26. December 2012 16:33
Why buy new, now?
Historically low interest rates expand your purchasing power significantly. For example, a $200,000 30-year mortgage at a 5% interest rate (APR) is $125 less per month than a 6% APR
mortgage payment. Or, you could opt for a larger home or $20,000 in upgrades and still keep the payments lower than the 6% APR mortgage.
Lower total monthly housing costs.
Land costs have eased as have prices for some building materials. Stiffer building and energy codes combined with product advancements mean cheaper utility bills and lower homeowner insurance rates.
The financial implications are often the first aspect looked at, but there are lots of other reasons to look at new construction rather than an existing home, including:
Quality of construction.
More stringent building codes are just one of the reasons today’s homes typically offer superior quality compared to older homes, making your new home more pleasurable to live in.
Some things that just aren’t feasible to change with resale homes, like garage size, basement ceiling heights, wider doors or open, entertaining floorplans.
Product choices, advancements.
When building new, there’s a gamut of products to select from in making your home uniquely yours, based on what’s important to you—such as quieter and safer products, high technology…healthy alternatives...new construction is a hands-down winner!
Avoid maintenance hassles and cost.
New homes are typically lower maintenance due to the products used. Composite decking, tilt-in clad windows and laminate flooring, all give you back a little more time. Then there’s the expensive repairs associated with older homes such as replacing worn-out appliances, roof shingles, carpet and furnaces.
Energy efficiency and environmental responsibility.
Homes built today are as much as 60% more energy efficient than homes built 20 years ago, contributing to a more comfortable home. Your energy efficient new home can help prevent the release of tons (yes, TONS!) of greenhouse gasses per year, while helping conserve our energy resources. Advanced building products such as engineered wood and recycled product choices such as carpet made from discarded plastic water bottles further help protect our environment.
Don’t settle for less.
Finally, one of the most important reasons for buying new is getting exactly what you want in your new home.