Buying In Pennsylvania? 9 Reasons To Consider A New Construction Home
Are you shopping for your dream home in Pennsylvania? Finding a home that meets your required criteria isn’t always easy, especially when shopping among previously owned homes. If you’re finding it difficult to find a home that meets all your needs, you might want to consider a new construction home. This article covers a few of the biggest advantages of choosing a new construction vs an existing home.
Pro # 1 – Personalized Design
Perhaps one of the biggest advantages of a new construction home is the personalized design. When shopping for previously owned homes, you’re limited to what’s currently available. Most homeowners sacrifice a few amenities or features to get the most important ones. This might include giving up square footage to be in a good location or getting one less bedroom in return for a larger kitchen. A custom-built new construction gives you the exact features you want in a home. This also means you won’t have to spend the first few years of homeownership renovating and remodeling the home to match your family’s preferences.
Pro # 2 – Warranty Coverage
Everything in a new construction is new, meaning it typically comes with better warranty coverage. Since everything is brand new, you also shouldn’t have to spend as much on maintenance or repair fees. Of course, every warranty is different, so it’s important to check your details before signing to know what it does and doesn’t cover.
The length of warranty coverage also varies, depending on your contract. However, many new construction warranties last at least one year, and some may last even longer.
Pro # 3 – Tax Benefits
Many homeowners aren’t aware that new construction homes often have tax advantages. Philadelphia, Pennsylvania, for example, has a tax abatement program that allows you to reduce your taxable income by a certain percentage each year over the first ten years of home ownership. Many newer developments in the area still offer the full 10-year abatement.
Pro # 4 – Cost-Effective
Even though they’re made with brand-new materials and custom-designed to meet your every need, in many cases, new construction homes are more cost-effective than other options. Of course, the fact that you won’t have to complete repairs for a while also factors into the cost-effectiveness of buying a new construction home property. With the real estate market reaching record highs, many existing homes actually cost more per square foot than building a custom house.
Pro # 5 – More Inventory
Since new construction homes are built from scratch, you have more inventory to shop from. This means there may be more room for negotiations and less pressure to buy quickly. Whether negotiating closing costs or price, you have much more flexibility for securing the best home price in your budget. You can also close on your new home much faster with a new build.
Pro # 6 – Energy-Efficient
New construction homes are built with better, more sustainable materials, making them more energy-efficient. New builds must abide by stricter state and federal energy efficiency laws, so you can usually expect Energy Star-certified appliances and better insulation. A more energy-efficient home means lower utility bills for you. Some energy-efficient new construction homes even come with built-in smart home technologies. Smart security alarms, lighting, appliances, or sound systems can make your home even more convenient. The increased efficiency of newer homes can also qualify some homeowners for more tax advantages.
7- Easier Financing
You may also find it easier to obtain financing for your new construction home. As long as you have a decent credit score and reliable income, you can usually get approved for a construction loan. Main Line homes for sale help new construction home buyers navigate the financing and building process.
8- You’re the First Owner
Many homeowners enjoy the peace of mind of being the first homeowner of a property. You never have to question a previous resident’s design choices or wonder what the home’s vibe was before your family moved in. Additionally, whenever you’re ready to sell, being the only owner can be a huge selling point, helping you sell faster and for more money.
9- Sense of Community
New construction homes offer a welcoming sense of community since everyone moves in around the same time. Many newly built communities also include shared amenities that allow you to get to know your new neighbors, like a pool or clubhouse. Everyone in the community is new to the area, giving everyone a shared interest that tends to connect people.
New construction homes offer many benefits, including cost-effectiveness and easier financing options. You’ll also spend much less on maintenance and repairs with a new build. There are few better ways to ensure you and your family have a home that meets your needs than with a custom build.