Steps toward a Successful Home Purchase

Purchasing a home is an idea that can be thrilling and scary at the same time. Some housebuyers will get nothing less than a new home with an untouched bathtub. Others want a property with character in a well established area. Hence it is extremely crucial to know the benefits and drawbacks with purchasing a newly built home or buying a resale.

1. PROs (For New Homes)

• In a new construction property, the warranties all start from the closing date of the home. Items like appliances will often have 12 months builder's warranty and appliance manufacturers offer extended warranties on their individual appliances in addition to it. The concept of buying a property where "everything" is covered for 1 to 20 years for items like structural or roofing systems is definitely the appeal for many house buyers.
• No chain involved, since you don't undergo the consequences of getting distracted by a long property purchasing chain, and completion is frequently a bit faster.
• Compared to pre-owned homes, new-build houses are constructed to rigorous safety standards. Fire-proof materials are standard nowadays, for example, and properties come with fire safety doors and smoke sensors.
• As a result of increased understanding of the environment, brand new houses may use less energy, release less carbon dioxide and have less of an impact on the surroundings.
• Less maintenance. When you're purchasing a new house, a great benefit is that you're less likely to have to do much maintenance, especially in the early years.

• In a brand new home the warranties don't usually cover damage and improper use of home components.
• When stepping into a new home, some other out of pocket expenses to think about would be: window coverings, major appliances, lawn irrigation system, and refrigerators.
• In spite of the additional builder incentives, real estate specialists claim new homes are usually higher in price than existing homes.
• Some new buildings are prone to being built close together, as building developers are often keen to fit as many new homes as they can onto the available land space.
• And yet you would expect to see brand-new homes to be amazing, often they are not. One may encounter minimal issues with fixtures or fittings, or with the quality of the finishes. Once builders have moved on to their next job, it's often tricky getting them back to finish things off properly.
• The gardens often need a lot of work. The soil quality could be poor and, although it may appear as if there's new turf laid, you can't assure that it's laid properly.

• In pre-owned homes the seller and the buyer can negotiate getting an extended home warranty on some or all components of the home. From appliances, to swimming pools, to HVACHeating and cooling systems, extended warranties give the buyer a peace of mind when buying a previously owned home.
• Most of the things that the previous owner set into the home, comes with the home. Cheaper to move into: window shades and blinds are in place, landscaping, patios and fences are complete. This is a great advantage for home buyers that wish to have a "move-in ready" home .
• Maturity of the community. Buyers can take a historical perspective and look at how well the properties have held their value. Plus, buyers willing to buy a fixer-upper can quickly raise the cost of their property than someone with a new home.
• Buying in an established neighborhood permits home owners to know more about the schools and neighbors before they buy.
• Cheaper in price compared to new homes with same size.
• Builder errors have been detected and fixed.

• The issue with buying a pre-owned house concerning out of pocket costs is that some items that come with the property may not be in good condition. You could inherit appliances, and home systems that may cost you money in upgrading in order to have them working.
• Major appliances, plumbling and Heating and cooling systems will need some repairs and maintenance during the first year.
• Lack of modern insulation materials means bigger gas and electricity bills to heat and cool.
• Bathrooms and electrical outlets may not be enough.
• Be wary of charming old homes found in not-so-wonderful neighborhoods: these can be almost impossible to sell.

So now you know about these things, it's up to you to weigh the pros and cons of purchasing a new versus pre-owned home. Select between a maintenance-free new home or a pre-owned home in a mature community and also consider your budget. It's not bad to become practical, because after all it is you who's going to feel satisfied when you find your dream house!

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