Buying a home is one of the biggest and most exciting purchases you will ever make. However, if you have tried to browse homes recently, you might have noticed that the availability on the market is low — historically low, in fact. Pending home sales are down more than 10% because there is simply not enough inventory on the market.
The current situation is great if you’re selling a home, but not so great for buyers. In fact, a recent report revealed that 39% of homes sold above their listing price in the four weeks up to March 21st.
Consider these benefits of building a new home versus buying a resale.
When you build in a neighborhood where everyone is new, it’s easier to make new friends. You can all connect over the shared excitement of building a new home and moving to a brand new area. Moreover, if you have young kids, they’ll benefit from the experience – especially with the resurgence of neighborhood-based friendships.
When you buy a resale home, you get it as-is. Changing anything about it means hiring a contractor or undertaking a significant DIY project. It adds to the cost of your home and requires a lot of time, skill and patience. When buying new, you can create the home of your dreams from the get-go. In addition, you can pick all the interior design features like countertops, cabinets light fixtures and flooring, and not have to live with the preferences of previous rounds of owners.
Architectural trends are always changing, and what worked a few decades ago doesn’t always work today (think carpeted bathrooms and popcorn ceilings). Building a new home versus buying a resale means you can implement the latest design trends without significant renovations. Take advantage of large open spaces, bigger bedrooms and bathrooms, convenient work-from-home offices, and plenty of closet space.
Newer homes come with plenty of upgraded features that improve energy efficiency. This includes low-E (low-emissivity) windows, high-efficiency HVAC and plumbing systems, and better-quality insulation. You’ll save money every month with lower energy bills, and know you’re helping future generations.
A new home comes with tech-ready features and upgrades that are conducive to modern life. Ideas that builders couldn’t even imagine 50, 20 or even 10 years ago are possible now – high-speed broadband internet, extra cable outlets, whole-home speaker systems, advanced app-controlled lighting and security systems, and more. Avoid having to retrofit things, and build fresh from the ground up.
New homes are built with new materials, and many of these are designed to be low maintenance. Materials like vinyl siding and windows and composite decks won’t rot or ask for much upkeep. You’ll feel better knowing that you won’t be surprised with costly repairs soon after buying.
You can sometimes get a warranty for a resale home, but it’s an added cost and may come with a lot of exceptions and exclusions. However, Koch homes come with a comprehensive warranty. Added security almost always pays off in the long run!
Discover Koch Homes’ beautiful floor plans and communities and start building the new home you’ve always wanted! Get in touch today to find out why homeowners have trusted us to build their dreams for more than 70 years now.