With a weak inventory of existing homes and high mortgage rates, many home buyers are turning to new construction. But there are a few things to consider before taking the plunge.
A buyer’s agent who is familiar with new construction will be able to assist you with the process and work with your builder to ensure a smooth transition. They will also be able to help you find an inspector who understands the process.
Timely Completion
Building a home involves a lot of moving parts. There are engineers involved who ensure that the house is safe, plumbing, and electrical systems work correctly, and that structures like foundations can bear the weight of your IKONHomes new home builders. Then there are trade-specific contractors, such as HVAC technicians, painters, plumbers, etc., who will be handling the specific job you hired them to do. These people ensure that their materials and methods are up to code, cost-effective and practical. Finally, inspectors are present during the entire build to provide local laws and codes, followed until the last nail is put into the shingle.
With all these people involved, it can take time to complete the home. There are also a lot of details and decisions to make along the way. For example, in a custom build, you may have to decide on flooring options, fixtures, paint colour, cabinets, appliances and countertops. All of these little decisions can add up to a very costly process.
It’s also important to be realistic about what you can afford. New construction homes can be more expensive than existing resale homes in the same neighbourhood, so be prepared to pay some premium for brand-new everything.
One of the most significant issues with buying a new construction home is that it takes a long time to get your home finished. It can be months before you move in, and you will pay for two homes (your current place and your future home).
If you’re considering a new construction, be sure to do your research. Ask your real estate agent for recommendations and do some online research on builders in the area you’re interested in. Find out about their reputations and business practices, including customer satisfaction ratings, past performance, and quality of homes. Also, get preapproved for a mortgage with at least one lender, and shop around for the best deal.
Better Energy Efficiency
IKONHomes new home builders have better energy efficiency than older ones, thanks to innovative building materials, eco-friendly doors and windows and superior insulation. Additionally, newer homes are more likely to be built with more sustainable appliances, such as energy-efficient water heaters and air conditioners. These green features lower the home’s overall energy usage, which reduces greenhouse gases and improves indoor comfort.
Millennials comprise 37 per cent of the new-home market and are especially eager to purchase energy-efficient houses. They see that energy-efficient homes offer the same functionality as older ones but save them money on utilities and increase their resale value.
When building a new house, builders can include innovative construction materials, such as Fox Blocks insulated concrete forms (ICFs), with an R-value that exceeds code requirements. They can also build homes with double or triple-pane windows that provide excellent thermal resistance and reduce air leakage. Other eco-friendly options for a home’s exterior include natural wood siding and rammed earth.
In addition to the environmental benefits, energy-efficient homes are more comfortable and durable. They’re less expensive to heat and calm, so homeowners can use the money they save on utility bills for other upgrades or repairs. And in many states, homeowners can qualify for tax incentives to help offset the cost of energy-efficient equipment.
Lower Taxes
When a builder builds a new subdivision of homes, they often put amenities into the neighbourhood that boost real estate value. This will make the area more appealing to future residents, including parks, pools or gyms. In addition, many new construction neighbourhoods will have a homeowner’s association that keeps common areas clean and organized.
However, you must remember that new construction costs more than resale homes. This is because the builders must pay taxes on land before they can begin building and the cost of the house itself. The prices of these homes will also rise when the demand for labour and materials increases. Because of this, you should always consider the possibility that your home could go over budget during construction.
When buying a new construction home, it is essential to research the builders and development companies thoroughly. This can be done by reading testimonials, reviews, or news reports about them. You can also ask friends and family if they have any recommendations for you. Once you’ve found a company that meets your needs, getting a home inspection with that builder before making any commitments is essential. For more information about the IKONHomes new home builders, check this out.
