doorknobs to backsplash tiles not only makes the home personal, but it can also be fun to do!
Choose a community with great amenities
New builds are frequently in new neighborhoods with excellent amenities. You could have a swimming pool, a clubhouse suitable for parties, tennis courts, playgrounds, walking trails, or water features like a fishing lake or fountains. If you have a growing family and choose an area with good schools, you will likely find many of your neighbors are in the same stage of life. There will be plenty of playmates for your kids and new friends for you. Likewise, if you are retirees looking for an active lifestyle, there are new neighborhoods that will give you exactly what you want.
Get energy efficiency and less maintenance
A new home nearly always requires less maintenance than a resale. You can choose building materials for your new house that can reduce future problems, long-term and short-term. You also can make the new house energy efficient from the beginning. Ask your developer for the energy rating of their homes. Choose energy-efficient appliances, upgrade the insulation, and more. Plan on a greener, cleaner home with lower monthly utility bills.
You always benefit from an agent’s expertise
Many real estate agents have years of experience working with new construction homes. They can act as your advocate with the builder if something goes wrong, such as incorrect placement of a kitchen island or closet doors that aren’t the ones you originally chose. A new home purchase has many of the same requirements as an existing one. There will be an inspection, appraisal, walk-throughs, and closing date. Your agent will help you negotiate each step, bringing value to the whole process.
There is a pride of ownership with a newly built home that is different from any other feeling. You created this special place where no one else has lived before you. It has all been customized especially for you. It just may be the choice you want to make.