Investing in a new home versus a fixer-upper—which is right for you? Building a new home is an investment that will benefit you for years to come. With a higher resale value, less maintenance, and updated amenities, a new and customized home has a lot to offer.
Houses built today must meet specific code standards for energy efficiency. Living in a new house means less energy consumption. Whereas older houses were built in a time with much lower standards. With tighter codes and higher standards, new houses have the ability to expend less energy and save us money. Plus, they are better for the environment!
Saving in Renovation Costs
A new house by definition is new—meaning everything in it is new! Purchasing an existing house means purchasing its history and its problems. Some of which may not be revealed to you before you invest. There can be costly repercussions of unseen and unknown problems. Renovation and repairs can add up quickly and ruin what once seemed like a valuable option. You may be unknowingly purchasing more of a money pit than a home. There is less risk with a new home that is untouched and clean. You know exactly what you’re getting into.
Wiring is just one of the many problems that can come with an outdated home. With new technology and advancements, outdated wiring in a house can be costly to fix and a pain to deal with. Besides avoiding the dealing with the hassle of outdated wiring and technology, new homes also provide the opportunity to incorporate new technology into your house.
A Better Investment
Though building a new home may cost more upfront, it can be a better investment in the long run as you avoid renovating and repair costs, save on energy bills, and have a higher resale value. At some point, you will likely be selling your home. A newer home with less wear and tear will have more value than an older home, no matter the renovations.