If you’re a first-time home buyer, it might be tempting to compare buying a home to buying a vehicle.
Homes and vehicles are big-ticket purchases and most of us know a used (or pre-owned) vehicle is cheaper than one off the showroom floor. The same seems true for homes, except that a new-construction home can be a smarter purchase in today’s residential real estate market thanks to several important factors.
The United States is in a longterm housing shortage, which means builders are busier than ever. First-time home buyers have more new-build options than perhaps in the past, and more choices too.
In today’s market, new single-family homes in versatile sizes and roomy townhomes can be great solutions for first-time buyers. And master-planned communities like those developed by ICI Homes also offer value-added resident amenities.
Here’s more on why new construction can be a winner for first-time buyers.
Key Takeaways
New-construction homes give first-time buyers a fresh start with personalized design selections and no previous owner modifications to undo.
Everything is brand new, including appliances, HVAC systems, lighting, internet infrastructure, and landscaping, reducing the likelihood of unexpected repair costs.
New homes include warranties that provide added peace of mind and protection compared to most resale homes.
Modern construction standards and energy-efficient features can help lower utility costs and improve long-term value.
Builder incentives such as mortgage-rate buydowns, design center credits, and closing cost assistance can make homeownership more attainable for first-time buyers.
New home, all you
No one else has lived here. There’s no unfortunate interior design you must live with or erase. You’ve chosen all your design materials and elements ahead of time, and now all you have to do is enjoy them.
With a resale — even a renovated one or flip — its appearance still might not jive with your tastes. Which means renovation costs in addition to new mortgage, closing and furnishings costs.
Which brings us to…
New home, new everything
While repairs and renovations can lurk with resale homes, there’s no such thing with a new-construction home.
Its mechanical systems, lighting, heating and air conditioning, fiber internet, appliances, landscaping and perhaps outdoor living spaces such as swimming pools and fire pits are new.
All have warranties to go with them. Plus, every new ICI Homes home comes with an extensive HBW 2-10 warranty which covers workmanship, systems and structural elements.
There’s no such thing with a resale home.
That great-deal resale may soon need a new roof or (insert costly problematic repair here). Buying it may be tempting, but there’s always the risk you’ll eventually pay more for it down the road.
Energy-efficient from the start
Similarly, ICI Homes’ new homes are built to our own EQ Factor standards. This means the latest construction materials and techniques, more airtight interiors, and energy-efficient appliances.
This also eliminates worry over resales’ creep-up problems and costs.
Builder incentives
This can be the deciding factor for many first-time buyers. Builders like ICI Homes must sell new homes and first-time buyers usually need all the cash flow they can find.
Many of us have been there!
A mortgage-rate buy down is one example of a builder incentive. It lowers the interest rate on a mortgage (and resulting monthly payments) as long as the buyer(s) work through the builder’s preferred lender.
Another incentive is significant credits at the ICI Homes Design Center, which helps buyers customize their design choices. Yet another is builder assistance with closing costs.
Ready for your new custom Florida home? Talk to ICI Homes here.
