New construction home or resale? This is a question many home shoppers ask when beginning their new home search. Which one is right for you can depend on many factors, including lifestyle preference and personal priorities. Here are eight reasons why a new construction home may be the better choice for you.
Read the Full Guide to Purchasing a
New Construction Home
1. Less Maintenance
One of the main benefits of buying a new construction home is that EVERYTHING is new. From the appliances to heating and cooling systems to the windows and the roof, everything in the home is new and less likely to need repairs. Taking care of home repairs requires time and can be costly. New home construction offers a low maintenance lifestyle that allows you to spend more time doing the things you love.
2. Increased Energy Efficiency
Energy efficient homes offer benefits to both the homeowner and the environment. Homes built today are subject to much stricter standards for energy efficiency than previously built homes. Energy efficient features, such as an airtight building envelope, properly installed insulation and Energy Star windows and doors, can help improve comfort in the home and significantly reduce your utility bills. Furthermore, new highly-efficient appliances such as induction cooktops offer benefits such as the use of cleaner electric energy, improved indoor air quality and more. All-electric homes are becoming a more popular option and another thing to consider when shopping for your next new home. In addition to saving money, homes built using the best in green building practices minimize the impact on the environment.
3. Ability to Personalize
Even if you aren't purchasing a custom home, most builders offer the opportunity to personalize home features. Personalization may include structural options such as the number of bedrooms and baths and/or selections options such as upgraded appliances, finish choices and more. If you prefer to have your home personalized prior to moving in, then a new construction home may be the right choice for you.
4. Offers the Latest Smart Home Technology
If you love the latest technology and want your home to include smart features, new construction may be a better choice for you. While there are many devices available to use in any home, building a new home offers the ability to include new smart appliances and sophisticated wiring that may be needed for advanced home technology systems, such as security monitoring, lighting control systems and sound.
Want to learn about some of the latest smart home tech trends? Check out this article.
5. Improved Air Quality
New construction homes may offer superior indoor air quality versus older homes, resulting in a healthier home environment. Elements that improve indoor air quality include an airtight and watertight building envelope, properly installed building wrap, air sealant and insulation and the use of low-VOC (volatile organic compounds) paint and carpet.
Furthermore, all-electric homes reduce the risk of gas leaks or carbon monoxide poisoning associated with gas-powered appliances. Additionally, with no open flames, there is less risk of fire in the home. New energy efficient electric appliances can provide better indoor air quality compared to their gas counterparts, as they do not produce combustion byproducts or emissions.
Check with your builder to see if the company provides these air quality
improvement features and options.
6. Includes Builder's Warranty
Purchasing a new construction home can reduce the stress of potential home repairs covered under the builder's warranty. A builder's warranty typically includes features such as materials, workmanship and structure (appliances may be under the manufacturer's warranty). If you are concerned about unexpected home repair costs, then a new construction home may be the better option for you. Be sure you understand what items may be excluded from warranty and what can cause a warranty to become void.
7. Wider Buying Timeframe Options
New home builders typically offer more buying time frame options than if you are purchasing an existing home. Buying time frames may range from immediate to over a year. Perhaps you need more time to prepare your current home for sale, but want to lock in a low interest rate. Purchasing new construction allows you to lock in an interest rate today, while providing more time to prepare for your move.
If you are purchasing a condo in a brand new building, it may take two years or more for the building to be completed. Or, sometimes a builder may have a spec home available for immediate move-in. Due to various factors, builders may begin the construction process on a homesite before anyone has purchased it. If that home gets built to completion without anyone purchasing it, it is often referred to as a “spec home.” Spec homes are finished (or almost finished) homes that have a quick move-in timeframe.
The advantage of a spec home is that you could move into a brand new home right away. The disadvantage is that you wouldn’t have the opportunity to customize the home as it is already completed. Whether or not a spec home may be the right choice often depends upon a person’s desired moving timeframe.
8. Peace of Mind
Buying a new construction home can offer increased peace of mind. You see your home being built and know everything from the foundation to frame is new. When purchasing a resale, there is uncertainty as to what the inspection may uncover, causing added stress up to settlement and beyond.
Additional Resources & Helpful Links
Below are some additional resources and helpful links to learn more about new construction homes.
- New Home Source: The Top 10 Reasons Home Buyers Prefer New vs. Used
- Zillow: New Construction Vs Existing Homes - The Pros and Cons of Both
- New Home Source: New Home or Resale, Which is Right for You?
- New Home Source: A Step-By-Step Guide to the Home Building Process
- New Home Source: 8 Tips for Selecting Options and Upgrades from Your Builder
- Zillow: What does a Builder’s Warranty Cover?
Conclusion
If you think that a new construction home may be right for you and you'd like to learn more, check out our Comprehensive Guide to Purchasing a New Construction Home. This guide is full of tips, resources and answers to questions you may have such as: How do I choose and select options for my home? Is the purchase process similar to buying a resale home?
You may view the guide online or download it for further reference.
