Home ownership is an excellent decision for military families needing more space and a more permanent post unlike on-base housing or renting. Making the choice between a new construction vs. an old property may be difficult. Here are some advantages and disadvantages to help you decide.
New homes come fitted with up-to-date elements such as stainless steel appliances and designs like an open-plan kitchen, granite counter-tops, and internet wiring. This eliminates the need for future upgrades, unlike most old houses. New constructions are however more expensive to buy because of the upgraded lifestyle.
A newly built home comes with a brand new roof heating system, plumbing, and appliances. This means that less maintenance is required thus lowering the homeownership costs. A resale home, on the other hand, may have an old roof, furnace or appliances that may need major repair or replacement to update your home.
New-build properties include new energy-efficient appliances, windows, and insulation. This makes them six times more energy efficient than existing, older properties and therefore saves you money on energy bills. Older homes are less energy efficient due to older materials and poor insulation.
Most new-build homes carry extended builder’s warranties against any construction-related problems that may require repair. This helps give buyers a peace of mind. In addition, the new appliances and equipment also come with warranties.
Homeowners’ insurance will be less on a new construction because all systems are new and up to standards. Insurance may, however, be more expensive depending on the condition of an older home and the insurance company may require you to prove that the older house is up to standards.
If you are in the market for a new home, it is important to find a reliable realtor that work with military families. A realtor will help research the builder’s reputation and act as your representative to protect your interests during the buying process as well as recommend the right professionals for home inspection and warranties. Your realtor is familiar with market prices and can help you in negotiating the price and watch out for hidden charges to help you get you a good deal.
* Rebates are not allowed in all states. In some states, a gift card or commission credit at closing may be provided in lieu of the Cash-Back bonus. You must register with LeadingRE Heroes before contacting a real estate agent and be represented by the assigned real estate firm at closing to qualify. All real estate transactions are negotiable. Other terms and conditions may apply.
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