New communities in Washington State are on the rise. Canterwood in Pierce County and McCormick Woods in the Kitsap County city of Port Orchard, for example, are adding excellent options for luxury home buyers.
Wondering if a newly built home is the right choice for you? Weigh the pros and cons here:
The advantages of new constructions
- Modern features and construction technologies make the home built to last.
With a new build, you gain peace of mind knowing that your home came together using modern technologies and building materials. They are also guaranteed to conform to current construction codes and regulations.
- You can help design the house as it is built.
Personalization is an excellent advantage you gain from buying a new build. While floor plans are typically fixed, you can work with your builder to select preferred finishes, fixtures, storage plans, and even color schemes.
- New homes are built with storage in mind.
New constructions are typically smaller lots, but they feature innovative storage solutions. Walk-in closets and flushed wall cabinets are common in practical, modern homes.
The disadvantages of new constructions
- You might have to wait a while.
No matter how excited you and your family might be, you may have to hold off on your move until a new construction is completely ready to accommodate you.
Even if you purchase a recently completed build, being among the first to move into the new neighborhood may not be the best option. It could be lonely for a while, and it might be inconvenient and distracting if construction is still ongoing around you.
- Lots are more compact.
While open floor plans are common in modern home interiors, new constructions tend to be built in close proximity with each other. Square footage for recreational spaces outside and around the house are often limited.
- Some structural defects only appear after the property is moved into.
Even the most meticulously built structures can have issues and defects. The good thing with new constructions is that you’re still covered by warranty, so it won’t cost you anything to get any problems fixed.
Expert tips for buying a new construction
If you’re already convinced about buying a new construction, these tips will help you make a smart purchase:
- Research about the area you’re eyeing.
Get to know your future neighborhood by reading about the area and dropping by to talk with current residents or business owners. Look into existing or planned homeowner association setups in the neighborhood, as well.
- Inquire about future development plans.
A future development project can ruin a great view in your home. Talk to the local government, your agent, and even your would-be neighbors about future development plans and existing zoning restrictions in your area.
- Get to know your developer, too.
Does your developer have a good reputation? How do they take care of customers after a sale? Learn as much as you can about the people responsible for building your new home before committing to any deal.
- Look for extended period mortgage terms.
Find a mortgage lender that offers terms that are longer than standard. The typical six-month duration may not be enough for a new construction to complete, and requesting an extension is a tiresome process.
- Protect your investment with regular inspections and warranties.
Schedule inspections for various phases of the construction process to spot and resolve any potential defects that can cause inconveniences when you move in. Negotiate warranty terms that cover both structural and craftsmanship issues.
Want to know more about emerging real estate opportunities in Washington? Talk to local real estate expert James Bergstrom at 360-566-2195. You may also email Homes@JBRealtorTeam.com.