What is “new home construction”?
New home construction simply refers to a new building that is completely built and has never had occupants.
Choosing between a newly constructed and pre-owned homes can be an overwhelming decision when you’re shopping for a home. New construction homes have advantages over the pluses of their older, more established homes.
When buying a newly built home, you are looking forward to several benefits such as:
1.Modern floor plans.
Newly constructed homes are designed and built for today’s lifestyle. They are designed for the modern day, and features they come with include eat-in kitchens, large master baths, walk-in closets, more access to outdoor entertaining areas which everyone wants in this modern day life. Older buildings built between the 1920s and 1990s often lack all these features, and these make newly completed buildings a preferable choice.
2. New homes are energy efficient and smarter too.
The use of new construction materials for newly built homes are usually more energy efficient – which means potentially lower utility bills. New homes today are incorporating renewable sources of energy like solar. Newly built homes often come equipped with the latest technology. You save lots of time and money from newly built homes since they come with the latest technologies pre-built. You save a lot of time by not going through the process of getting things fixed. In a newly completed home, all equipment and appliances are in good condition. Everything from alarm systems, speaker systems, cable, high-speed wired internet, detectors etc, are all available in a newly constructed home which may not be found in old homes.
3. Little Maintenance
Buying a new home will save you all the stress, and you don’t have to lift a hammer. With new and modern appliances, heating, plumbing, air etc should live beyond repair for a few years. With only having a few maintenance fixes, you won’t spend too much money on repairs.
Here’s Why Why you need a real estate agent…
Even if you see no reason for using a real estate agent now, the process and hurdles you will face during the real estate process with prove otherwise. A real estate agent’s job is to do the negotiation for you, and also able to know the future value of the newly constructed home. You need someone (an agent) who will work directly with people and who also represents you and looks after your best interests.
1. Provide Representation
Some may believe that not hiring a real estate agent will save them money. You need a real estate agent because of their ability to negotiate on your behalf. Having a real estate agent is indeed a time saver, it gives you the freedom to go about other activities. Not just having time for other of your businesses, a good realtor, will represent you better because it is his area of specialization and they know everything involved when representing you.
2. Contract Contingencies & Inspections
The last thing a buyer wants to ever happen when buying a new home is they move into the home and there is a serious issue with the plumbing or some important areas of the building.
It is highly important to perform various inspections on new construction before the closing occurs. Using a real estate agent will ensure that the correct inspections will be done per law.
3. Make Recommendations on improvements and upgrades
Buyers hate spending lots of money on upgrades and improvements that may hurt the value of the home when it’s time for them to sell the home.
Hiring a real estate agent when buying a newly constructed building helps on reducing chances that a buyer may spend money on upgrades and improvement. Getting a good real estate agent helps a buyer understand the cost of an upgrade and the potential return on investment. A real estate agent knows the effect an upgrade can have on the resale value of the building if the buyer would want to sell it in the future.
4. Recommend a quality Lender and Financing Options Available
Getting finance for a newly built home is very different than getting a mortgage for an existing home.
Getting finance for a newly constructed building is not offered by all lenders. It is recommended you use a local lender when buying a new home. Therefore having an experienced real estate agent who has experience with newly constructed buildings is good because they will give you several recommendations to lenders who offer new construction loans.