by Matt Valvano Buying a house is always a person’s dream. But it brings a lot of thinking, research, and consultation. Before purchasing a home, you might be confused about what to buy? In the means of its ownership. Either purchase new construction or buy a house, which is previously owned by someone else, the decision depends upon your preference and ease.
Both of these purchases have their pros and cons with every individual’s choice, who are having their preferences. For today we will be discussing buying new construction, and briefly discuss its pros and cons.
Pros of Buying New Construction:
Like every other purchase, buying a new construction has its benefits like any other real estate. Structure, finishing, interior, utilities, and location all need a lot of research and attention before coming up with a decision to buy new construction. And most important of them is your budget. Starting with the pros here are some common Pros of buying new construction:
- New Home Design
- Luxury Features
- Eco Friendly
- Cost-Efficient Maintenance
All of these Pros define how much of a benefit you can have if you choose to buy new construction or go for building your own.
New Home Design:
If you are concerned about the design of your new house, it is always preferred to buy new construction. New construction homes are designed by following modern housing trends. With all high-tech facilities, modern interior, and exterior these houses are high in demand because old houses are neither always equipped with such facilities nor have any adjustment options. New homes are often considered more well designed than the old ones. There interior and exterior are built based on modern ideas and their future outlook.
Personalized Luxury Feature Options in New Construction:
New Construction homes have so many options to entertain your every need. Either you buy a newly constructed house, or you go for building your own. You have so many options open to make your living space according to your need. This ease of customization isn’t available with old houses. With minimal alternatives for changing the interior, which is constrained by the size of your rooms. On the other hand, you can easily construct your house according to the interior of your choice.
On the other hand, you can easily construct your house according to the interior of your choice. Besides the interior customization, you also have options to make your homes depending upon your future needs. If you want more of your family members to join you at your house, you might need more space. In such a scenario or other than that, it is preferred to construct a new home in a customized way to make your living experience comfortable.
Live Eco Friendly with New Construction:
New construction homes follow all modern needs and trends, making them the best choice for your comfortable living. Moreover, they are built with eco-friendly construction techniques. They also use high-tech devices and efficient wiring systems to cost less on energy bills. These eco-friendly houses will make you save money and are safe as well from short circuits. Modern construction techniques are used to construct such homes, which causes less damage to the environment. Other than that, these houses can also hold the solar sheet, or a small wind turbine to make energy for home uses depending upon your demand.
Cost-Efficient Maintenance:
House maintenance is always a thing to worry about if you buy an old house. But with new construction, you will have to worry less about its maintenance. Because of its new-build structure, it will take time to require support. At least for a year or two, you will be spending almost no money on your repair and maintenance. Other than that, if the house is up to your need, you don’t have to make necessary changes according to your requirement in the future which can save your money and time.
Cons of Buying a New Construction:
Although you can find many pros of buying new construction, still there are several cons to it. As we discussed earlier, buying a house needs a lot of attention and research from every aspect. There are several aspects, which require a lot to be consulted like neighborhood, environment, and community.
These aspects are often considered as a con for buying new construction. Because new developments are often in new places far from city areas, some of Cons of buying a new constructions include:
- Immature Landscape
- Unestablished Neighborhood
- Expensive Upgrades
- Expensive
- Non durable structure
Before discussing further the cons of buying new construction, it is essential to tell that these cons may vary based on location and individual preferences.
Immature Landscape:
If you are searching for a house with a beautiful backyard and a charming front, then new constructions might not be the right choice. New constructions have an immature landscape because it takes time to grow beautiful trees and plants around your house. New constructions are often built at new places far from the city center. These societies take time to create a mature landscape because of continuous development and changes in infrastructure. It will also take time for you to adjust and fully adopt that place.
Unestablished Neighborhood:
As we discussed earlier, new constructions are built far from city centers. They are commonly constructed in modern societies formed around city centers. Because of their new incorporation, the living community of such corporations needs time to develop an established community and neighborhood. If you are in search of a well-established area, then you should prefer buying an old house in an established neighborhood.
If you are searching for a well-established area, you should prefer buying an old house in an established neighborhood. It takes time to adjust to quickly changing people because such a new town takes time to inhabit a mature community.
Expensive upgrades:
Enjoying modern luxury brings cost. New constructions cost high if you want any upgrade. They are constructed following current trends, because of it, they have options for an update. But it cost you more than having an upgrade at an old house. The structure of these houses are specially designed to support any upgrade but require several prior adjustments, which can cost some additional cash over your pocket. Moreover, these upgrades in itself are quite expensive because they are specially designed on-demand or are customized.
That is why we use builder incentives that can be used towards luxury upgrades or towards closing. Within my communities, we offer incentives anywhere from $4,000.00 to $8,000.00 to use as you choose!
Expensive:
Buying an old house might have someone’s emotions, which makes price bargaining hard for buyers. But having new construction can cause you more than buying an old home. New construction has some additional expenses to cover up.
If you purchase an old house, you will be worried about your agent’s commission only. But for new construction, you have to deal with several other agents, which costs more. If you are buying land separately and then hiring another builder separately, then you are dealing with the double cost of agenting. There are several other things which can cost you more.
Major Benefit to Consider – Most newly constructed communities will not lower their new home pricing. This is a benefit to you as you can rest assured that your investment will not be undercut by a new neighbor!
Non durable Structure:
Old constructions have a durable house structure. While new constructions have a non-durable structure, which decreases the strength and life of your house. Using lightweight building material causes the durability of new construction to decrease over time. On the other hand, old homes were built with heavy material using stones and heavy steel, making them more durable than new construction.
Are you still looking for help? We have a solution for you.
How can Mattyval help you?
Mattyval is a real estate specialist who is ready to help you with your queries. Mattyval believes in the essence of sharing knowledge. Whether you are wondering to sell your home or looking to build a new home, he would love to assist you with your exciting adventure!
Being a marketing and sales specialist, I know how it works for you about consulting someone who knows better. As of my experience in the field, I know insight out of the real estate market dynamics. I can help you understand your needs and analyze them through available resources to make a better choice.
Bottom Line:
After discussing the pros and cons, you might come up with some useful information regarding the better options for buying a new house. All of these points may differ based on your personal preferences. It is better to discuss your preferences and your desires with your agent before selecting your choice. Based on the location, area, and time of the year, you might observe differences in prices and time duration for your construction. It is better to research every possible aspect and consult relevant people before making a choice.