So far we have looked at the pros and cons of purchasing a resale home. Today we will explore the option of buying a new property.
Buying A New Property
The Good
The good news with new homes is that everything is new. Really. If you like things neat and clean this will be a big selling point for you. Brand new sinks, showers and tubs that no one else has ever used. Brand new carpets and floors that no one has spilled anything on and no animals have ever relieved themselves on. Also, in many instances, if you are buying a new home and get in early enough you will be able to pick out what colors you want in your new home, so there will no painting in the future due to ugly color choices. And you may even be able to pick out what types of flooring you want and what sorts of cabinets or countertops you prefer. If you like the “new car smell” you get when you buy a new car than you are really going to appreciate that new home smell. Plus you get the satisfaction of knowing that no one else has ever lived in that property. It is yours and your alone.
The Bad
The first bad thing is that new homes are more expensive, there is no way around this one. Besides that fact that buying a new home typically will cost much more than buying a resale home, if you get into a new housing complex than you may have to put up with some inconveniences for awhile. If your home is in a new development and the construction is slated to last for a long time than you will have to deal with living in a construction zone with the noise pollution and aggravation that is involved with building houses. Also most new home prices do not include the cost of appliances such as a refrigerator, stove, dishwasher, washing machine and clothes dryer. These will all have to be out of pocket expenses.
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Hi Sean,
Buying a new property is really good. I love that new home smell and everything is so clean and spotless. I made the mistake of buying a brand new home in a small development.
It was the second home built so it wasn’t long before my beautiful new home drowned under a layer of dust. I lost a few car tyres as a result of punctures. So, next time I’m going to wait until the area is built up before I purchase.
Great point with living in a construction zone when purchasing a new home in a develpment. I tend to like the idea of buying a resale because of the fact that things such as gardens and utilities are already established and connected and it is ready to move straight in. I guess the fact that I like to fix things and make them ‘better’ has nothing to do with my decision.