Owning a big property can be tempting, especially in a larger state like Florida. According to World Population Review, the…
Advantages and Disadvantages of Buying New Construction Homes
If you are looking to buy a house, chances are you’ve likely considered every available home for sale. But although each home has its uniqueness, new construction in Miami or newly built homes and resale or existing homes both come with different pros and cons. Here are a few things to consider as you weigh your options.
Advantages of new construction
- Customizable floor plans: If you decide to go for a custom-built home, you’ll work with the contractor to create a layout that works best for your life. Whether traditional or modern, whatever you want is available in a custom home or new construction.
- Personalized finishes: In a new construction in Miami you may be able to upgrade finishes from builder-grade materials if you connect with the builder before construction is completed. For many people, adding their own personal touches are worth every extra dime.
- Energy efficiency: Nowadays new homes have “smart” appliances that are more energy efficient. And this creates homes that are less expensive to heat and cool than older models, which translates to lower utility bills.
- Lower maintenance: Most of the time a new home requires less maintenance since everything is brand new.
- Builder warranties: Many new homes include warranties that can protect your new home for years before you need to undertake any major repairs. This in turn helps save money on repairs.
- New home communities: Buying a new home often comes with a new lifestyle. Some communities include amenities like parks, pools, and spaces that are close to schools and transit.
- Caters to buyers who value flexibility: The time needed to complete new construction may be long, but if you need some time to arrange things and moving in quickly is not urgent then this option is a good one for you.
Disadvantages of new homes
- Higher costs: New constructions are usually more expensive than resale. Generally, the median sales price of an existing home was nearly $391,200 in April 2022, while the price of a brand new home topped $450,600.
- Possibility of a longer commute: New construction homes tend to happen outside urban areas since bare land is more plentiful. However, the flip side to this is longer distances from jobs, groceries, schools, and fewer nearby options for dining, culture, arts, and entertainment.
- More waiting and risk of delays: If you’re building a custom home chances are it could take several months to move in contrast to an existing home. Therefore, you should plan ahead if you are thinking of selling your current home. It’s important to consider potential delays as well.
- Lack of mature landscaping: Landscaping around a new home where earth has been cleared to make way for homes can feel stark and exposed until plants and landscaping features bring life to the property. This can take a while as plants take several years to fully grow.
If you are still deciding on whether or not to buy a new construction in Miami, reach out to us and we’ll help you out. When it comes to finding your dream house, we are here for you. Schedule an appointment today!