Thinking about buying a brand new home? There are a lot of great reasons to invest in new construction, but there are many factors that go into every home purchase decision. Consider the advantages and disadvantages, listed below, of buying a new versus existing home, then contact Martha Hendrick for more advice on current market trends, financing options and help finding the right Bend area home for your needs.
The "Pros" of Buying a New Home
Modern amenities/convenience—New homes are built to accommodate new technology, with wiring for high-speed Internet access, plenty of electrical outlets and more. Many of Bend’s resort communities are ready for “smart home” technologies. Most new homes also feature built-in appliances, central heating and air conditioning as well as custom options such as whirlpool tubs and walk-in closets.
Warranties/less maintenance—Builders will warranty against construction defects, and appliances generally carry a manufacturer’s warranty. Building materials take advantage of new advances that make them more durable, requiring less upkeep.
Energy efficiency—New homes are better insulated and built with more efficient heating, cooling and plumbing systems, meaning you’ll save each month on utility bills. Some communities are also “going green” by building homes with environmentally friendly materials.
Health and safety—Hazardous materials such as asbestos and lead-based paint won’t be found in new homes, and electrical wiring systems are built for heavy loads, so there is less risk of fire.
Floorplans that fit today’s lifestyles—Oversized family rooms, modern kitchens, media rooms and large closets are just some of the popular floor plan features found in today’s new homes.
You make it your own—Even though some communities require residents to follow certain guidelines, buying a new home gives you the opportunity to pick the paint color, kitchen countertop finish, carpeting, etc., and personalize it to your style.
The "Cons" of Buying a New Home
Price—New homes cost more than existing homes. The price difference, though, might be worth it for the maintenance and energy cost savings you’ll get. In hot markets, new homes may be overpriced—I can help you decide whether a home is really worth its asking price.
Delays—New homes are often not finished on schedule, which can delay your move-in.
What you see may not be what you get—A model home will likely include many features that are upgrades, such as certain finishes or landscaping. Make sure you know you exactly what you’re getting for your money. I work with builders regularly, and can help you sort through the options.