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jacksoncho
Jan 42 min read

Myths about buying a new construction house

These days, newly built houses are so beautiful that many people are showing a keen interest in purchasing them. However, there are various opinions and comments about newly constructed homes. Today, let's discuss some of these aspects. The content of this discussion is based on an article posted on realtor.com on January 2, 2023.




  • New Builds are Expensive:

  • True, on average, new builds can cost around 16% more than existing homes of similar size. However, this cost may be justified by new roofs, windows, appliances, HVAC systems, and warranties provided by builders.

  • Long Wait for New Builds:

  • It's true that constructing a new home takes time, approximately 6.5 months on average. However, many new homes are sold during various stages of construction, potentially reducing the wait time.

  • Difficulty in Obtaining Mortgages for New Builds:

  • This is false. Obtaining a mortgage for a new build can be easier as the banking process is often simpler due to the new and standardized construction.

  • Rapid Depreciation of New Builds:

  • This varies based on the type of property. Generally, in residential areas where builders construct many houses, property values tend to rise. However, over time, the price difference between new builds and existing homes in the same area may decrease.

  • Inspections for New Builds:

  • Incorrect information. New builds can undergo inspections twice - once before drywall is installed and again after construction is completed. Village inspectors usually handle code-related inspections, eliminating the need for additional private inspectors.

  • Uniform Appearance of New Builds:

  • Partially true. Buyers often choose from a set of predefined models, but customization options for both the interior and exterior are available, allowing for some uniqueness.

  • Quality of New Builds Compared to Older Homes:

  • This is subjective. While older homes may have sturdier materials, new builds adhere to updated building codes, ensuring safety and energy efficiency. Village inspections ensure compliance with recent permit codes.

  • Need for a Realtor in New Build Purchases:

  • While technically true that a realtor is not required, having an experienced realtor can be beneficial. They can provide insights into the location, structure, and potential drawbacks or advantages of the property, helping buyers make informed decisions and negotiate better prices.





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