A newly built home in pristine condition is the dream home a lot of people picture. But is the price worth paying?

For first-time homebuyers or seasoned homeowners, new construction homes can seem like a great option. They offer flexible timing, are low maintenance to start, and are yours to make memories in without anyone else’s fingerprints all over.

New construction homes can range from single-family dwellings to multi-family homes, condos, and townhouses but what they all have in common is that they have never been lived in before. New construction homes may also include homes in which the buyer has had a role in helping design or in deciding its features.

Here is a glimpse into whether new construction homes are worth it or whether you’re better off looking at other properties.

 

 

You Are The First

You will be the first person to turn the lights on and live there. It’s a fresh slate that is uniquely yours to assume.

Existing Homes May Not Suit You

Existing homes may not be capturing your eye. If they aren’t, a new home that you can help design is a win.

Getting ready to buy a home? Have a look at these other blogs for more helpful tips!

You Can Be A Decision-Maker

In a lot of cases, if you get in early, you play a role in making key decisions about how a new construction home is built. This may involve selecting appliances, types of countertops, paint colours, and other customization options.

Many New Constructions Are Higher Priced

While you can find some reasonably priced new constructions, particularly in the condo market, many newly built homes come in at higher prices. Property elements, such as a fence, sod, or finished basement can also jack up the asking price. Buyers should also keep in mind that it will also likely mean higher property taxes.

Flexible Move-In Date

Although this varies depending on the speed of the construction, newly built homes completed on time can offer more flexible move-in dates than other real estate deals can.

There May Be A Long Timeline

You may buy a new construction home today but have to wait years to move in though most may be completed in less than a year. Even so, there is a wait time involved.

All-New Features

A new construction is going to have all-new features, systems, and appliances. There is going to be no maintenance involved, at least for the first few years, if not significantly longer.

You Have Limited Negotiating Power

There is no way to haggle downward with a builder or to haggle on a new build. They want to ensure the project is profitable and they have no reason to decrease the list price. Ultimately, if they don’t sell it to you, they will most definitely be able to find another buyer.

Extremely Energy-Efficient

Newly built homes are going to have the latest in technology and design within the property, making it energy-efficient in a major way.

Weighing Your Options

While new construction homes can be worth the cost of purchase, for many, buying an existing home, renovating it, and redesigning it on their own schedule can be all the more advantageous and more affordable, in some ways.

In neighbourhoods across Toronto and Etobicoke, there are several quality properties with significant potential on a redesign and/or full home renovation. For a full glimpse at homes for sale in South Etobicoke, reach out to Adrian + Andrea today.

Thinking about buying a new construction home? As local real estate experts, we can help! Call us at (416) 319-6893 or email info@adrianandrea.com today!