Things to Consider When Buying a New Home

Posted by Gurpreet Ghatehora on Wednesday, June 11th, 2014 at 9:11am.

Buying a new home is becoming much more popular as people’s ideas of ‘necessity’ continue to change. New homes offer buyers a ton of choice in terms of finishing touches, whereas resale older homes often need to be improved upon, or have been altered to suit the specific preferences of the previous owner. A new home is a blank slate, and more and more people are desiring to get everything they want right away, without having to go through the whole “starter-home” process.
The pros
A new home often means a builders warranty and lots of customization. From paint colors to countertop materials, it’s your choice when you buy direct from the builder. If you are buying in a new development, this also means you get to move into a brand-spanking-new neighbourhood. Newly paved roads, new fencing, fresh landscaping and possibly even new schools. There is a lot of appeal to this scenario, and these types of developments tend to attract a certain type of buyer, one who takes pride in their home, thus you end up with a community that always looks its best.
The cons
Buying a new home means construction, and lots of it. You may purchase one of the first homes built, or one of the last, but either way you will be dealing with construction. Even after the final home is completed, you will likely be subjected to an additional year or two of landscaping (laying sod and planting trees), and finishing touches that may include fencing and decking (either by the builder or individual home owners). If you purchase one of the first homes built, you could be signing up for three or more years of constant construction – depending on the size of the development.
While buying a new home is a great option, and one that many strive for, there are both positives and negatives to the idea. Be sure you weigh your decision carefully before committing to a new development.

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