Reasons Why You Should Purchase New Construction

When you are deciding between buying a new house or an older house, there are different things to review. Each alternative has pluses and minuses. The better type of property will depend on your preferences and skills. New houses continue to be appealing to a large number of buyers. The following are a few reasons why you should purchase new construction.

Resale Value

Typically, new construction will retain value better than older ones, even if they have comparable designs and upgrades. Buyers prefer new construction because of the benefits described in this article. Higher demand leads to better values. New properties are thus a good investment.

Meeting Modern Building Codes

Building codes from 50+ years ago will be very different from updated code. People are not required to bring their systems up to code in order to sell. Buyers normally need to accept that as part of purchasing older properties and understand they will ultimately want to perform renovations, for either safety improvement or to improve energy efficiency. With new construction, you do not need to think about this. The home must be constructed based on current laws and is verified by the local inspector.

Freedom to Customize

New construction offers several customization options, although it may differ depending on whether you are going with a subdivision or constructing a completely custom home. With a custom home, you have entire discretion over the design. In a subdivision, most builders enable you to alter a number of items. Those alterations produce a more unique property.

Less Repairs Needed

There is maintenance needed with owning every type of house, but with new construction there are typically fewer issues (because all materials are new). Furthermore, with old houses, you may not have information on how thoroughly the systems were cared for in the past. This may make it difficult to project when future work may be necessary.

Other Reasons Why You Should Purchase New Construction

There are many reasons to purchase new construction. In addition to the option to upgrade, new construction is in compliance with recent building codes, will need less work, and retain resale value. They are commonly situated in consistent neighborhoods. If you prefer old world character or enjoy tackling improvement tasks, then new construction might not be the right choice for you. It really depends on your personal preferences and home maintenance proficiency.

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About Chris Graves

I grew up in Massachusetts, spent the majority of my young adult life in Boston, and own a home in Windham NH. I have owned properties in MA and NH. I specialize in mortgage lending in Massachusetts and New Hampshire and my company does have the ability to lend in other states. I graduated from the University of Massachusetts in Amherst Massachusetts in 2002. I have a Bachelor’s in Science. In addition to managing a team of loan officers my personal loan production is always in the top of the entire of company. I have personally been in the mortgage business for over 13 years. I pride myself with taking my clients from application to close in the smoothest and quickest way possible, while keeping them well informed during the entire process. I originate my own loans from start to finish and work hand in hand with my loan processors & underwriters to make sure I am updated to the minute with all of my files. I stay up to date with lending guidelines and speak with underwriters on a daily basis to ensure I am aware of all of the lending guidelines in place.

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