In housing markets throughout the country, new home builders are creating inventory for those who are in the market for a new home. New construction homes can cost as much as 20 percent more than pre-owned homes and can take up to 6 months to build. However, the benefits of a newly constructed home often override the extra time and cost. For those who are deciding between pre-owned homes and new construction, here are three reasons why new construction may be the right choice.
The ability to customize the home is one of the major perks of new construction. Homeowners can either keep the original builder specs or, in some cases, can create an entirely custom space. Changes to the floor plan are easier to do with a home that's in the process of being constructed. Homeowners are also able to choose the materials that they prefer for their flooring, countertops, and other features in the home. Homeowners are also able to upgrade finishes and create the look they want for their home.
Another reason to consider new construction is that a newly built home is more likely to be energy-efficient. New home builders often use spray foam insulation, energy efficient appliances, and install energy efficient HVAC systems. Newly built homes are on average 15 percent more efficient than homes built in 2009. This increase in energy-efficiency can pay off in the long run. Increased energy-efficiency can save homeowners hundreds, if not thousands, of dollars in energy costs over the course of a year. Pre-built homes are often far less energy-efficient and may require costly upgrades.
One of the downsides to older homes is that they require more maintenance than newer builds. Purchasing an older home will often mean needing to replace an appliance or two within a few years. Other things that may be needed after purchasing an older home include a new roof, a new HVAC system, and other major repairs or replacements. Overall, it's recommended that homeowners save 1 percent of the home's purchase price per year for maintenance. Purchasing new construction will likely mean that the money saved will likely not be needed for years.
Purchasing a home is a major decision. Many homeowners find themselves between purchasing a newly built home or a pre-owned home. New construction offers a lot of advantages. These homes are easily customized, have greater energy-efficiency, and require less maintenance. New construction is a great choice for homeowners who have specific ideas about what they want in their home.