New home planned communities or developments are sprouting up all over the U.S. Statistics show that up to 1.6 million new homes are being constructed each year. If you’re a homebuyer searching for a new home, there’s nothing like the anticipation of moving into a brand new home tailored just for you. In spite of the positive features offered by a new home, there are negative features you should be aware of. First let’s go over the positive features:
1) It’s Untouched! – A new home has never been lived in by anyone else and it’s spotless clean just for you.
2) The House Was Designed Just For You – With a new home you get the opportunity to customize certain features of the home including the paint color, type of flooring, and grade of fixtures. You also get the option to select the floor plan suited to your particular needs.
3) Modern Conveniences – You’ll find new homes offering features designed just for today’s lifestyle. Convenient features like an attached 3 car garage, open floor plan, and high speed phone and cable lines. New homes also come with built-in energy saving appliances that won’t need replacing for at least a few years.
4) Better For The Environment – By using energy efficient materials to build a new home, you’ll save on heating and cooling costs thereby using less of our natural resources.
5) You Get A Community Atmosphere – New homes are usually located in planned developments featuring community swimming pools and clubhouses. All homebuyers are expected to abide by the homeowner rules and regulations.
Now lets study the negative features:
6) More Expensive – As you price the new home market, you’ll find they cost more than older homes. However when it comes to selling your new home, the resale value will be higher. Another benefit to buying a new home is you can find some good financing deals offered by the builder.
7) Limited Representation – Unless the builder cooperates with outside agents, you’ll have to deal only with the builder’s sales agent. This limits the amount of protection you’ll receive because you won’t have another agent looking out for your best interests.
Break In Period – As the first owner, you get to be the first one to test out the features of your home. It’s not uncommon to discover flaws or defects in materials or workmanship when you first live in the property.
9) Delays – Developers try to complete a home by the estimated deadline, but there will be times when delays move the finish date farther out. Unfortunately developers rarely compensate you for your inconvenience.
10) Homeowner Rules – Most new home planned communities require you to abide by their list of regulations governing use of your home. There isn’t much you can do to get around these rules unless you plan on moving out.
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