By Brenda Smith – Just like a new car, there is nothing like that new-house smell. Ah! It feels good! Is a newly built home right for you, or are you more of a hands-on person that would love to have a resale home? Your answers will depend on your lifestyle, financing needs, and other priorities to include the functional arrangements of the interior living space (the layout), or energy efficiency of a home.
Energy efficient homes are more often available in new construction, although, even if an existing home needs work, you may prefer to have a resale house if it is in a desired neighborhood where new construction isn’t available, and you are able to make the home energy efficient on your own.
There are pros and cons of each and I will list them below, however, you want to find out as much about each community and the required association fees, how your lifestyle fits into community events, location from your job, etc.
Pros of New Construction:
- With new construction or pre-construction purchases, the work is done for you. You don’t have to lift a finger, a paint brush, or a hammer.
- New homes come with some of the design elements that today’s lifestyle demands: open, eat-in kitchens, walk-in closets, and large master baths to name a few.
- A big financial benefit of new properties is that you won’t have to do much maintenance. With brand-new appliances, plumbing, heating, and air, you should be repair free for at least a few years.
- Utilizing new construction materials, just-built homes are usually more energy efficient; that means potentially lower utility bills.
- You’re moving into a house that should be totally complete and absolutely perfect. That “new house smell” is definitely a luxury!
Cons of New Construction:
- Brand new homes can cost more – sometimes up to 20% more than a similar existing home.
- Many new construction neighborhoods and developments are built far from necessary destinations like schools and your usual supermarkets and shopping centers.
- Often, new homes have less architectural detail and charm that many older homes.
- New properties may not excite buyers who like to do lots of customizing and upgrading themselves. Those who take pleasure in fixing up a home or tailoring it to their preferences might find that brand new homes aren’t a good fit.
- New homes are built on smaller lots than most older homes. If you’re looking for that big backyard (more lawn to mow), you may not find it in a new build.
Whatever you decide, you should work with a knowledgeable real estate agent, who knows the market of new home construction and resales, and someone who will be sure you buy at the best price for your family needs. A knowledgeable agent is also able to collaborate with the builder to get you all the builder incentives which could include appliance package upgrades, & closing cost assistance! Also, as the Buyer, you do not pay the real estate agent’s commission fee, that fee is paid to the agent by the Seller/Builder for the agent’s industry knowledge and for their assistance in working with the community to execute a successful closing for all parties.
Brenda Smith, Licensed Real Estate Broker
BSmith Homes, Realtor
PO Box 47831
Jacksonville, FL 32247