Pros & Cons of Buying A New Construction Home in San Diego
Are you looking at new homes for sale in San Diego? New construction homes may be a good fit for first time home buyers, retiree or newly parent’s.
New homes are great for households that are interested in a home that is move-in ready and has a warranty.
But new construction homes are not for everyone, and some individuals will prefer historical architecture.
Here is a guide to the pros and cons of purchasing a new construction home. Once you’ve read through, you will be able to make an informed decision whether you want a new construction home or not.
What Is A New Construction Home?
When we say ‘new home’ we are referring to a new construction home. A new construction home by definition means a home built from scratch, and one that has never been lived in before.
There are different ways that can happen, for instance, the plot might be bought by one owner and then built only to sell. Or it is also possible that people buy a plot and build a home for themselves as per their liking. There are also cases where developers buy a plot and build homes as a part of their business, and people buy these homes to live in.
Nowadays, new construction homes are getting increasingly popular, and more and more people are looking for new homes for sale in San Diego. Should you climb on this bandwagon and find yourself a new construction home? We have made the answer simpler for you.
What Are The Pros Of New Construction Homes?
1. Custom Made
You must have imagined several things for your dream home. This is the best time to manifest your dreams. New construction homes are custom made, meaning you can make any additions to them as per your preferences. This is probably the biggest plus of having a new construction home. As a homeowner, you can let your creativity run amuck and come up with new designs that you want your builder to follow. This liberty is not usually seen in homes that are already built.
2. Eco Friendly
There is a lot of rage as to how one can make their home a lot more energy-efficient and eco-friendly. Well, when you build a home from scratch there is a lot that you can do.
Loose Fill or Radiant Barrier Insulation
The building of your home should be insulated in the best way possible. This will help you cut back on energy costs greatly and more. The two best insulation types for a warmer climate are loose fill and radiant barrier. These will help you insulate your home in a way to ensure it is a zero energy home.
Using solar panels as your homes electrical source is a wise decision and mandatory on new builds in California. Solar panels come with many benefits. For instance, you will not contribute to the harms electricity from fossil fuels cause. Moreover, you will cut down on electricity bills greatly.
If more and more people install solar panels on their new homes, we would depend significantly lesser on fossil fuels than we do now.
3. Low Maintenance
Since these homes are made from scratch you don’t have to worry about them giving up on you. No doors will be falling off soon, and the roof will not leak come rain. Maintenance can be quite bothersome, which is why getting a new construction home is a much better bet. You won’t have to worry about it for several years to come.
4. Home Builder Warranties
A home builder’s warranty holds a lot of worth when it comes to new construction homes. With a home builder’s warranty, you will get a two-year assurance that the warranty will cover anything that happens to the house. It is possible that the laborers are working in the homes nearby and can fix any repairs to your home immediately. This is a great advantage as you don’t have to worry about the repairs getting delayed.
5. Brand New Homes
Since these homes have never been lived in, you get to enjoy all the things in their prime. Most tenants when leaving a home for new owners, leave it in a very bad situation. You have to get many repairs only to make the place good enough to live in. This is why a new construction home is like a dream come true. You won’t have to face any repairs and enjoy the aesthetics scratch-free.
What Are The Cons Of New Construction Homes?
1. Very Costly
Getting a home custom made or even buying a newly made home can be very expensive. Real estate agents have found it to be a staggering 20% more expensive than buying a used home. This figure can go even higher if the area changes and if you want many different additions to your home. For some, these prices are acceptable as they are getting things just the way they want. While for others, the prize can exceed unaffordable limits. Since construction is expensive; many people are unable to negotiate with their builders on the prices, which is why many deals do not go through.
2. Extended Time To Move In
You might not be able to move into your new home right away. You will have to wait for several months before you can move in. Most builders give an estimate of 3-12 months for the construction of your home. This can be a problem if you have to evict your existing home right away. You might not be able to find a new construction home right away which is why it is best to have ample time on your hands if you want to go for a new construction home.
Homeowners Associations (HOAs) are a popular concept. This association runs on the principle that if the association wants to establish a new rule, you must have a vote to decide. This is why the new construction neighborhoods have the most strict HOAs. If you want to create a new design for your home, you will have to get their approval, which in most cases gets denied. To protect the uniformity of the society or the neighborhood: newer designs are not approved. To control the spike in prices, such rules are put in place.
This association might have builders as partners who might not be very considerate of the problems of people living there. They might make decisions to appease themselves and not for the actual community.
Keeping the pros and cons in mind, you must make a decision as soon as possible. If you can bear the expenses and carry on with the long moving in time, you should get a new construction home right now. If these cons are way too concerning, waiting for some other better time is not as bad as it sounds. Hopefully, the article is sufficient in helping you make the decision. If you want more details, you must contact a real estate agent right away.