Everyone wants to find their perfect home to live in. In that search, buyers often put on a scale the pros and cons of different types of homes to decide whether that type will fit their lifestyle. A particular type that is quite popular nowadays is the construction of new houses. The idea of a brand new space is alluring, but there are some disadvantages too, so buyers would ditch the idea of having a new home constructed and opt to find a home to buy. Let’s see the pros and cons of buying a new construction home and whether it pays off.
What Are Construction Homes?
Construction homes, also known as newly built homes, are properties for residents that have recently been constructed or are still being completed. These homes are built from scratch by developers or construction companies, and it will be the first time anyone has lived in them. Their most significant appeal is their modern design, features, and the fact that they can be customized according to the buyer’s preferences. They can be very different and vary in size, style, and amenities.
Pros of New Construction Homes
Brand New Appeal
We have to begin with the most important advantage of new construction homes: their brand-new appeal. Its pristine condition attracts buyers, and the fact that they would be the first residents there makes these new construction homes even more appealing. Jen Horner, an experienced real estate agent, says, “Everything in the home will be in perfectly pristine condition — and it’s unlikely you’ll have to make costly repairs anytime soon.” The most significant benefit that can be concluded is that the aesthetic of the new home not only will appeal to buyers but also offer them peace of mind, without the worries about immediate maintenance needs.
Customizable
The next advantage of the new construction homes is the possibility of customizing them and tailoring the space precisely to the buyers’ preferences. Jessica Poulos, co-owner and broker at Better Homes and Gardens, says, “With a new construction home, you can customize the layout, design, and features to your liking.” The customization applies to everything, from paint colors to choosing flooring materials. Every buyer would love the freedom of choice because it fosters a sense of ownership and individuality and brings a plethora of benefits to owning an investment property.
Energy-efficient
An essential pro of the new construction homes is that they are built to be energy efficient. Building houses with the latest energy-efficient materials and appliances will significantly decrease the energy bills in the long run. So, apart from being tailored to the buyers’ preferences, they are also becoming sustainable living places that younger generations primarily seek.
Cons of New Construction Homes
Extended timeline
Building a new construction home can take a lot of time. Huck Meier, senior vice president at Sunrise Banks, says, “If you have a short window to move into a new home, buying new construction or a house that’s still being built might not be for you.” The timeline could be extended over several months, which might be quite a burden for the buyer testing their patience and readiness to buy a new house and move in. It takes time to do the initial designs and then to plan and execute the whole construction process. During that extended timeline, different types of contractors need to work and align to finish the new home and use different types of technology to streamline the building process, which can sometimes be quite challenging.
Higher Costs
Building a new construction home can also cost a lot. Jen Horner sheds light on this aspect, explaining, “The high market value of new construction homes may result in higher property taxes as well.” Also, the customization options increase the price even more. This means that the buyer would need to stretch the budget beyond initial expectations and may even need more funds to complete it, which often results in an extended building timeline.
Decision Fatigue
When the home is to be completely customized according to the buyers’ preferences, many choices they need to make, including fixtures to finishes, can make the decisions a bit hard. Horner cautions, “Allowing yourself to get paralyzed by the options can slow down the process.” so decision fatigue can be a real problem for the buyers who want to make the new construction home as customized as it can be but completed in the planned timeline.
Conclusion
Considering all the pros and cons, the appeal of a new construction home remains vital for many buyers. The opportunity to customize it, have an energy-efficient home, and build it into visual perfection attracts buyers to the new construction homes. However, all of these pros can work out if the buyers ensure that their decision aligns with their budget and long-term goals and that they are ready to accept that there will be challenges and tackle them along the way.
