Tuesday, February 18, 2014

Why You Might THINK TWICE about Choosing a New Construction Home

Five reasons you may hesitate to buy a new build home

Like most of the real estate industry, there’s been major growth in new home construction. Here are five reasons to think twice before choosing to build a brand new home.

  • Logistics
    • Can you get the move coordinated? If you already have another home, do you have a place to go if yours sells before the new home is complete? Do you qualify for the new home without selling your current home?
  • Limited negotiating room on price
    • The advertised price is based on certain features - usually the entry level pricing but what you see in the model is usually all the upgrades.  Many buyers that choose new construction experience a bit of heartbreak when they have to settle for less than what they saw in the model or realize there are features they want but can't afford.  
  • Headaches
    • Are you ready for all the builder meetings and decisions that come with planning and building a new home? These meetings often require weekday appointments. What if there are unforeseen changes or delays?
  • Cookie-cutter design. 
    • Frequently less character, or homogenous design. Often you will pick a from the same selection of model designs that your neighbor chose from but in slightly different color combinations.
  • Potential for homeowners association dues. 
    • Frequently, new neighborhoods have a homeowners association or covenants that can put limits on how you use your property and may include dues.

What some great reasons to buy new?  Watch for an article in the next week! Five Reasons you SHOULD build a new home!

More Tips for buying NEW construction homes.

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