If you are like many potential homebuyers, you are considering the pros and cons of building a new home in vs. buying an existing home. If you are working with a building contractor, they're likely to point out some things that might not be apparent about buying an existing home. If not, buyers beware - there are many things that will be included with your home purchase that you might not have bargained for.
Here are the top six things you should consider when building a NEW Home vs. buying an existing home:
1) Dated Building Materials: There was a time where homes were built with lead paint, asbestos siding, and many other materials that are now considered toxic. While many homebuyers are aware of the risks associated with homes built prior to 1970, there are still risks to buying newer homes due to substandard materials and building practices. For example, do you know the benefits of using cellulose insulation over fiberglass? Do you know proper building practices to ensure the highest possible indoor air quality? Most likely not, but your Maine building contractor should.
2) Safety & Coding Issues: There are many features in old homes that are not up to current building codes but pass inspections because they are grandfathered in. For example, stairways may be too steep for children or aging adults, kitchens and bathrooms may not be properly ventilated, and many other things. These issues range from minor to detrimental, but all affect the quality of life in your home and can add up to large renovation costs in the long run.
3) Energy Inefficiency: Because building standards and practices have changed so much over the past several years, many houses that are even a few years old are not as energy efficient as new homes. On average, energy costs on an Energy Star rated home are up to 30% less than a traditional home - that's an annual savings of $800-$1200 per year!
4) Property Sold "As-Is:" While there is a seller's property disclosure to alert you to major defects with an existing home, what about all those minor (but incredibly annoying) things? You know, like the faucet that has a slow drip, the doorway that sticks in the summer, and the dozens of other "little things" that can add up to big headaches in the long run. Additionally, an older home comes with older systems and appliances that are no longer under warranty, which are costly to replace when they unexpectedly go.
5) Remodeling "The Money Pit:" Many buyers convince themselves they are getting a great deal on a house and they can make it their dream home with just a few minor renovations. The reality is that renovating is a messy, time consuming process. While it is certainly worth the end result, especially when updating a kitchen or bath or adding a garage, there is a lot to be ฝากขายคอนโด said for having it the way you want it from the get-go.
6) Not Your Style: When buying an existing home, it is unlikely that you are going to come across a seller with your exact interior design style. Most likely the paint colors, fixtures, and window treatments will need updating or replacing to suit your needs. Why not have it your way from the beginning?
The bottom line is that while building is not the right fit for everyone, it is a great solution for most home buyers. A reputable contractor/home builder can walk you through the home building process and help you decide if it is right for you. To find a quality home builder, visit www.nahb.org or your local NAHB chapter. While there are many "deals" to be had in the existing home market, it is important to take the above into consideration and realistically figure what you're going to be spending and what you're going to be getting in return. You might be surprised - and not in a good way.
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