Whether you’re a first-time homebuyer looking for your starter home, or you’re an experienced homebuyer looking for your forever home, there are a few key aspects to decide on before you begin your search for the perfect home. Certainly, you and your real estate agent have the basics of your home search covered and you’ve discussed the basics of your ideal home--you’ve settled on how many bedrooms and bathrooms, and you’ve selected special features, like a pool or a deck, that you want included. But have you considered which option is right for you when it comes to looking at new construction homes versus resale? While your real estate agent can provide professional guidance as you explore the options available, it can be helpful to research the pros and cons of both home buying routes beforehand.
Benefits of Buying New Construction
There are several important components to consider when comparing building a brand new home with buying a resale home, including:
Customization. One of the first “pros” people think of when it comes to new construction is the ability to customize. You can expect to work to create a home to your unique specifications, you can have input on nearly every aspect of the home, from flooring and countertops to paint colors and moldings. This can be an outstanding benefit, in that it will be the exact home you envision. However, new homes can cost upwards of 20% more than similar resale homes.
Modern amenities. Newer homes are often built to include beneficial features that work with today’s lifestyle demands, and special upgrades are always available. You can enjoy an eat-in kitchen with marble countertops, huge walk-in closets and gorgeous hardwood floors, but just remember that these upgrades and special amenities will add to the final cost of the home. In a resale home, you are less likely to find all of the amenities you want, and will have to renovate later. But it may be a less expensive option in the beginning.
Location. If you have a specific neighborhood or school district you want to live in, a new construction home may not be the best option for you. New construction communities are typically built further away from city centers and more developed areas. This can mean many things for you, including a longer commute to work and the possibility of living in a construction zone if you’re one of the first to move into the area. On the other hand, it’s likely that the region will continue to develop around your new neighborhood and the area will become more popular, meaning you may end up with some valuable equity in your home after several years.
Lot size. If you dream of a large backyard with space for a pool, deck and playground area for your kids, you may want to consider buying a resale home. Many new construction homes are built on smaller lots, with less space between neighboring houses than you may be accustomed to in established neighborhoods. For those who don’t want to worry about maintaining a large yard and detailed landscaping, however, a newer home on a smaller lot may be the ideal option.
Modern versus traditional style. Investing in a new, modern home is great in many aspects, such as enjoying energy efficient and high-tech features right up front, however the style is less traditional. For some, this offers up a blank canvas and it is seen as an opportunity. Others feel newer homes often lack the charm that comes with the original architecture and detail of older homes. Consider your own aesthetic tastes. If having a traditional style home with historic detail and unique elements is more your style, you may want to consider a resale home.
Let The Northrop Team Help You Select Your New Construction Home
From charming older homes in quaint neighborhoods to brand new houses boasting modern amenities, the options for homebuyers in Maryland are plenty. By carefully considering the options available and how they fit your preferences and lifestyle, you’re sure to find the perfect home. For help finding your next home, contact the expert real estate agents at the Northrop Team today!