Owning a new home, whether resale or new constructions is exciting. There are many benefits on both sides. Here are some benefits to buying a newly constructed home.
* As a purchaser of a new home you will have the opportunity to make design choices to the home. This will usually include flooring, tiles, cabinetry, and sometimes even modifications to floor plans. °Please note, depending on the builder some of these design choices may be considered upgrades and may, therefore, encur additional costs.
* Since most home builders require closings of 6 months to 1 and 1/2 years from the date of purchase, in today’s market, many buyers will have increased the value of their home prior to closing on the property. ° Please note that as the market can change frequently, this may not be the case for your property.
* Tarion New Home Warranty is in place for all newly constructed homes. This will cover most deficiencies you find in your home, which in turn may keep your maintenance and/or repairs costs lower in the first few years of ownership.
* With most new homes having a longer closing period form the time of purchase buyers often use the time to save extra money. This can be put towards a downpayment on the mortgage, pay for extra upgrades or help in purchasing new furniture or appliances for the home.