Pros:
- Everything is NEW! You will be the first one cooking on your new oven, the first to make your marks on the newly painted walls, and the first one to make this house a home.
- Builders can offer more incentives to entice you. Most will offer to pay closing costs, others will throw in upgrades, and then some will even make BIG price reductions if a home is sold in a certain time frame.
- Newer homes tend to be more energy efficient than there older rivals.
- Maintenance and upkeep should be a minimum. The first year of mishaps is usually covered!
- Some homes are being green built (ie. more environmentally friendly with reduced energy costs, better building material, etc.)
Cons:
- You must do A LOT of research on your builder.
- With the slowing market, how will it affect the builder's initial plans? Will they still build the ammenities as promised? Will they go bankrupt? Will they finish the subdivision? Will they sell off land for some other use?
- You will have to deal with all the settling that can occur. I know builder's offer a 10 year warranty on the structure. But what happens if on the 11th year, when your home's left side is now higher than the right?
- You still may have problems that are generally covered your first year. Sometimes, trying to get the people in can be frustrating.
- If the builder is offering you CRAZY incentives, what happens when they do the same thing after you buy your home? How will it affect your home's future value?
It looks as if the number of pros and cons of buying a new home are tied (at least from what I came up with). Everyone gives different values to each of these pros and cons, thus swaying them one way or the other. So before you jump on that new home deal, keep in mind it may not be the deal of the century. Dig deeper than the price, look at the future and all it's possibilities!
|
Comments(8)