Being in the market for a new home is exciting, but the quest comes with a lot of questions — especially these days. In which areas should you search? (Always prioritize safety.) What should be your price range? (What you can afford is more important than how much you qualify for.) One question that will inevitably cross your mind is: should I build or buy?
Historically, building a new home might have been considered a luxury option reserved for those with money and time to spare. But today, it could actually be the right choice for a considerable portion of house hunters.
Here are five reasons you should consider building new over buying used.
You won’t be part of a bidding war
The market is like a jungle right now, and it makes you wonder how buyers avoid getting discouraged. The new normal in home buying includes substantial down payments, waived contingencies and — of course — a bid higher than the asking price.
Bidding wars are now the norm, with some agents in Utah reporting overbids of up to $100,000, according to one Deseret News article. This insanely competitive market has highly reduced (or at times even negated) any financial advantage of buying used over building new.
Not to mention, participating and losing in these bidding wars can be emotionally taxing — and nothing’s more important than your mental health.
Your home truly is move-in ready
“Move-in ready” appears on every other listing out there but often seems to be used more as a buzzword than a statement of truth nowadays (although any home with a point of entry and a floor could technically be considered move-in ready).
Buying a used home will inevitably require some touch-ups and repairs — some chipped paint here, a nasty vent or baseboard there. And more often than not, there will be a bigger issue, like a water heater or AC unit on its last legs.
A newly built home, on the other hand, is ready for occupation without you needing to lift a finger — quite literally if you decide to hire movers.
You can personalize your home
Building a home not only ensures that everything in it is brand new; it also opens up opportunities for personalization. Everything you’ve been designing in your head during Friday Zoom calls is on the table: the shoe closet, the outdoor fireplace, and even the study for your voracious reading. Like the Isley Brothers said: “It’s your thing. Do what you want to do.”
This personalization happens during the planning process when you’ll work with a design specialist to help you plan your dream home.
You avoid hidden costs and safety issues
There are many hidden costs to buying a used home compared to building a brand-new one. Older homes, no matter how charming, often require imminent costly repairs. Between older construction (roofing, plumbing, wiring, etc.) and older appliances, you could be looking at tens of thousands of dollars in repairs or replacements early on in your homeownership, says Investopedia.
More importantly, older homes can pose certain safety issues. Outdated electrical wiring can be a fire hazard if left unmitigated. Harmful materials like asbestos and lead can also be problematic.
A brand-new home, however, will be up to modern building code and have new everything. This will result in a safer and more cost-efficient home that won’t require major work until your tween graduates college — and they can take care of it then as a thank-you for all the raisin’ and feedin’ you gave ‘em.
You will feel an unmatched amount of pride
Think new-car smell, amplified by 1,000. After much anticipation, the reassurance of a safely constructed and appointed home combined with the thrill of seeing your vision executed to perfection will give you an incredible sense of accomplishment. And that feeling will linger for quite some time.
Find your new home
Woodside Homes has move-in-ready, brand new homes available today! Or if you’d rather design the home of your dreams, you can find an available lot and work with their team to lay the groundwork for your future home.
To see available homes and lots, visit the Woodside Homes website.