Today’s new construction homes offer more benefits than ever before, making them a strong contender in any home search. Depending on what’s important to you, you may find that the advantages of a new construction home outweigh the benefits of a pre-owned alternative.
Some of the top benefits of buying a new construction home include:
1. Low-Cost Maintenance
New construction homes come with a significant financial benefit: low maintenance costs. With modern plumbing, appliances, heating, and air, a new construction home can leave you worry-free for several years.
Built in accordance with the latest building codes and safety regulations, new construction homes are engineered to require less care and maintenance. With less to worry about and fewer unexpected out-of-pocket expenses after move-in, you can spend time enjoying your new home and exploring your new community rather than making repairs and updates to an existing home.
2. The Convenience of Move-In Ready
Whether you’re on a strict schedule or on a tight budget, new construction homes are a great option for home buyers who want to move in worry-free with only their suitcases.
With a new construction home, you can trust everything is updated, your plumbing will work and you won’t have any foundation problems that must be fixed before you can move into the home.
You also don’t have to worry about missing or dated appliances, as new construction homes often come with state-of-the-art appliances already installed. This can include:
- Washer and dryer
- Stove and oven
3. High-Rated Energy Efficiency
With modern construction and the integration of advanced technologies comes the added benefit of energy efficiency. New construction homes are built with the latest advances in construction materials and building practices, which can give new homeowners the benefit of reduced monthly utility bills.
Many new construction homes are certified by an independent, third-party home energy rater, which requires the home to meet certain energy standards and requirements. This means the home will include insulated walls and ceilings, helping to reduce heat loss during winter and keeping your home cool during summer. Many new homes also include high-efficiency central air conditioning, further reducing utility usage.
4. The Protection of a New Home Warranty
Just like when you purchase a new car, a new construction home – and everything in it – often comes with a warranty. This means you can buy with confidence knowing the builder will cover the cost of any issues during the warranty period, such as a leaky roof or broken water heater. This is unlike a pre-owned home where you may not know about hidden defects or problems until after you’ve purchased the home – and you’re left with the bill.
A new construction home warranty gives you one less thing to worry about during the home-buying process.
5. Modern Floor Plans and Designs for How You Live
Pre-owned homes can be dark and boxy, often leading you through a maze of tiny rooms that have you seeing dollar signs for each wall you’ll want to tear down.
In contrast, a new construction home is a bright and welcoming experience from the moment you walk in the front door. Often with a wide-open floor plan, many new homes boast tall ceilings that give a spaciousness you can’t always find in an existing home.
They are also thoughtfully designed for the way people need and want to live. An open eat-in kitchen with an oversized island creates the optimal place to gather with friends and family, and bedrooms and bathrooms are strategically placed to keep every family member or guest happy.
6. A Home Designed to Fit Your Style
Buying a new construction home gives you a clean slate. There’s no red shag carpet, rooms covered in floral wallpaper, or pastel-colored bathrooms you’ll have to change as soon as you move in. Working with a new home builder gives you the opportunity to put your touch on your home without having to lift a finger.
With several options to choose from, a new construction home lets you design a space that fits your style. The choice is yours. Whether you choose 18”x18” ceramic tile, granite countertops, finished wooden cabinets, or a palatable neutral wall color, your home will be finished in a way that’s tailored to your preferences. You also have the added appeal of being the first to cook a meal in your kitchen or enjoy your brand new spa bathroom.
7. A New Community With Top Amenities
When you purchase a new construction home, you get more than just a house. You also gain a brand new community with amenities and features you can’t always get in a pre-owned home. Along with the added bonus of an expertly crafted neighborhood, many communities come with a full social calendar and a fully equipped gym with fitness classes included.
Some communities also offer resort-style amenities, such as:
- Swimming pools
- Grand clubhouses
- Walking trails
- Tennis and pickleball courts
Whether you’re 55+ and looking for an active lifestyle, a growing family in search of more space or looking to purchase your first home, new construction communities have something to offer for everyone.
Cost of Building vs. Buying Resale
Newly built homes clearly offer some advantages over resale, but what about the cost of buying new construction? Not surprisingly, a brand-new house, built from the ground up, based on current labor and material rates, will be costlier than a house built years ago. According to Zillow, the median sales price of an existing home in the U.S. rose to nearly $354,000 in fall 2021, while the median price of a brand-new home topped $400,000.
So, on the face of it at least, it appears that you’ll be paying extra for buying a new construction home. To compare apples to apples, though, as yourself the question, as you are touring existing homes, will you be happy to move in and not change or update anything? If you are noting outdated appliances or bathroom fixtures or that dreaded beige carpeting in the living area, calculate how much it would cost you to update the features you don’t care for, and then compare the total cost to the price of a new home. And don’t forget about the energy-efficient features of your new home, which will result in lower utility bills and thus lower your overall monthly expenses.
What about the longer-term value of a new construction home? There is no simple answer to this question. The resale value of a newly built house will largely depend on the decisions you make when you build and when you decide to sell. Your new construction home is likely to appreciate or at least hold its value if you stay in the home for at least a few years; if you do not overspend on builder upgrades; if you do not over-customize your home to fit your taste; if you buy one of the first or one of the last homes in the development; if the neighborhood as a whole is growing; and of course, if you decide to sell in a seller’s market.
Are you looking to buy a new construction home? Consider one of K. Hovnanian’s new communities across the U.S., each with a range of thoughtful, stunning home designs. Find our communities in your state today!