Are you considering purchasing a newly-constructed home? It can be an exciting proposition – the ability to customize different features and pick your favorite finishes. But as with any major purchase, it’s important to consider both the benefits and drawbacks of new construction to make the best buying decision.
Pro: Energy Efficient
One of the biggest pros of a brand new home is that they are built to be more energy efficient than older homes. This is especially important to consumers, thanks to rising utility costs.
Con: More Expensive Than Pre-Owned
On average, buying a new-construction home costs 30% more than a pre-existing one. For many buyers, this may be a small price to pay for lower maintenance costs and other pros. But if you’re looking to save, consider pre-owned. As always, the choice is up to you and what you can afford.
Pro: Less Maintenance
New homes will generally have less maintenance for homeowners than older ones. Owners don’t have to worry about leaks or electrical problems. No matter how new the house is, always get a third-party home inspection. A professional inspector will walk through the home, ensure no shortcuts were taken, and ensure all is well with the house.
Remember that, new or old, you will have to maintain it.
Con: Off-Gassing
That “new home smell” can be bad for your health! That smell is volatile organic compounds (VOCs), a group of chemicals that are found in products used to build and maintain homes:
- Cleaning supplies
- Building materials
- Paints and lacquers
- Paint strippers
These can affect the air quality in the home, so be aware if you are sensitive to these compounds. If you’re able, open the windows to get fresh air flow.
Pro: Home Builder Warranties
If you have been working with a builder to build your home, they will offer warranties that will cover anything that happens to the house within two years of the date of the purchase. This is a great offer, as it means the home’s floors, plumbing, electrical work, or other permanent features will be covered by the home builder warranty.
Con: Property Taxes May Be Higher
When you buy a new home, be prepared for higher property taxes. Though it varies by neighborhood, you can expect to see a higher bill because when your community was being built, the city had to build the infrastructure: roads, electrical grids, water, and more. These bills are paid over time through higher property taxes.
Choose Merchant Of Homes To Help You Find The Best Home For You
When it’s time for you to purchase a home, old or new, turn to the experts at Merchant of Homes. With over 20 years of experience as one of Missouri’s highest-rated real estate agents, we are specially equipped to help you find the home of your dreams. Whether it’s in town or tucked away in the country, we can get you home.