It seems that Pinellas county is changing every single day. New industry is flocking to the county and our real estate market is soaring! It is a very exciting time to be in the real estate business and we are thrilled to help you!
During this time of change and development, we see a lot of new construction homes popping up all over the county. We have clients who only want new construction, clients who want anything except new construction, and clients who do not yet understand the complexities of purchasing a new construction home.
So what exactly are the pros and cons of a new construction home? Is a new build the right fit for you and your real estate needs?
- New homes are built in today’s style and to fit the needs of today. Most of the new construction you will find on the market today offer things that buyers want such as walk in closets, an open concept, ample natural light, and high ceilings.
- A lot of builders offer a warranty on their product! This means if anything goes wrong with your new home for the length of the warranty, the builder will fix it for you. Note: Warranty lengths vary and some builders do not offer them at all.
- If you purchase a home prior to completion, a lot of builders will allow you to customize the home with your personal touch! Pick the color of cabinets, paint, tiles, and more.
- No one has lived there before. While this should goes without saying, it is often overlooked. This home is 100% your home. You will never deal with another person’s dirt or poor color choices.
- Maintenance free living! Everything from the roof to the appliances to the plumbing are brand new and unlikely to break or malfunction, leaving you to live maintenance free for a few years.
- Lower energy bills. New homes are much more energy efficient than their older counterparts.
Well. That all sounds great! But before we go searching for your perfect new construction home, let’s think about some of the downsides…
- Cost. Often times, new construction homes can cost a lot more; sometimes up to 20% more than a similar existing home.
- A sore thumb? Sometimes, builders do not think about the neighborhood they are building in and your new home can stand out in comparison to the other homes in the area. A unique home can be fun but is often difficult for resale.
- Smaller lots. Builders are in the business of making money! It is not uncommon for builders to buy one large lot and build two homes on it, making the lots very small and the homes close together. If a large yard is important to you, an existing home may be the better fit.
- The ideal image of your new home can add up very quickly. All of those special touches you want may be counted as upgrades by your builder and those stack up!
- New homes take a long time to complete. Depending on the size of the home, how far along the home is when you purchase it, and any potential delays, a home can take up to a year to be completed! (Average build time is around 7 months but this varies)
- After you move in, there are still a lot of costs you will need to deal with. Most of the time, blinds are not included and landscaping is scarce.
- Move in day can change due to delays in construction. Having said that, delays in closing can happen with any home purchase!
As you can see, buying new construction is not for everyone. Don’t worry if this list seems daunting, we are here to help you with every step! Whether you want a new construction home or an already existing home, our agents are trained to find that one special house that you will make your home!