About 40% of the population would rather have a newly built home than an existing one, and for good reason. New homes have some definite advantages over existing homes, although they do have a few drawbacks. Here is a look at some of those advantages and disadvantages.
One of the big advantages of buying new homes is that you get modern home plans and you are able to have a say in some level of customization. For example, new homes tend to have master bedrooms with their own bathrooms, split floor plans, modern kitchen and bath amenities and a number of modern home design elements that you may not find in an existing home that is more than 10 or 20 years old.
Another big advantage of getting a new home is that it will be much more energy efficient than an older home. When home builders build homes these days, they usually include things such as Energy Star appliances, something that about 90% of all new home buyers include as a desirable design element. The homes also have other energy-efficient features, such as double-paned windows, blown-in insulation, energy-efficient lighting and a number of other features. This can help you save money on your energy bills, which will offset some of the cost of the new home.
When you buy an older home, you have it inspected, but you still don’t know when something major might break down and cost you a lot of money. With a new home, you have a couple of advantages in that area. For one thing, everything from the roof to the appliances is new, meaning it is likely to be years before you have any kind of critical system or structural failure that will cost you big bucks. Also, new homes usually come with both structural and mechanical warranties, meaning that if something unexpectedly does go wrong, you will not have to pay big bucks for it.
New homes are not perfect. They usually cost more than similar-sized existing homes, and they can lack trees and be far from amenities like parks and schools. You also may have to put up with construction of other new homes around you for the foreseeable future. Still, for many people, buying a new home rather than an existing one can be the right choice.
