Buying a new build home is often seen as a less stressful alternative to existing homes. That's because they offer a brand-new experience at an affordable price.
Outside of recession years, new builds have always been a popular housing option. According to FRED, 1.5 million new builds are currently under construction.
Though they aren't an ideal fit for every buyer, new builds provide many distinct advantages.
Why Is Buying a New Build Home Less Stressful?
Looking to take the stress out of the home-buying process? If so, here are five new construction advantages that can contribute to that worthwhile goal.
1. Brand-New Experience
One of the biggest benefits of new builds is that they're a blank canvas. Everything is brand new, from the tiling to the bathroom. You won't see any scratches or stains on the walls, and all the appliances and fixtures will work perfectly.
With existing homes, you'll often need to spend extra to get them in good working order. In a new build, you can start enjoying it as soon as you unpack.
2. Available Warranties
Most new-build homes come with robust warranties. If there's any issue with the house during the warranty period, such as a roof leak, the builder will take care of it. Think of the warranty as your protection from workmanship defects.
All counties have strict rules on new-home warranties. The standard warranty length is 10 years, and it's often split into two parts (source: Business Money).
3. Low Maintenance Costs
One secret to stress-free home buying is getting more bang for your buck. In new construction, this includes lower maintenance costs.
Since everything in your home will be new, the first few years should see you spend little on maintenance of:
- Home appliances
- Plumbing and electrical work
- Heating and cooling systems
4. Buyer Incentives
The ease of buying new builds extends to the incentives you get for doing it. You can shop around, but most builders would prefer you to work with their in-house lender.
As a result, you'll get the best terms without having to look for them. For instance, many builders will help buy down the mortgage rate or offer extended rate locks.
With the current mortgage rate situation, this can be a great deal.
5. Lower Bills
A new home purchase must comply with modern building regulations. That means these homes will likely be far more energy-efficient than existing houses. New homes by DSLD Homes are a great example of energy-efficient properties.
Beyond saving on your bills, an energy-efficient home opens up the possibility of green mortgages. This may result in even cheaper rates.
What Are the Cons of New Construction?
Despite being a great home-buying option, new construction houses do have a few drawbacks as well. Common examples include:
- Reselling a home in the first few years can be difficult
- Construction delays may push back your move-in date
- Desirable lots often involve paying an additional premium
Simplifying New Build Homes
As you can see, investing in new build construction is a great way to minimize stress during the home-buying process. The secret is to choose a reputable builder and interview them to ensure they can do the work on schedule.
Interested in becoming more acquainted with the real estate market? Keep reading our content for more housing tips and tricks!
This article was prepared by an independent contributor and helps us continue to deliver quality news and information.