Some people love the possibilities of a blank canvas while others appreciate finding a masterpiece at an estate sale. Much like a piece of art, when it comes to buying a house your preferences, personal style, and budget impact whether you choose a new home or existing property. As you ponder which is best for you, here are some reasons to consider buying a new home.
- New home feel. There is nothing like the smell and feel of a brand new, never lived in home. You’ll be the first person to bathe in the tub, cook on the stove and walk barefoot on the plush carpet.
- Options. New home communities offer a variety of floor plans, elevations, and locations to meet your needs. You’ll be in control of whether you buy a single- or two-story home; if it’s on a cul-de-sac or near a school; and if it has a gathering room, covered stucco patio, wet bar or office space; and more.
- Customization. From upgrades like crown molding and granite countertops to design choices like fixtures and paint colors, buying a new home affords you the flexibility to create your personal style. Most builders have a design center staff to help you build the house of your dreams.
- Lean and green. Energy efficiency codes and standards are continually being improved. A newly constructed home will have the latest in efficient appliances, low-E dual pained windows, water-saving shower heads, low volatile organic compounds (VOC) paint and other materials to help you reduce your carbon footprint, and save on energy costs. If you buy an ENERGY STAR certified new home, estimates show you will see an average of $300 in annual savings and reduce greenhouse gasses by 3,700 lbs. per year compared to an older home.
- New technology. New homes offer the latest in technology from wiring to accommodate mounted TVs, surround sound, high-speed Internet cables, and security systems; to safer circuits to support plugging in smart TVs and gadgets. In many cases, new construction builders will even allow you to select where plugs and switches are located to accommodate your home office or entertainment center, not to mention technology in outdoor living spaces.
- Builder financing and perks. If you shop around, you will often find that builders offer concessions such as kitchen upgrades or financing perks to increase a new home customer’s buying power or help sell out a phase.
- Warranty peace of mind. Everything from appliances to roof to heating and air conditioning systems is brand new, which means you shouldn’t have to budget for any major repairs for several years when buying a new home. New home warranties are also often superior to those you might inherit or purchase with a resale property. While they vary by builder, an example is a 10-year structural warranty and 5-year protection against leaks, along with warranties offered by the manufacturers (e.g. windows, HVAC, appliances, etc.)
- Timed to your liking. New construction enables you to move in on your timetable without having to worry about when the existing residents will move out.
- Community amenities. If you’re buying a house in a burgeoning master-planned community, you will have access to the latest amenities. You’ll also avoid re-zoning surprises that could impact future property value.
With all these pros about buying new, why would you ever consider resale? Many people think that to get a good value; you have to settle for an existing property. According to Kendall Thacker and Steve Randall, Realtors® at the Thacker & Randall Group, a full-service real estate team that has served Las Vegas since 2001, this is not necessarily the case.
“When we sit down and make an apples-to-apples comparison of the cost to buy a new home versus resale property, our clients are often surprised that it can end up being a wash once you factor in all of the improvements they want to make,” said Thacker, who noted that he sees the gap close as resale prices in Southern Nevada steadily increase as more new home communities arise. Six months ago their homebuyer client mix was 75 percent resale to 25 percent new construction. More recently, they see a 50/50 combination of the new home to resale purchases in Las Vegas.
“I’ve noticed that when we take buyers out looking for the ‘value’ of a resale property, many times they’re just not feeling it,” said Randall. “When a buyer walks into a new construction model and finds they can get exactly what they want, the just light up with excitement.”
There are many reasons to buy a new home, but Thacker sums it up by saying, “you have the ability to make the new home exactly as you dream.”
To find a wide variety of finely crafted homes that fulfill your wish list, visit the Skye Canyon Home Finding Center.