The purpose of this home buying tip is to explain some of the advantages new homes have over existing homes.
Before you begin your home buying process, it helps to identify the type of home you want. In fact, it's a necessary step if you want things to go smooth later on.
Why is this important? By having a clear picture of your ideal home, you'll be able to narrow down your search, which will save you time and energy.
One of the first questions that will come up is new home or resale home? Both have their pros and cons, but new homes have the following distinct advantages.
Advantages of a New Home
1. It's New!
A major advantage of buying a new home is that everything is ... well, new. In other words, the kinds of things that can cost a lot to repair -- like the roof, the major appliances, the heating and cooling -- shouldn't need any repairs for a long while. If they do need repairs, see the next item.
2. Warranties
Most new homes come with substantial warranties on critical areas like the roof, the foundation, etc. If you buy a resale home, you'll most likely have to purchase a warranty yourself (if you want one).
3. Design Input
If you have a home built to your specification, you'll be able to make a lot of choices. Depending on the builder, you'll have some say in the floor plan, the features, the design elements and more. You can truly put your personal touch on the home.
4. Negotiable Features
This benefit will largely depend on the kind of real estate market you're in. But in many cases, you'll be able to negotiate the price, the options and the closing costs. When you buy from a builder, you'll probably deal with a sales associate who represents the building company. The salesperson wants commissions, and the only way they get commissions is by selling homes. Typically, you'll find that a salesperson will "bend" as much as possible (within the limitations imposed on them) in order to make a sale.
Some builders will offer incentive packages as part of negotiations. For example, maybe they won't lower the price, but they'll be willing to upgrade the kitchen features or the flooring.
5. Thorough Inspection
Usually, a neutral third-party will inspect a new home before the buyers close on it. This could include a member of the city / county zoning and construction board, or a licensed inspector hired by you.
The builder will also walk through it with you, at various stages of construction. The point is, there are usually more people reviewing and inspecting a new home than a resale home.
* Copyright 2006, Brandon Cornett. You may republish this article online provided you keep the byline, author's note, and active hyperlinks.
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