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7 Reasons Why A New Home Is Better Than A Ready Made Resale
The most obvious reason why a home buyer would lean towards a completed resale property is because occupants can move in quickly without having to wait for years for the a new construction home to be completed. Even a student who consistently ranks last in class will be able to see that.
For investors, the obvious benefit of completed resale houses is the ability to collect a rental cash inflow immediately.
But let’s not forget that there are many reasons why a new home is a better choice than a pre-owned one. The success of new launch condominiums is not just a fantasy.
1) Lesser costs on cosmetics and repairs
A 10 year old house will have been exposed to wear and tear for a decade. This means that many items might be in desperate need for repairs which could dig a huge hole in your pockets.
For new construction homes, you can expect nothing less than everything being in mint condition.
Even better, you will have a selection of choices on what type of furnishing the developer will install for you. For example, cabinet colours, flooring tiles, furnishing laminates, etc.
Contrary on what many people think about new home coming in stock condition, there are actually a number of customisation options that a buyer can select from.
As developers identify these need for personalisation, new constructions homes often come with many design options that are explained to buyers before a purchase is finalised.
3) Energy efficiency
The engineering aspects of construction is something that is always evolving and improving. What’s the point of technological advancements when they are not applied?
New buildings these days are always built with better energy efficiency that is considerably more eco-friendly than buildings built decades ago. These could mean better air circulation, energy saving elevators, solar-powered equipment, etc.
Green systems are also often embraced by developers. Some condominiums are even built around the concept of going green. So you can expect to save on utility bills while doing your part in saving the planet as well.
Home appliances today are almost unrecognizable from their predecessors from a decade ago. One of the main differences is going green.
4) Freebie and gimmicks
Because you will be dealing with an organisation when buying new homes, you will often find many gifts and freebies for making your purchase. You can expect very little of that when buying resale and dealing with an individual seller.
You can often find freebies like furniture vouchers, boutique store discounts, rebates on closing costs, even a brand new car! It is spectacular how some developers can go all out to attain their sales targets. You will be the beneficiary of their marketing efforts.
When you buy a new car, it comes with a warranty. The same goes with a new home. And you can point out defects to be rectified before taking over the house. So you do not have to worry about contractors who refuse to honour their warranties.
If your roof leaks a month after you moved in, the developer will cover it. Whereas if you are buying a completed house from an individual, he will laughing at his good fortune that you did not notice the leak when buying the house.
It is now your problem and not his anymore.
6) Special rewards
Developers involved in new condominium launches often have tie-ups with affiliates to give customers special prices on things like insurance and mortgages. Sometimes even with furniture malls, contractors and lawyers. You will be able to take advantage of these things instead of paying market price for them.
7) Safety hazards in mind
Newer buildings will be built with the latest building codes for safety and fire hazards. They simple have to do so for the authorities to approve the commencement of construction works.
Many older buildings do not comply with the safety requirements of today and no effort is made to adhere to them. Asbestos for example, is a cause for concern for older houses. You can have peace of mind on these matter when buying a new home.