Home Maintenance Cost

Home maintenance cost may be the reason why home buyers are hesitant to buy a home.  The following is some information that may help you move forward purchasing either a new or existing home.  Newly built homes likely will reduce your worries about maintenance cost.  Everything in a new home is brand new and has not experienced the wear and tear that you would experience in an existing home, which means less repairs.  Buyers will have new systems, appliances, roofs, foundation, etc. which will be very helpful to them when adjusting to home ownership.  In addition, most new home builders offer full coverage the first year, as well as limited coverage for up to 10 years.  When it comes to existing homes, these homes offer great perks.  Many times, the seller will offer a home warranty and sometimes the real estate agent can negotiate repair concessions when finalizing the contract. When a home warranty becomes available in the transaction, it can benefit both parties.  For the buyer it gives him peace of mind that systems and appliances repair cost will be less in case repair maintenance is needed.  In addition, the seller has peace of mind after he provided the buyer insurance to cover systems and appliances for 1-year.  This will reduce expenses on these appliances for the buyer.  After evaluating the pros and cons of whether to buy a new home or an existing home, the buyer will probably realize there is less maintenance cost with a new home but there may be greater character and charm with an existing home. With an existing home there may be more developed landscaping and a greater sense of community.  As with a new home the buyer may have to wait for construction to be completed before it feels like a completed community.