Home buyers can either opt for a previously owner or foreclosed home or buying a brand new one which is much more expensive if one brings it down to per square foot. There are good selling points to these two choices but there are more advantages of buying a brand new one if you want to have a place where you can comfortably settle down for good.
In the case of a pre-owned home, we can find two selling points. Pre owned homes are cheaper and so you have a lower monthly amortization. But this cost does not include other expenditures which you might have to make whenever things go wrong or things get damaged. The other selling point is to disregard the house but dwell on the value of the property which is a good real estate investment in the long haul.
Because we focus so much on the high cost of down payment and a higher monthly amortization cost, we miss out on the numerous selling points of buying a brand new house for a more comfortable future.
The Key Elements of Great Properties
The first selling point in buying a new house is that you can have an input when it comes to its design, layout, choice of color, type of flooring, etc. Many home builders allow their buyers to participate in this process. This cannot be so in a used house because the process will involve demolishing the existing one then constructing a new arrangement which is limited to the structural patterns of the old house.
Questions About Homes You Must Know the Answers To
Energy efficient standards are required by building codes of today. Home builders must adhere to these regulatory codes since there is a higher energy risk at present. So now newly constructed homes have to use energy efficient insulations, doors and windows like the ones with double, triple or quadruple panes which were unheard of before since energy was cheap and abundant and could provide homes with warmth during winters and cool air during summer. We also have newer HVAC designs, all playing together to reduce utility bills down. Today new homes use high efficiency stoves, refrigerators, washing machines, water heaters which were unlike what they have years before.
There are warranties to a new home so if there are minor repairs, the home builder will fix it up for you for the first or second years.
Another advantage of buying a new home is that you can have mortgage financing perks that home builder give in order to sell as many homes as they can.