The Positives and Negatives of Buying a Newly Built House

There is something to be said for walking into a recently built home and being welcomed in with that new home smell. When no one has lived in a residence before it feels like we can make it our own without much effort as only our energy will fill its walls. It is like a blank slate onto which we can put our very own decorative design.

While buying a new home is exciting, as with any property you are considering, you need to do your homework and educate yourselves before making an offer. If you are in the Okanagan and looking for a new build, the Penticton real estate market has homes for sale. Remember to keep these few things in mind when you are hunting.

Positives

1. Move In Ready

Often when buying an older home moving in on the closing date is not always an option because there are things needing to be repaired, re-painted or remodelled. When you purchase a new build all you have to do is move your stuff in and figure out where to put your furniture. Moving is a hassle no matter what, but with a new house it is typically less so.

2.First Owner

There is something to be said for being the first family to live in a home. The residence has no history and you are the first to tell its story. You don’t have to re-paint any rooms because you chose the colours for the walls. There are no foreign smells from the previous owners and you do not have to erase the old owner’s energy before bringing in your own.

3.Maintenance

You don’t have to worry about the age of the roof, the electrical or the hot water tank. The furnace is new as well as the fridge, stove and dishwasher. A young home means you won’t have to worry about such expenses for years. In an older house you have to factor these costs into your budget.

4.Energy Efficiency

Newer houses tend to be more energy efficient than those built in earlier decades. Many buyers expect their homes to be constructed with efficiency in mind so you can usually count on smaller utility bills and cozier homes. With an older home you can typically plan on spending more to heat or cool the residence. With today’s rising heating costs efficiency is a key factor when buying new.

5.Technology

Newer homes are often built with the latest technology already put in during construction. They are wired for internet and cable as well as with alarm systems and even at times speaker systems. As technology takes a firmer hold it is nice it’s constructed into the home. Gone are the days of getting an older home up to date. With a new one it is at your fingertips from day one.

Negatives

1.Higher Price Tag

One of the drawbacks of purchasing a new build is it comes with a higher price than an older house in the same area. While this may seem like a negative if you factor in the cost of repairs, remodelling and maintenance in an older house you may find the cost is offset in the long run.

2.Neighbourhoods

Unless you are tearing down an older home and building on a lot in an already established neighbourhood, you will generally find recently constructed houses in a new development are not close to schools or shops. Also you are unlikely to find large trees lining the streets as newer subdivisions are typically cleared for construction.

3.Less Charm

I am sure everyone has heard the term cookie-cutter in context to houses in a newly developed neighbourhood and this is often true. It is easier for contractors to build homes using fewer design plans so the homes do often look quite similar. While new houses are nice you often miss out on the charm and character an older property may offer you.

4.Lot Sizes

With property often at a premium lot sizes in new residential areas tend to be much smaller than those most older homes sit on. If you like a big yard you may find a newer home is not for you. The houses also often tend to be larger than properties built in earlier times so heating and cooling may be higher than expected. If you do not want a large home on a small lot you should consider an older build.

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