Conventional wisdom says that a pre-existing home is a more economical purchase, but when taking all factors into consideration, a new home may actually make more economic sense. While a custom or semi-custom home is likely to cost more initially, keep in mind these six reasons why working with a home builder to design your next Colorado home may be more practical than you think.
1. Customization
Building a new home affords the greatest opportunity to live in a home that truly meets your specific needs and tastes. As a participant in the design process, you have input in layout, materials and colors. Even with a semi-custom home, or a home in a new development, buyers can typically choose flooring, paint colors, and even the lot.
2. You get exactly what you want, and nothing you don’t
Purchasing an existing home often involves compromises–a willingness to live with or without certain elements, at least in the short term, because a home generally meets your requirements. As a result, you either end up never having exactly what you want, or spending additional money to remodel. Why pay for extra space that you’ll never use, or settle for too little space in an area where you spend lots of time? With a new home, you don’t have to live with someone else’s design choices that don’t meet your needs or reflect your personality and lifestyle.
3. Lower maintenance
New homes are engineered, in part, to minimize maintenance. The latest building practices take busy lifestyles into consideration, acknowledging that people want to enjoy their homes rather than spend all their time dealing with upkeep. Additionally, new homes include modern features designed with safety and durability in mind. When considering the maintenance cost of an older home versus a new home, the new home becomes much more affordable.
4. Energy efficiency
State-of-the-art design and materials used in new construction provide a much higher energy-efficiency rating than that typically found in older homes. Consider also such items as the appliances, furnace, air conditioner, and hot water heater; new homes are generally equipped with the most energy-efficient models, which greatly impact the operating costs of a home. Retrofitting these items in an existing home–though doable–can be quite costly up front, making it difficult to justify the purchase on eventual cost savings.
5. Modern floor plans
Older homes tend to have segmented living areas that don’t reflect how today’s families operate. Newer homes often have open, connected spaces that flow into one another with more and larger windows to increase natural light. These elements enhance family interaction.
6. Warranty
New homes ordinarily come with a warranty that covers building defects, like a leaky roof, as well as repair or replacement of other components such as appliances. This is important because problems can surface over time, not just during the home inspection.