When Should You Consider Buying a New Construction Home?

There's no question that a brand-new home is alluring. For starters, everything is untouched; it's often gleaming with amenities, and in many cases, these homes are available for immediate occupancy. What's not to like?

Recent data shows that the number of construction permits for privately-owned single-family homes has jumped 7% this year, underscoring a growing preference among buyers for new construction homes.

But are these homes the right choice for you? Despite their mass appeal, they don't suit everybody and are certainly more appealing to individuals, couples, and families with specific needs. So, let's look at those needs and help you make an informed decision regarding your next home.

Immediate Move-in Ready

One of the drawbacks of new construction homes in the past was that you had to wait months or over a year for your home to be complete. However, that's now consigned to history. Today, many home builders offer immediate-move-in homes that require you to get the keys, move in, and start living your new life.

Unlike existing homes, which might need renovation or remedial work to bring them up to standard, these homes allow you to start living in them immediately. When you have the keys, you only need to unpack your belongings.

This convenience is very convenient for those working on a tight schedule. Perhaps your lease is ending, and you have a sizable down payment and want to move quickly. Or maybe you and your family are relocating for work. The point is that you can have everything signed, sealed, and delivered within a month, making these homes a far more attractive option than existing ones.

Upgrades Included as Standard

Another attractive feature of new construction homes is that they sometimes include upgrades within the sales price. From stainless steel appliances from leading brands such as Whirlpool® to high-end key and security hardware from Kwikset®, companies are offering far more as standard than they used to.

Not only are these expensive to retrofit to older homes, but providing all these features could be extra beneficial if you're a first-time buyer and don't own items such as fridge-freezers and washers.

Now, this isn't yet industry-wide practice—not all new home builders offer this solution, but if you look hard enough, you'll find firms offering upgraded finishes as standard. Terrata Homes, for example, is one of the handful of nationwide builders offering luxurious finishes within their affordable sale price brackets.

Higher Energy Efficiency and Modern Construction Standards

While the fixer-upper might appeal to you, have you thought about what the running costs might be after all that renovation work? Older homes, constructed to decades-old building standards, are often poorly insulated and lack technological innovation.

On the flip side, brand-new homes are exceptionally well insulated (including double-pane windows) and leverage technology to keep running costs down. They often include smart thermostats that automatically optimize heating and cooling, and some homes even come with solar panels, allowing you to lower your utility bills dramatically.

So, while a new home might cost slightly more than an old home, the longer-term savings can be significant and often more than offset the initial price hike.

Warranty and Peace of Mind

On a similar theme, new homes come backed with warranties and guarantees. If you buy an older home and the HVAC breaks down, it's a costly claim on your homeowners' insurance or a repair bill if you want to avoid going down that route.

By contrast, in a new construction home, everything is covered by warranties. From the appliances to the four walls and roof, everything is covered. If something goes wrong in your brand-new home, you have peace of mind that you won't face any additional out-of-pocket expenses.

You can also expect little to no maintenance in the first few years, presenting another saving over buying an older property.

Modern Floor Plans and Designs

As you would expect with modern homes, they cater to the latest contemporary trends in interior design. As such, they deliver stunning open floor plans, with kitchen, dining, and living spaces integrated into a single well-flowing space.

But that's not all. They also feature intertwined indoor-outdoor living arrangements such as covered patios, decks, and courtyards, making outdoor entertaining a breeze. With Americans stating that outdoor living space is more valuable than ever, you're probably looking at properties with high-quality outdoor areas.

Lastly, these homes often come with other modern home design hallmarks, including flex rooms (spaces with no designation, so you can use them how you see fit) and sprawling master suites with en-suite bathrooms and walk-in wardrobes.

Community Amenities

One often overlooked advantage of new homes is the communities in which they are built. No longer are these neighborhoods merely a collection of homes. These places are chock-full of amenities and facilities. You can expect a central clubhouse, event facilities, swimming pools, splash parks, miles of hiking and biking trails, fitness centers, sports courts, dog parks, dedicated green spaces, parks; the list goes on, all in your (often gated community).

Due to their master-planned nature, they are often positioned on the doorstep of shopping, dining, entertainment, and educational amenities too. In short, when you purchase a new home, it's not just the walls and roof you're investing in. You're deciding on the kind of lifestyle you want.

If you're keen to be part of a vibrant and social community with bountiful facilities, a new home will likely prove an excellent match for you.

Is a New Construction Home for You?

With state-of-the-art features and community-centric designs, it's no surprise that new homes are becoming more and more appealing. Whether you're a first-time buyer, a busy family, or a retired couple, these homes all offer something to each demographic cohort.

Suppose you're currently standing at the crossroads of a buying decision. In that case, hopefully, you can better understand what a new construction home might offer and whether it's a good fit for your specific circumstances. The chances are it will be. With designs prioritizing luxury, convenience, and community, these homes have little to dislike.