It's not always possible to purchase a new construction home in the neighborhood you want in the price point you need. But when there are new construction homes nearby (or a short drive away), there are definitely many benefits to purchasing new over purchasing a resale.
#1 Modern Designs
Home builders design their current floor plans with market trends and timeless conveniences in mind. This means you're going to have more opportunity to find an open concept layout with larger bathrooms and naturally lit interiors. In comparison, while a resale's layout may offer charm, it's going to be difficult to host a dinner party when the kitchen is at the back of the home and the living room is at the front. Or to have enough space for you and your significant other in a bathroom that's a total of 6 square feet.
#2 Turnkey
When you purchase a new construction home, every detail is taken care of for you before you even move in. There are no adjustments, upgrades, or additions that need to be made for the home to be livable and welcoming. That means you can break out the Pinterest board and focus on the fun decorating projects you've always wanted to do instead of trying to replace old floors, knocking down walls, or updating dusty light fixtures.
#3 Warranty
Most new homes come with a 1-2-10 warranty. It varies by builder, but this usually means that everything bumper-to-bumper is covered in the first year, then in year two your appliances remain covered (but not other things), and in the first ten years the home's structural elements are warrantied. If you're buying a resale that's already 10 years old, you may run into issues that are not in warranty and can cause headaches as soon as you close.
#4 Closing Cost Assistance
Closing costs usually amount to 5% of the home's price. So on a $250,000 home, you'll expect to pay around $12,500 in closing costs (on top of your down payment). Many builders offer closing cost assistance when you use their in house mortgage and title teams. This is a win-win, because you don't have to come out of pocket for all closing cost expenses, and your mortgage is being handled by a partner of the builder, which usually means for less hassle and headaches throughout the loan process.
#5 Energy Efficiency
A home built in 2017 is much more energy efficient than a home built in even 2012. The farther back you go, the less energy efficient a resale home will be. Ultimately, it's your monthly payment that you'll need to determine to budget for buying a home, so it's important to look at potential savings that can come from a lower electricity bill every month.
#6 Pick Your Options
Depending on the builder, and if you choose to purchase a to-be-built home (instead of an inventory or spec home), you can pick everything: homesite, floor plan, carpet, tile, fixtures, cabinets, cabinet colors, paint, the list goes on. You can have your dream home without having to worry about the renovations yourself. It might seem like a good idea to purchase a resale for less money and then Do-It-Yourself to fix it up, but make sure you look at the true costs (in both your time and your wallet) before deciding that's better than just having it all done for you when you move in.
#7 It's Brand New
The most obvious reason is last on the list! When you purchase a new home, you're the first owner and everything is truly yours. You don't have to spend hours peeling off somebody else's wallpaper or replacing all the toilet seats. You don't have to worry if someone's previous DIY work has actually made your house structurally unsound (or if they've done something without a permit which could lead to fines for you, the new owner). You can relax in your clean, fresh, new home knowing your its first and only owner.
If you're ready to purchase a new home, I am a local New Home Specialist and would love to help you. I can find the right community, builder, and floor plan to fit your needs, so contact me today.
Philippa Main
813.317.5556
PMain@KW.com
Keller Williams Tampa Properties
5020 W Linebaugh Ave #100
Tampa, FL 33618