Trying to decide whether to buy a new home or a resale? In addition to obvious benefits, such as being able to choose from a selection of available homes in your chosen neighborhood, purchasing a new home can also be a sound financial move.
Following are four reasons why it might pay to choose a brand-new build over a resale home:
- Less maintenance. New homes mean brand-new appliances and systems—all of which typically include warranties. When you buy new you can take comfort in knowing you won’t have to sink a ton of money into replacing your home’s air conditioner or water heater or retrofitting its wiring to accommodate your modern needs.
- More energy efficient. Those new appliances and systems we mentioned above are often more energy efficient than their counterparts in resale homes. Plus, new homes generally include enhanced window design and more effective insulation, which can translate to lower energy bills.
- No costly remodel. New homes are not only aesthetically pleasing; they’re designed specifically for today’s lifestyle. Common modern features include open layouts, abundant storage and 3-car garages. With new construction, you won’t have to spend time and money bringing a home from the past into the present (e.g., knocking down walls, expanding closets). And you won’t have to pay to address potential safety concerns of older homes, such as lead paint and asbestos.
- Lower insurance premium. With an older resale you may run the risk of a higher homeowners insurance premium. Factors like a history of claims and outdated heating, plumbing and electrical systems can all increase your payments (learn more here).
Ready to start your new home search? Visit RichmondAmerican.com now to find floor plans and communities in your area!
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