New Construction VS Resale: Should I Buy New?
New Home Shopping Tips by The Yeatman Group | The Official Real Estate Partner
Should you buy a brand new home, or an existing home? Do you want something with history, or a blank canvas? It’s a question that comes up more often than not.
Stats have shown that when buyers are given the choice of buying new or used, the majority will choose new. There’s just something about buying a home that’s not only been untouched but can be made just the way you like it. And in today’s market, new homes are more affordable than you might think.
So to help you with this decision, we’ve listed some pros and cons of buying a new construction home.
New Construction Pros:
Even if you’re not building a custom home from scratch, you may be able to upgrade finishes from builder grade material and add your own personal touches before construction is complete.
New homes offer modern floorplans. Today’s buyers want an open layout which means large living spaces, whereas in older homes, rooms tend to be compartmentalized.
When you buy new, you are also getting new appliances and new systems. Newer homes are built with efficiency in mind, therefore creating homes that are less expensive to heat or cool (a.k.a lower utility bills).
A newly built home requires less maintenance since appliances and home systems are all brand new. Additionally, builders offer a 1-year warranty and some offer up to a 10-year warranty.
Buying a new construction home often means buying a lifestyle. Many new construction homes are built in master or planned communities, meaning you will have the best amenities available to you and your family. Pools, playgrounds, community spaces. etc.
New Construction Home: Cons
Typically, when buying an existing home different factors can lead to a negotiation of the price. When it comes to new construction, there is little to no room for negotiations regarding price.
Many new homes lack mature landscaping due to trees needing to be salvaged at new building sites but the landscaping will eventually grow into itself.
New construction typically costs more than an existing home but will actually save you money in the long end with energy efficient features and low maintenance costs.
Did this help? If you are thinking about buying a new construction home, or possibly custom building your own, The Yeatman Group would love to talk to you. We represent 10 premier custom builders in the Richmond area, and have vast experience with buying in the hottest new home neighborhoods around Central Virginia. We are your New Home experts! Call us today at 804.NEW.HOME and let’s discuss some options.