by Brandon Cornett
The purpose of this home buying tip is to explain some of the advantages new homes have over existing homes.
Before
you begin your home buying process, it helps to identify the type of
home you want. In fact, it's a necessary step if you want things to go
smooth later on.
Why is this important? By having a clear picture
of your ideal home, you'll be able to narrow down your search, which
will save you time and energy.
One of the first questions that
will come up is new home or resale home? Both have their pros and cons,
but new homes have the following distinct advantages.
Advantages of a New Home
1. It's New!
A major advantage of buying a new home is that everything is ... well,
new. In other words, the kinds of things that can cost a lot to repair
-- like the roof, the major appliances, the heating and cooling --
shouldn't need any repairs for a long while. If they do need repairs,
see the next item.
2. Warranties
Most new homes come with substantial warranties on critical areas like
the roof, the foundation, etc. If you buy a resale home, you'll most
likely have to purchase a warranty yourself (if you want one).
3. Design Input
If you have a home built to your specification, you'll be able to make
a lot of choices. Depending on the builder, you'll have some say in the
floor plan, the features, the design elements and more. You can truly
put your personal touch on the home.
4. Negotiable Features
This benefit will largely depend on the kind of real estate market
you're in. But in many cases, you'll be able to negotiate the price,
the options and the closing costs. When you buy from a builder, you'll
probably deal with a sales associate who represents the building
company. The salesperson wants commissions, and the only way they get
commissions is by selling homes. Typically, you'll find that a
salesperson will "bend" as much as possible (within the limitations
imposed on them) in order to make a sale.
Some
builders will offer incentive packages as part of negotiations. For
example, maybe they won't lower the price, but they'll be willing to
upgrade the kitchen features or the flooring.
5. Thorough Inspection
Usually, a neutral third-party will inspect a new home before the
buyers close on it. This could include a member of the city / county
zoning and construction board, or a licensed inspector hired by you.
The
builder will also walk through it with you, at various stages of
construction. The point is, there are usually more people reviewing and
inspecting a new home than a resale home.
* Copyright 2006,
Brandon Cornett. You may republish this article online provided you
keep the byline, author's note, and active hyperlinks.
Learn more:
For more home buying tips, visit HomeBuyingInstitute.com -- the Internet's largest library of home buying articles and advice. Online at http://www.HomeBuyingInstitute.com
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