Take a chance on a new house

By
Real Estate Agent with Keller Williams Coastal Area Partners
While the choice of home varies depending on each individual's situation and needs, there are some basic pros and cons that should be addressed. In the Savannah area, you will be faced with this tough decision. There seems to be new subdivisions popping up all over the Pooler area. With the number of listings in the area, buyers have many choices. So, should you build a new home or build new memories in a home that has a history of it's own? Let's take a look at the pros for buying new first.

Pros:New Construction

  • Everything is NEW! You will be the first one cooking on your new oven, the first to make your marks on the newly painted walls, and the first one to make this house a home.
  • Builders can offer more incentives to entice you. Most will offer to pay closing costs, others will throw in upgrades, and then some will even make BIG price reductions if a home is sold in a certain time frame.
  • Newer homes tend to be more energy efficient than there older rivals.
  • Maintenance and upkeep should be a minimum. The first year of mishaps is usually covered!
  • Some homes are being green built (ie. more environmentally friendly with reduced energy costs, better building material, etc.)


Cons:

  • You must do A LOT of research on your builder.
  • With the slowing market, how will it affect the builder's initial plans? Will they still build the ammenities as promised? Will they go bankrupt? Will they finish the subdivision? Will they sell off land for some other use?
  • You will have to deal with all the settling that can occur. I know builder's offer a 10 year warranty on the structure. But what happens if on the 11th year, when your home's left side is now higher than the right?
  • You still may have problems that are generally covered your first year. Sometimes, trying to get the people in can be frustrating.
  • If the builder is offering you CRAZY incentives, what happens when they do the same thing after you buy your home? How will it affect your home's future value?

It looks as if the number of pros and cons of buying a new home are tied (at least from what I came up with). Everyone gives different values to each of these pros and cons, thus swaying them one way or the other. So before you jump on that new home deal, keep in mind it may not be the deal of the century. Dig deeper than the price, look at the future and all it's possibilities!


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cpower21@gmail.com
Keller Williams Realty Coastal Area Partners
Office: 912-356-5001
Cell: 912-308-2699
www.westchathamhomes.com

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Rainmaker
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Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY
I'm not wild about new construction. Unless you are planning to stay for the long haul, you will find that paying a premium for having everything "shiny new" is an expensive proposition. Older homes that need some work are generally a better buy - and a safer buy. 
Mar 18, 2008 11:28 PM #1
Rainmaker
486,231
Karen Rice
WEICHERT, REALTORS® Paupack Group - Hawley, PA
Northeast PA & Lake Wallenpaupack Home Sales

These are good tips, Christy.  Personally, I don't understand the lure of new construction simply because so many new homes are just cookie cutter duplicates of others - or near duplicates.  One development near Lake Wallenpaupack has several identical homes, the only difference is the siding color.  Two of the homes are side by side !!  

Off topic, on a personal note: I love your new profile pic! 

Mar 19, 2008 04:26 PM #2
Rainer
122,017
Christy Powers
Keller Williams Coastal Area Partners - Pooler, GA
Pooler, Savannah Real Estate Agent

Andrew: That may have been the case when the market was hot, but I don't think it applies anymore!

Ruthmarie: In most cases you are right. We bought new, which at the time didn't seem like a bad idea. We have a large family and this home fit us. However afterwards, I started reading blogs and articles about new construction and how it can be bad for the environment. It never occurred to me. I came from a small town in PA, where it was rare to find new construction.

Karen: I agree. That is definitely one downfall. Your home doesn't really have personality. I think when it comes time to sell, it will be harder to differentiate our home from the others. After all, you want your home to stand out! Thanks! I had just got my hair done that day and was feeling a little cheesy. hehe

Mar 19, 2008 09:53 PM #3
Rainer
38,200
Julie Jalone
MagnumOne Realty - Roseville, CA

Hello Christy - I think you have presented a good analysis on buying new construction and clearly there are lots of people out there that feel it is the way to go. 

Thanks for stopping by my site and leaving a comment on my "Referral Exchange" blog post.

Julie Jalone in Sacramento

Mar 20, 2008 08:23 AM #4
Rainer
66,857
Dionne Morgan
Realty World Solano Realty - Vallejo, CA
Broker REALTOR ,GRI, e-PRO
Thanks for sharing the pros and the cons. We have a lot of unwanted new construction in our city. The new homes are mostly zero lot line. Postage stamp property. It does work for some but not with children.
Mar 21, 2008 12:00 AM #5
Rainer
122,017
Christy Powers
Keller Williams Coastal Area Partners - Pooler, GA
Pooler, Savannah Real Estate Agent

Julie: Thanks for stopping by and leaving a comment here!

Dionne: Here the lots are postage stamp size. But for me, that was a bonus. With 4 kids and husband that is gone, I have to maintain the yard! So smaller is better! hehe.

Mar 21, 2008 10:40 AM #6
Rainmaker
148,331
Tom Plant
WINEormous.com - Murrieta, CA
Christy - Thiks is excellent. The incentives builders are giving now are crazy. In this market a new home can be awfully attractive. Thanks for pointing out the potential pitfalls.
Mar 23, 2008 09:37 AM #7
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Hi Christy,
As with most things, each situation should be weighed on its own merit.  All new construction does not need be cookie cutter homes with no personalities.  I know we have a fantastic subdivision, Kingsbridge II in Hubert NC where no two houses are the same, the houses are well built and are very energy efficient.  
Mar 23, 2008 08:32 PM #8
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Rainer
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Christy Powers

Pooler, Savannah Real Estate Agent
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