Purchasing a home is most likely going to be the largest purchase in your life, and with that said it’s no wonder that people don’t like to rush into a deal. Perhaps you’ve been looking into purchasing new construction, as you like the idea of being the first to live in the home and being able to make it what you want. Of course a brand new home is exciting, fresh, and new but there can be some cons as well. Let’s take a look at the pros and cons of choosing a new construction home so that you can be sure you’re confident in your decision.
New Construction is Booming
In many areas across the country finding new construction is relatively easy thanks to the demand. New construction in Raleigh, NC is no exception and it seems as though potential homeowners are more excited than ever to get into a new build. In fact, Raleigh is known for being included in “Top 10 lists” created by MSNBS, Forbes, and Money Magazine thanks to its opportunities for business to thrive, and its high quality of life. This makes for a great area to examine the pros and cons of new construction.
Keep in mind the words “new construction” apply to a variety of offerings. It can mean that traditional single detached home, it can be a semi-detached home, a condo, or a townhouse. All new construction means is that it has just been built or will be built.
Pros of New Construction
The list of pros is certainly vast for buying new construction. Here’s a look at some of the top considerations.
- The buyer can choose their finishes. Usually the builder will have a small to medium sized list of standard options to choose from, and from there you’ll find there are basically endless upgrades available when it comes to fixtures, flooring, windows, hardware, and more. This is an opportunity to customize your house right from the start.
- Everything is fresh and new and has its full warranty. Your roof is new, your furnace, your water heater, you are starting out fresh with everything.
- Some builders will include appliances in the deal so you don’t have to bring your own and worry about installing them.
- If you get into a development early on you’ll get plenty of choice when it comes to lot location.
- Sometimes the builder will allow for changes to the floorplan so you can make the house work for your needs.
Cons of New Construction
Just as there are pros, there are also cons to buying new construction. Let’s take a closer look.
- If you’ve walked through the model home and been blown away, be prepared to also be blown away by the costs of all the upgrades to get your model looking the same.
- New construction lots don’t always include fencing, a paved driveway, or even sod. Be sure to get the details on what the builder includes.
- You will be living in a construction zone for weeks, months, even years depending on how big the development is.
- Often the price the builder charges to make cosmetic changes is inflated and you could do them much cheaper on your own.
- It’s hard to tell what a neighborhood will turn out to be like in the end.