Summer remains one of the busiest times for home purchases and it can be a daunting task. A few weeks ago, we shared some of our top home buying tips and we thought it would be good to revisit the topic. As you’re considering a home purchase, it’s importance to be well informed. We believe that there are a number of significant advantages to buying a newly built home compared to a resale home. As home supply continues to rebound and interest rates remain at historic lows, now is a great time to buy a new home. Here are five reasons we’d suggest looking at new construction:
- Cost Savings and Green Features: A home is often the largest and most expensive purchase you’ll make so you want to ensure that it’s a wise investment over the long term. The cost savings that come from purchasing a new home are well-documented. For example, energy efficient building standards and appliances can help save on those monthly heating and AC bills. Modern construction techniques can extend the life of a home and reduce maintenance costs for home upkeep too. Studies from the National Association of Home Builders have found that homes built before 1960 have average maintenance costs of $564 a year, while a home built after 2008 averages $241. Similarly, operating costs average nearly 5% of the home’s value for pre-1960 structures, while they average less than 3% with new homes. Those savings definitely add up over time!
- Personalize Your Home: One of the great aspects of owning a new home is just that – it’s new! Building or purchasing a new home means that you can make selections that will turn it into something that is your very own. New homes in our communities offer a variety of customization options, from the type of materials used and layout of the home to special features. New home design continues to evolve so there are always many fresh and exciting home styles and features from which to choose! In our master-planned communities, the variety of home styles, sizes, and designs makes it even easier to find the home that fits your needs at the price that’s right for you.
- Lower Maintenance: An extension of cost savings, new homes are also less expensive to maintain than existing homes. It makes sense because so many existing homes have more extensive wear and tear, especially depending on their age and treatment by previous homeowners. Eye on Housing blog also has some great stats that underscore the low maintenance benefit of newly built homes. For example, according to the blog, for routine maintenance expenses, 26% of all homeowners spent $100 or more a month on various upkeep costs. However, only 11% of owners of newly constructed homes spent this amount. In fact, 73% of new homeowners spent less than $25 a month on routine maintenance costs.
- Warranty Protection: In addition to the cost savings, customization options, and lower maintenance, new homes also come with warranties that offer additional protection for your investment. New Home Source notes that a used home likely has tired products that may soon need replacing. However, your newly-built home will feature new and state of the art products. These products should last you longer and will be covered by warranties. Costs related to existing homes can add up quickly. A new roof, water heater, HVAC system, or appliances could get very costly. With a new home, you can avoid those worrisome and costly replacements.
- Sense of Community and Incredible Amenities: When searching for a home, the axiom about “location, location, location” still rings true. It’s not just about the house itself, but the community within which it is located. Most new homes are built in specially-planned communities. Living in an HHHunt master-planned community means that you can also access any community amenities, such as clubhouses, pools, walking trails, neighborhood events, and more. These amenities and events create a true sense of neighborhood spirit among our homeowners. We often hear such wonderful stories of neighbors in our communities becoming life-long friends!
If you’re considering the purchase of a home, we invite you to discover the HHHunt Communities difference. New homes in our communities boast green and energy efficient features. Our communities also include a variety of incredible amenities and great locations near top-rated schools, shopping, dining, and employment centers. At HHHunt Communities, we believe it’s how you live that matters and we are honored to build distinctive places where cherished, lifelong memories are made. Find an HHHunt community close to you and experience what makes our communities so special: http://www.hhhuntcommunities.com/find-your-community.php.