Pros and Cons of Buying a New Built Home
It is exciting to have a new built home. But if you let the excitement take over your decision making, you might end up buying a home that is not right for you. So before you decide to buy a new built home, take time to look at its pros and cons:
Fresh. This is undeniable. New built home is simply new. The tiles are clean; the bathroom is untainted; the walls are smooth; and you have the feeling of possession since you are the first occupant of the house. What do all these mean? You can decide everything that suites you: the right furniture, the color of the carpet, the curtains, etc. Take note however that you will have to settle for magnolia walls for the next 1 or 2 years of your stay.
Easy move. Since you have opted a new built home, there is no other consideration that will hinder you from moving in at any time. There are no extra deals and waiting period. All you have to do is move.
Good bonuses. New built home sellers often know how to market their product. They often include some bonuses that are certainly great offers. Incentives include: cash back, stamp duty coverage, landscaping, and flooring. Some sellers offer a new car for the homebuyer.
Energy efficient. Many new built homes are designed to pass the energy rating certificate. One significant feature that is present to new built homes is insulation, making it less energy consuming compared older homes.
Specs. This is the most significant disadvantage for a homebuyer deciding to bay a new built home. Admit it, you have an idea of what your home should look like: the size of your room and bathroom, the types of fixtures, the color of the walls, the type of construction, etc. When you buy a new built home, you are stuck with the existing construction and would have to accept it as a fact of life. This is very unfortunate if you are dreaming of a perfectly-constructed home.
Hidden cost. Buyers often assume that a new built home is cheaper than a second-hand home. Be aware that when you buy a new built home, you are just buying for the home- no more no less. Remember that you still need to spend for landscaping, flooring, lighting, fixtures, and other home necessities that are not included with your new built home. If all of these add up, you will realize the real cost of owning a new home. Whereas with a second-hand home, there are existing fixtures which are included with the price of the home.
Snagging. So you have a new home. Everything is new right? Think again. Most new home is likely to be riddled with defects. Take note that these problems will only show up after you have move in and have signed in the contract. This adds to the frustration and discontent, not to mention the price you have to pay for the cost of repairs.
The argument whether it is advantageous to buy a new home or not is still debatable. But ultimately, you are the only one who knows if you can forego some disadvantages for the convenience of having a new home.