Homebuyers have a lot to think about when searching for a new home. Purchasing property involves:
- Finding a suitable residence.
- Securing financing.
- Going through the process of making an offer and closing on the purchase.
Homebuyers typically start their search by establishing a budget and then narrowing the home options to those within their price range. However, there are other variables to consider.
Many new homes are built on spec, meaning they’re started without a buyer yet committed to them. Builders do this to save time and money by getting the house built faster. However, spec homes limit homebuyers’ options for customization to their tastes.
New construction homes are designed to meet the latest building codes and safety regulations, making them typically easier to maintain than older homes. This means you’ll have fewer out-of-pocket expenses after moving in and can spend more time enjoying your new space.
Buying a new home also comes with the advantage of warranties for appliances, mechanicals, and the house itself that aren’t available for existing homes. These warranties start from the closing date and can give peace of mind to homeowners looking for a low-maintenance abode.
Better Energy Efficiency
Energy-efficient upgrades can shrink utility bills and even add to home values. According to a report by NerdWallet, homes with these green features often sell for higher prices than comparable homes in the area.
Newly built homes have a tightly sealed envelope to keep the air-conditioned during summer and warm during winter. Many Your Home Wichita include green systems and appliances like high-efficiency stoves, washers, refrigerators, and air conditioning equipment that can further reduce homeowner energy usage.
Of course, the cost of a new home is a significant consideration for many buyers. However, a new construction home may be less expensive than an older one per square foot, depending on current labor and material rates.
When buying a new home, one of the most critical factors for many buyers is more space. In a survey conducted by NAHB, respondents said they wanted a median of 2,022 square feet. That is 8% more than what they currently have. This additional space can be a huge selling point for your home, especially if you live in an area with high property values. The extra space could also improve your quality of life if you want to commute less.
Acquiring a home can be a thrilling endeavor for a new homeowner. Many buyers have a list of must-haves and nice-to-haves regarding the size, location, and amenities they need from their future property.
As a result, it can be difficult for some prospective homebuyers to find the perfect property within their price range. However, with the rising price of land and materials, brand-new homes are not uncommon to come with a premium.
While a new construction home may cost more upfront, it could save buyers money in the long run due to lower maintenance costs and utility bills. Additionally, these homes often have a better location than older properties in the same area. The location could be a factor for first-time homeowners or those looking to live closer to the city center.
Buying a home is one of the most significant financial decisions many people make. Whether you purchase an existing home or build new construction, the decision has perks and disadvantages. Homeowners typically stay in their homes for several years, so finding the right one for you and your family is essential. New construction offers less maintenance, better energy efficiency, and a warranty that protects you from costly repairs. Often, new home communities offer on-site experts who know the community and can help you find your perfect fit. They can even help you design a home that’s unique to you.