Buying A Home – 10 Facts You Need To Know About New Homes

Every year there are close to 1.6 million new homes being constructed in planned communities or developments. As a homebuyer, you dream about the day when you can move into the perfect new home. Even though new homes have several great benefits, there are several drawbacks you need to know about. First, let’s check out the benefits of owning a new home:

1) You’ll Be The First Owner – There’s nothing like the feeling of moving into a brand new home designed just for you. You can expect everything to be immaculately clean.

2) The House Was Designed Just For You – With a new home you get the opportunity to customize certain features of the home including the paint color, type of flooring, and grade of fixtures. You also get the option to select the floor plan suited to your particular needs.

3) Modern Conveniences – You’ll find new homes offering features designed just for today’s lifestyle. Convenient features like an attached 3 car garage, open floor plan, and high speed phone and cable lines. New homes also come with built-in energy saving appliances that won’t need replacing for at least a few years.

4) Environmentally Friendly – New homes for sale are constructed with energy efficient materials so you’ll not only save on heating and cooling costs, you’ll use less of mother nature’s resources.

5) Community Planning – New homes tend to be built in master planned communities which feature convenient facilities such as swimming pools and community centers. These developments usually have homeowner rules and regulations you need to abide by.

Now lets study the negative features:

6) Higher Price – As you research market pricing, you’ll find new homes selling for more. Don’t let this fact deter you from buying one because when it comes time to sell, you’ll reap the profits from a higher resale value. Some new home builders also feature great financing options to help move their inventory of new homes.

7) Limited Representation – Unless the builder cooperates with outside agents, you’ll have to deal only with the builder’s sales agent. This limits the amount of protection you’ll receive because you won’t have another agent looking out for your best interests.
Break In Period – As the first owner, you get to be the first one to test out the features of your home. It’s not uncommon to discover flaws or defects in materials or workmanship when you first live in the property.

9) Postponed Finish Date – While a builder has the best intentions of completing a new home by the deadline, it’s not uncommon for the completion date to be pushed farther out. Unfortunately builders seldom pay you for the delay.

10) Homeowner Rules – Most new home planned communities require you to abide by their list of regulations governing use of your home. There isn’t much you can do to get around these rules unless you plan on moving out.

Are you interested in seeing Orange Homes For Sale? Then contact these local Orange realtors to help you locate one.