Who doesn’t like something new?
New things look good and come with fewer worries. You don’t have to worry about the treatment they got from previous owners, because you’re the first. This goes for new homes, too. Buying a newer home, there’s not as much to assess, it seems. That’s the main advantage. You don’t have to replace a leaky roof or outdated wiring or plumbing. You don’t have to worry about the septic system. You don’t have to worry about any structural issues.
Another big advantage is operating costs. Because they’re new, young homes have state-of-the-art energy efficiency. They’re highly insulated, they have Energy Star appliances, and they have efficient heating and cooling systems. And, the energy efficiency standards in newer homes may even earn you a tax credit. Also, most brand-new homes come with warranties for their roofs, appliances and windows, which means if anything breaks in the first few years, you don’t have to pay for it.
If you’re buying a home in its preconstruction phase, you may be able to customize it, in terms of what color you’d like it or its rooms to be, flooring, cabinets, and what sort of appliances you’d like. There’s the possibility of getting the builder to lower his asking price in this phase and have him/her throw in extra amenities. He/she may even give you financing options.
What about safety? You don’t have to worry as much about a newly built home meeting safety inspection codes. You should still get it inspected, obviously. But the builder is required to get the house up to code before it’s even built. Especially in areas like the West Coast, where earthquakes could be a factor.
According to NPR, in February 2012 homebuilders are the most optimistic they’ve been since May 2007 about building and selling new houses, which have to compete with the huge number of foreclosures for sale. This is great news for those of us looking to purchase brand-new property. The optimism will translate to well-built residences and hopefully a few cool amenities thrown in, like a swimming pool for the kids. This newer home built in 2001 in Fullerton, CA, as part of a gated community, has all of the above.