Pros & Cons of Building a Home
If you are not following me on IG (@mylifedailyblog) - you definitely should be - Logan and I announced that we are building a home! We are first time home owners so this is SO exciting. It truly is the small things we are most excited for like a linen closet, space for night stands and a full size garage! Of course when it comes to new construction, there are pros and cons. That's what I wanted to chat about today!
Brand new. You don't have to worry about replacing/repairing a roof, AC unit or any of the appliances for a long while because everything is new. Also, who doesn't love living in a clean, never before lived in, home?
Warranties. New construction comes with a TON of warranties incase there is an issue in the first years with one of your new appliances/items.
Design. A majority of the time - you get to help design! They also often contain more modern styles which means a better aesthetic. You are the first owner of your home and get to participate in creating it.
Homes are built to meet current building codes. New construction is more energy efficient and has updated features, including stronger building materials.
You have to wait! With a new build, you have to wait for the home to be built. It's also common for building times to be pushed back due to storms, material shortage or problems with the construction crew.
Poor construction. Typically new homes are built quickly. With this, there can be error or careless construction workers on the job. It's important to really inspect the home before closing - this will save your back in the long haul. Be wary when choosing a builder. Not all builders are equal, do your research.
Limited options. Although you do get to help customize when building new construction, you usually only have so many options to pick from. While it's not the worst thing in the world, you are limited.
Less room to negotiate. Negotiating is part of the process when it comes to pre-owned homes. New construction pricing is pretty set in stone. You may be able to negotiate a little with closing costs but as for the home - the price is usually non-negotiable.
Are you thinking of buying a home? Contemplating whether to build or buy a pre-owned home? Definitely take into consideration the pros and cons listed above! In Logan and I's situation, we decided that new construction was the way to go. However, please put into consideration the area you are buying/building in, the economy, comps in the neighborhood, the builder and the cost/condition of the other pre-owned homes you are interested in.
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