When we start looking at homes, you may want to consider purchasing a newer home. Although there are reasons why you may choose an older home, you should also consider the following when it comes to purchasing a newer home.
The “Just New” Feeling
If the home is being built for you, then you are the first one who is going to be living in the home. New construction, new foundation, new flooring, new paint, new kitchen, new...,new...new!
Depending on what phase of construction, you may have the opportunity to customize the home for YOU! You may be able to pick out the floor plan, colors, appliances, fixtures, etc. Check with the builder, ask questions, and ask if the price of the property would change based on your customization requests
When the home is finished being constructed, and you have closed and funded on the property, you get to move into the home! No remodeling. No repainting. Just the joys of moving into a new home.
Newer homes are more energy-efficient than older homes, but I highly recommend doing your research on the appliances, insulation, windows, etc. that make the home energy efficient so you can prolong the efficiency.
Newer homes are built with the most current codes.
Read over the builder's warranty to know exactly what is covered, and how long it is covered for, and timelines on when they will repair items.
Newer communities may have neighborhood amenities like a pool, a park, a community center, a country club, etc. Be prepared because there may be a homeowners association (HOA) fee as well. If there is, I recommend you research the HOA and what all it entails.
Before you submit an offer, I highly recommend you talk to a local lender first to make sure you have an idea about monthly payment and budget.