Most of the people would prefer to purchase a new property, as it has great investment potential, although not all of them can afford it.
Anyone who has planned to purchase a property has already faced with the choice to buy new or resale property. Although there are many benefits of living in a new home as well as disadvantages.
Everyone would prefer to move into a house or apartment with sterile bathroom and kitchen appliances, a house with better insurance rates and extended warranties, but does anybody know what are the drawbacks of a brand new property?
If you want to customize the look of your home, most probably you will find more flexibility in a used home. Most of real-estate investors prefer to use the most affordable building materials in the interest of cost, which makes your home identical to the others. Many people think it is costly and pointless to make home improvements in such home, as it will not affect it's value.
Another thing to reconsider is the size of the plot that you get for the cost of your home. Most of companies construct homes on the identical plots. This means that such luxuries as bigger yard or space foe patio or even private garden are harder to find if they were not included in the original construction of the home.
It is obvious that the cost of a new-build home is much more expensive than an older home. The new homes are usually among the most expensive on the market.
The value of your new home will start to depreciate among other newly built homes in the area, once you have lived in it. It will be harder to see your investment's return, especially if you do not intend to make a long-term invest.
In most of new projects new residents are moving before construction process is complete. This means that fist residents will have to live in a partially construction site, which leads to the dusty driveways and unpaved roads. This may be nuisance for you if you prefer to park your vehicle outside or to spend time outdoors. Some people will argue that they could live in better conditions for what it costs to live in a new built home. Buying a new home, you will be asked to choose extras such as designer fixtures or wall tires, though at the end it may cost you much more you would expect. Some of these extras are optional, but some are included in the price of your new house, which may lead to the great increase of costs on your home.
If you have looked for a new home, you should already notice that it is common for a new homes to have smaller rooms than you would find in older homes. In order to make sure that investors will get great return, constructors built their homes on less land. Homes may be built on a reduced footprint, or with the minimum amount of space. These types of homes are still acceptable by a purchaser, but very inconvenient for people with disabilities.
A new home will be a great investment, if you can afford it. It will take few years to get your investment return, but it will be worth it at the end. Although if you are looking for an affordable home, it would be better to avoid buying a new home.
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