- Why Buy New Construction with TA Liesy Homes vs. Resale
Commentary from the Realtor
Why not build your own home? Whether buying a home currently under construction, just finished and for sale, or having a home built from plan design to finish there are several advantages to new construction over resale. I’ve listed just a few below:
- The home you purchased is warrantied for at least 1 year and TA Liesy Homes offers a “2-10 Warranty” which warranties the 2nd – 10th year for things such as structural, foundation, etc. The 2-10 Warranty is transferable with the home! Also, items such as furnace, appliances, water heater will have their own warranty, you have relief in knowing that these items will run efficiently and effectively, NO surprises like you might have with a resale home.
- You are paying property taxes on today’s value not the value that was possibly set at the peak of the market some years ago. Property taxes on resale homes, especially in Happy Valley, can be extremely high compared to new construction homes, which can make a big difference in your monthly mortgage payment.
- Depending on the stage of construction you can choose selections and make modifications to the plan; make it your home to fit your lifestyle!
- New homes are built to higher standards than they used to,… energy efficient, radon release venting, insulation, roofing- higher and better standards!
- Equity! In our current market with prices going up and the cost of building increasing as well, you are likely to already have equity in your home by the time the home is finished or shortly thereafter as the market continues to go up during your home build. When you lock into a price with a sales agreement it is your guaranteed price; the price doesn’t go up based on construction costs or market changes (only upgrade and change costs that you select will adjust your price!)
- Being approved for financing is just as easy as if you were purchasing resale! Also, builders typically have an in-house lender that offers unique programs such as extended rate locks, buy downs, incentive, etc. that aren’t typically offered with a resale purchase. The TA Liesy Homes preferred lender offers strategic options to financing as well as incentives!
- You have the enjoyment of watching and participating in the process of your home being built! If you have kids they love it! Also, you get what you want! Don’t settle for a home with gold hardware and outdated paneling, the updating costs add up quickly; you can move into the home as you want it not as you want to make it.
- Depending on the stage of construction you purchase at, you will likely have the opportunity to do upgrades and add the cost into the loan so it is not cash out of pocket. Fencing, additional appliances, AC, additional patio space…. These are examples of what you might add in to the price of the home now instead of paying out of pocket after closing.
When asking the question of new construction homes vs resale, the answer is clear. These are only a few reasons why you should consider building your home; let’s build!