Many first-time buyers and experienced home owners struggle with the decision to buy a new home or invest in a fixer-upper of their dreams. It’s often a tough call.
There is a notion that older homes have more “character.” However, this character is often accompanied by unexpected costs and a variety of short- and long-term issues that may not have been taken into consideration beforehand. So before you close the deal, read on to find out why buying a new home is often the best choice for home buyers.
Many people “settle” for their home, warts and all. They buy an existing home and convince themselves to live with an awkward kitchen layout, worn porch railings, and tile that doesn’t quite match their personal tastes. After all, it’s something that they reason to themselves that they can fix. But fixing all the problems in that fixer-upper seldom occurs right away, if at all.
That’s the beauty of building and designing your own home - it’s a blank slate. You have the chance to be 100% satisfied when you opt for buying a new home. Even if you don’t build it from scratch, most of the better home builders offer new homes plans that are versatile. Your new home can be shaped according to your specific preferences – countertops, flooring, appliances, cabinets, and even doorknobs can be customized to fit your personality and style.
When buying a home sometimes you need to think like an economist rather than an accountant. While the upfront costs may be slightly higher for a new house, you must always consider the long-term costs. One of the biggest factors in considering long term costs is energy use and general upkeep. A newly constructed home will use the latest in insulation, including energy efficient appliances, superior high performance windows, water conservation systems, advanced framing techniques and more that aren’t available in homes that at 20+ years old.
Some older homes may seem cheaper at first, but don’t fool yourself - many don’t have the advanced energy saving appliances and systems in place like new homes do. If you want to upgrade an older home to the same energy-saving and water conservation features as a new home, that could easily cost you more than the price of a fully upgraded new home. Always be sure to assess the long-term costs of buying a fixer-upper - it may not be so cheap after all.
When buying a new home, you are also buying some peace of mind. New homes come with a warranty from the builder, and brand new warranties on all your major appliances. If the siding comes loose, the water heater breaks down, etc., you will be covered. Older homes, on the other hand, usually aren’t covered by lengthy or comprehensive warranties. You may get a 1-year warranty on major home system components, but these are typically limited and there are many repairs or replacements that they simply won’t cover.
With any home, things are going to break down and need to be replaced. It’s all a matter of time. There are no guarantees when it comes to older homes – you are inheriting all the existing issues that the previous owners neglected, ignored or were unaware of. As you can imagine, replacing the roof or a HVAC system on an older home a year or two after purchasing can really bite into your wallet!
Related: Is a Home Warranty Worth the Money?
Many people are inspired by the idea of having a craftsman home with quaint decor and classic characteristics that aren’t found as often these days. While it’s true that some architectural feats can’t be matched in today’s construction, you can walk away with a charming and classic home, regardless. With new homes, open floor plans and modern but classic exteriors are the current trend. But keep in mind: the rest is up to you. There’s always ways to personalize your new home.
In fact, homes with a mix of modern and classic architectural elements are often very attention-grabbing and stylish. When you buy a new home, it’s entirely in your hands. You have unlimited freedom to shape the home of your dreams. A new home provides you with a solid, state of the art, advanced and efficient framework - it’s up to you to paint the canvas to have it match the home of your vision.
To sum up, it’s strongly urged that new homeowners and those looking to move invest in new home construction. The benefits of living in a new energy-efficient home that’s never been lived often outweigh the benefits of buying an older home, and save you money, too.
Still can't decide whether to purchase a new home or fix up an older home? Take your time! New home sales are growing, especially new homes in Greenville, SC. If you are looking for Greenville SC homes for sale, we invite you to discover the stylish homes from Great Southern Homes. As a leader in efficient, eco-friendly GreenSmart Homes, Great Southern Homes will help you find the ideal home for you and your family.
Ranked the 3rd fastest-growing private builder (Builder Magazine 2017), the 62nd largest builder in the nation (Builder Magazine 2017) and one of SC’s fastest growing companies (SC Biz 2016), Great Southern Homes knows the housing market of the Southeast better than anyone. Since our beginning, Great Southern Homes has built homes on the solid foundation of exceptional quality, industry-leading construction standards and brilliant energy-smart and cost-efficient features. Great Southern Homes currently builds great new homes throughout South Carolina with operations in the Midlands, Greenville/Spartanburg, Charleston, Myrtle Beach/Georgetown, Florence, Sumter and Aiken/Augusta. Visit one of our model homes today, or www.greatsouthernhomes.com for more information.