I’m back today to discuss the advantages and disadvantages of buying new construction homes. It all depends on you, and what you need and want.
Many people who are insistent on buying new construction say they want to be the first to use everything in their new house (including the toilet). In our case, we were in the military (now we’re retired). When we were active-duty and had to move, we bought a house everywhere we went. Since I knew we wouldn’t be there that long, I looked for homes about five years old or fewer because they had typically done all the basic things needed in a house, and I didn’t have to worry about them.
“Sometimes homes in a new subdivision will cost a bit less to draw people to them.”
Sometimes homes in a new subdivision will cost a bit less to draw people to them. If you have a house for sale at the same time, how that works depends on what’s going on in the market. Builders know it’s an active market for both new construction and resale homes right now. So if your for-sale house is priced correctly, looks great, and is in a good location, the builder may be willing to offer a contingency on the sale of your current property. Also, there are financing options if you need to sell a home before buying a new one.
However, if you’re building a house from scratch, every detail must be outlined and confirmed ahead of time. If the home is partly done, sometimes you can still make some changes, but it depends on the builder. Some builders will charge you around $100 for every little change you want to make to the house. This is why it’s crucial to hire a real estate agent who knows the marketand what to put in your contract so you’re not paying for tons of alterations later. I’ve seen people spend thousands of dollars making changes because they didn’t plan it out in the beginning.
Whether you’re looking at new construction or resale homes, we can help you. We have experts who will help you get the best deal based on the current market. Give us a call or send an email if you have more questions about new construction or real estate in general. We would be happy to help you.