New construction homes make up a surprisingly small portion of the total real estate market. In fact, recent statistics show that only 510,000 of the 5.25 million homes sold in 2015 were newly built. But even though existing homes make up the lion's share of the market, there are some very good reasons to opt for a new one, instead.
New homes can offer a more move-in ready experience
No matter how perfect an existing home may seem, most buyers still end up making changes to the house before they move in or shortly after doing so. Removing wall paper, changing paint color, and upgrading flooring are just a few of the changes commonly made. With a new home, however, buyers can work with their builder to select and customize finishes and color schemes while the home is still under construction. This ensures the home will really be move-in ready and perfect for them on closing day.
New homes can offer a lower maintenance life style
A well-designed, properly constructed new home is perfect for buyers who want to avoid maintenance issues, repairs, and renovations during the first several years of home ownership. First-time home buyers, retirees, and busy families are just a few of the buyer-types who can benefit from purchasing a home that will allow them to avoid dealing with an aging furnace or a failing roof for many years after the purchase.
New homes can offer safety, quality, and economic benefits
Another important reason to opt for a new home is that unlike existing homes that may have been built decades ago, new homes must abide by current building codes for health and safety. In addition, many new home builders now use greener, more earth-friendly materials during the building process.
The materials used to construct a new home also have typically been manufactured to offer a more energy efficient life style for the buyer. Higher insulation values and more efficient materials and designs mean that the new home owner often enjoys lower ongoing energy bills than buyers who choose a pre-existing home.
Of course, before considering the purchase of any new home, buyers should always verify the qualifications and reputation of the builder. A good way to do this is to speak with homeowners who have purchased and currently live in homes built by any builder you are considering. Your real estate professional can help you contact these homeowners, as well as provide helpful information about new home builders in your area.