Why Buy a Newly Constructed House?
Mortgage house hunters are faced with the choice of either buying a previously-owned home if not a foreclosed one, or buying a brand new home which are mostly costlier when one brings it down to per square foot. There are good selling points to these two choices but there are more advantages of buying a brand new one if you want to have a place where you can comfortably settle down for good.
In the case of a pre-owned home, we can find two selling points. With a pre-owned home you will have a lower monthly amortization because it is cheaper. There are, however, other expenditures that you have to think about in a pre-owned home like repairs or replacements in the future. The other selling point however, is when one puts a zero value on the house itself and exploits the value of the property, which is a good real estate investment in the long haul.
Because we focus so much on the high cost of down payment and a higher monthly amortization cost, we miss out on the numerous selling points of buying a brand new house for a more comfortable future.
One selling point of a brand new house however is that you have more flexibility in the layout, choice of color, type of flooring and etc. Many home builders allow their buyers to participate in this process. With a used house, however, the process is first to demolish it and build on the old structure which is quite restrictive because the patterns have already been emplaced.
Energy efficient standards are required by building codes of today. Home builders must adhere to these regulatory codes since there is a higher energy risk at present. This means the newly constructed homes has no choice but to adopt to better develop innovations beginning with higher-efficiency insulation, doors, and we are even beginning to see double, triple and quadruple-paned windows which where unthought-of before because energy was cheap and abundant to keep one’s home either warn in winter and cold during summer. We also have newer HVAC designs, all playing together to reduce utility bills down. Today new homes use high efficiency stoves, refrigerators, washing machines, water heaters which were unlike what they have years before.
A new home has fewer and more minor repairs and they have warranties so there is no need to spend on anything until after a year or two.
Buying a new home can also benefit you from the mortgage financing perks that builders give in their efforts to sell as many houses as they can.
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