Why Buy a Newly Constructed House? The choices that mortgage house hunters are faced with is either buying a previously owned home or a foreclosed one, or buying a brand new home which is much more expensive when it comes to dealing with it per square foot. There are good selling points to these two choices but there are more advantages of buying a brand new one if you want to have a place where you can comfortably settle down for good. In the case of a pre-owned home, we can find two selling points. Pre owned homes are cheaper and so you have a lower monthly amortization. There are, however, other expenditures that you have to think about in a pre-owned home like repairs or replacements in the future. The other selling point however, is when one puts a zero value on the house itself and exploits the value of the property, which is a good real estate investment in the long haul. If you really want to settle down comfortably, then choosing a newly constructed home has a lot of selling points that we often overlook because we are only thinking about how expensive the down payment is and the high amortization cost.
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One of the selling points of a brand new home is the flexibility you have in choosing the layout, the color, the type of flooring, and other things when it comes to design. Participation of buyers in the process of designing the new house is oftentimes allowed by the home builders. With a used house, however, the process is first to demolish it and build on the old structure which is quite restrictive because the patterns have already been emplaced.
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Also building codes dated back where not as conscious as today in mandating energy efficient standards. A regulatory code which must be adhered to because of today’s higher energy risk. So now newly constructed homes have to use energy efficient insulations, doors and windows like the ones with double, triple or quadruple panes which were unheard of before since energy was cheap and abundant and could provide homes with warmth during winters and cool air during summer. The HVAC designs of today are also made to help reduce utility bills. Today new homes use high efficiency stoves, refrigerators, washing machines, water heaters which were unlike what they have years before. When the house is new, expect to have fewer and minor repairs since everything is practically new and even have warranties so no need to shell out anything until the next year or two. Another thing that I want to mention, is that new home buyers may be able to take advantage of mortgage financing perks that builders give in their effort to sell as many units as they can.