Current first-time home buyers seem to have a laser focus on resale homes. However, it might be time to consider new construction. With tons of builders incentives and the recent market correction, new construction is a lot more accessible than it has been in the last couple of years. There are many factors to consider, all of which change based on your personal needs, but imagine having the opportunity to create a modern and trendy home that is the perfect expression of your taste and personality, that comes with extra insurance, in an up-and-coming neighbourhood filled with new parks and trails. Sounds too good to be true right?! Wrong.
The customization opportunity is extremely appealing to many as you work with designers and contractors to create a custom home to your taste. Pick out the countertops, the lighting fixtures, the layout, the cabinet colour, the bathroom tile, the list goes on and on.
Previously, these costs were to be paid for as you were making your selections with the designer, making upgrades and customization not very monetarily accessible. The good news, currently we are seeing builders including these costs into the price of their builds, so moving into a turn-key home that is the perfect expression of you is right around the corner.
As a new homeowner, there are after-closing costs that always come up, it’s the joy of home-ownership. Appliances break, foundations leak, and things just happen! With new construction homes, the builder provides warranties to help if anything with your home comes up, giving you added insurance and comfort during your first couple of years of home ownership.
Finding a newly built home within an established neighbourhood is a rare occurrence, and if you ever find these opportunities, they are worth your investment. There is also something to be said about purchasing a new home, in a brand new neighbourhood, where there are no stigmas attached to these communities from the rest of the city/town, giving the new community moving there an opportunity to start fresh.
These newly established neighbourhoods also at times provide updated amenities such as parks, trails etc. for your family to enjoy. Builders will often work with townships and counties to plan these spaces and improvements before homes are even offered for sale, to show you, the prospective buyer, developments and community incentives coming to your new neighbourhood. These incentives help give buyers the big picture of where they are laying their roots down.
Pre-sale homes often come with their own unique character which makes them charming and also constantly in need of upgrades/updates as the years go on. With new construction, these homes are being built to the newest building codes making the upkeep and maintenance for the first 10 years at the lower end. Items such as shingles, pipes, electrical, mechanicals etc you know won’t need to be touched. or come with warranties. They are also built to the newest energy efficiency standards. With your home staying warmer longer thanks to the proper insulation, windows, doors etc, you use less energy to heat or cool your home. Save on bills, and reduce your energy footprint.
As always, talking to a real estate professional is the best way to find your dream home, but if they aren’t showing you newly built homes, it’s time to switch it up.