The Ups and Downs of Buying a Newly Constructed Home

There are so many home options available to everyone looking to buy.  One of those options is building a home.  If this is something you are looking into, we have a few upsides and downsides of purchasing a new construction.

The Upsides

One of the big benefits of a newly constructed home is it will be up to code. Another advantage, the home will require less maintenance in the immediate future.  This option, also, would require very little, if any, repairs or renovations.  In some cases, you may even be able to customize the home to your needs.  Plus, the newer homes have a modern floor plan.

If your property is part of a development, you may have the benefits of community access to pools, gyms or other amenities.  Also, if the home is one of the first in the development, the price will hold its value better or may go up as the development is completed.

The Downsides

While there are a lot of benefits to buying a newly constructed home, there are also some downsides.  For example, the cost of the new home may be higher than a pre-existing home.  The median price for a new single family home is around $436,000 according to the US Census Bureau. Taxes may also be higher for the new construction. Unlike a pre-existing home, this will not be immediately available.  It will take some time to build the home.  While it will take time to build the home, it will also take time for the landscaping to be completed, especially if this is in a new development.

Clock below for a few more details regarding buying a newly constructed home.

Read the Original Article Here: Buying a New-Construction Home: Pros and Cons All Homebuyers Should Know