Join us! Facebook Twitter Remodeling and Home Design

The Benefits and Disadvantages of Buying a Newly Built Home

January 15, 2016

The Benefits and Disadvantages of Buying a Newly Built Home

 

According to a recent survey conducted by Trulia, twice as many potential homebuyers prefer to purchase a new home in lieu of buying a home that has been previously lived in. In this case, the term ‘new’ refers to a home that has never been lived in, meaning that the home has been recently built, or it is purchased during the pre-construction phase. While buying a new home may be popular, and beneficial in theory, it is worth taking a deeper look into the benefits and disadvantages associated with buying a new home.

 

The Benefits

One of the top benefits of a new home, especially one purchased in the pre-construction phase, is the fact that you can work with the construction company to incorporate custom features that are specific to your taste and family needs. When working with a quality Montreal general contractor like Dilamco, you will be able to indicate the unique custom features that you want in your home prior to the building of the home.

Additionally, with new construction or pre-construction purchases, there are no after-purchase projects like painting and renovations, the Montreal general contractor that builds the home will be responsible for doing all of the work for you.

Also, a new home will likely have many of the contemporary amenities that will make today’s homes more practical and functional. There are some unique demands that modern homes are able to facilitate, including an open kitchen, large master baths and walk-in closets.

As a financial benefit, a new home will not require a great deal of maintenance over the first few years of living in the home, and everything that does require some type of maintenance or repair will be covered under the warranty.

The Disadvantages

One of the most prevalent disadvantages associated with purchasing a new home is the increase in cost per square foot. As a general rule, a new home can easily cost in excess of 20 percent more than a comparable pre-owned home. The added amenities, including the custom upgrades can add up quick, further increasing the cost of the home. Because new homes don’t have a motivated seller element in the pricing, as with a privately owned home, the ability to negotiate the price is virtually non-existent.

Many new developments are not necessarily located in the most advantageous geographical locations, which can increase commute times.

What should be understood is that some of the disadvantages and frustrations associated with purchasing a new home can be mitigated by working with a reputable Montreal general contractor like Dilamco. Not only will you receive quality work, but in many cases, it can be done at a lower price, based on the volume of work done by the contractor.

 

 

Home About us Commercial Residential Disaster Recovery FAQs Blog Contact us
© Copyright 2017 Dilamco - All Rights Reserved.
Web Design by Adeo