Debunking the Top Myths of Buying New
New Home Shopping Tips by The Yeatman Group | The Official Real Estate Partner
Myth #1: New construction is more expensive than resale
When people hear “new home” they think of all the dollar signs associated with it. But we are here to tell you that sometimes buying new can save you money in the long run. Think about it this way – older homes are just that, old. Buying resale means your years closer to having to buy a new HVAC system, or a new dishwasher. You also might have some updating to do (or a lot), and remodeling can cost on average up to twice as much per square foot as building new. Compare this to new construction where everything is, well…NEW! Most new homes offer energy efficient features and warranties to help cover costly repairs (if there even are any), all of which save you money.
Myth #2: New Construction homes all look the same
Before we go any further, make sure to attend Richmond Homearama this year – notice anything? Homes here, just like homes in several other neighborhoods in Central VA (Hallsley, Rountrey, Magnolia Green), are far from cookie-cutter. Yes, each of these communities do have guidelines to keep a somewhat cohesive look to the neighborhood and to make sure there’s no pink Barbie mansions that give the neighbors a headache. But when you work with a custom home builder it’s all about customizing your home to fit your wants and needs. The Yeatman Group’s builder partners offer a high level of customization to set your home apart from the rest. Choose your exterior features, paint colors, number of rooms, number of bathrooms, cabinets, fixtures, etc, etc. Build custom and make your Pinterest board come to life!
Myth #3: Choose the builder with the lowest bid
As the old saying goes “you get what you pay for.” When shopping for a homebuilder, going for the lowest bid might not be the best choice as you may be sacrificing quality, and added features you might get with another builder. Do your research! What’s their reputation like? Do their floorplans fit your lifestyle? What are previous customers saying? This is one of the biggest purchases you’ll make in your lifetime so make sure to work with a homebuilder that you can trust and has your best interest in mind.
Myth #4: Building takes ages
This myth all depends on the situation. For example, building custom means you have infinite amount of options to choose from compared to building with a production builder. The faster you make a decision on your paint colors and backsplash, the faster the process will go. Building custom can sometimes mean building something completely from scratch, while a production builder has designated floorplans ready to go. Custom and production both have their positive and their negatives – it’s up to you decide what fits your lifestyle and your timeline best.
If you really don’t want to wait, most builders have standing inventory available for purchase, otherwise known as “Spec” homes. The Yeatman Group works with several local homebuilders and has a large selection of spec homes available at www.theyeatmangroup.com.
Still have concerns or questions about buying new? Feel free to reach out to us anytime at 804.NEW.HOME, we’d be more than happy to answer any of your questions regarding the home building and buying process.