Factors to Consider Before Buying New Construction Homes
Let’s face it. Most people like new stuff, and that includes homes. I’m asked a lot about buying a new home versus an existing home.
You really could make the case for should I buy a custom-built home versus a new home versus an existing home. Money obviously plays a huge role.
Because there’s definitely a difference in what all three would give you. But in the end that difference is mostly cosmetic. I say mostly because there are some differences — especially as it relates to materials used now versus decades ago. And certainly a truly custom built home can be designed (at a price) to the exact specifications you desire.
So what are the biggest reasons why people want to buy a new construction home?
1. They think that a new home is better
And if that’s the thought in your mind, then that’s a thought in your mind.
Sometimes that’s difficult to get out of your head. Certainly there are differences in the way homes are built now vs. decades ago.
And while many of the materials used, such as insulation, electrical, plumbing, and even the HVAC systems might be better today vs years ago — the attention and details to the actual construction work may not be better. That will truly be a case by case analysis.
And if you like things like real hardwood floors, good luck and getting those in most new homes. You have to jump over to the truly custom home construction to get those.
And if you’re looking for a more established neighborhood with larger trees, that’s often going to be missing in a new home development. It might take 15 to 20 years to begin to get what feels like a real neighborhood that you may be used to growing up.
2. The modern open floor plan in new construction homes
Let’s blame HGTV for this one. What’s the one thing that virtually all the buyers on these TV shows say they’re looking for? “We want an open floor plan.”
And there’s no question about it that older homes often have boxed off rooms that aren’t appealing to most buyers today. Even the new townhomes — like North Quarter in North Bethesda — have modern, open concept floor plans.
You don’t want to rule out an older home though just for that reason. It’s worth investigating whether or not some walls can come down to open things up and create the look and the feel that you desire.
And certainly this is something that I do with my clients. We will do a comparison through my Homebuyer Matrix to see what works best for them. The new home price point might not be as appealing versus renovating an existing home.
3. New Construction Homes let you move in and do nothing
Hey, I get it. This is the ideal scenario. And if this is what you really want — sometimes a new home is the best option.
Yet, it’s always worth digging a little deeper into what is move-in ready, and how that could still be accomplished with an existing home. We want to consider multiple factors and terms. Let’s see how and when a renovation and update could take place so that it works into the schedule and timing of you moving into the home…with all the work having been completed already.
Even if you have a home to sell first, this can be possible. It’s not as easy. Yet, I’ve done it before with clients, and it’s something to consider. Find any home is a major decision and I encourage you to really evaluate multiple factors that will help you make the best decision.
I believe you would greatly benefit sitting down with me and going through my complete Homebuyer Matrix.
This will narrow down the best path for you to take in buying a home. All you have to do is reach out to me on 240-687-2650.