Why You Should Mainly Look At New Homes As A First-Time Buyer
Posted on: 2 April 2021
As a first-time homebuyer, it's daunting to look at all the houses on the market. There are new homes, existing homes, land (with or without homes), and everything in between. What should you look at as a first-time homebuyer?
The answer lies in your budget, mainly, but staying in your comfort zone with a house you can trust is also a wise idea. For this reason, you may want to consider new homes on the market. Learn what these homes are and why they should get your main attention when it comes to buying real estate.
You don't have to worry about the previous owner's care
When you buy a house, you buy all its previous owner's care issues as well. If the roof isn't sound or needs to be insulated, the water heater is broken or needs replacing in the future, or the carpet needs to be upgraded, you'll be responsible for these things, unless the current homeowner is willing to cover them as part of the home sale. This isn't always the likely case, unless a home won't appraise without the upgrades.
As a first-time homebuyer, it can be difficult to take on a mortgage for the first time. To make things easier, consider buying only among new homes instead; these are homes that are newly built with all-new appliances and fixtures, so you'll be the first homeowner and will know what you're really buying into.
You don't have to worry about neighborhood values as much
Often, new homes are built in new subdivisions or neighborhoods, which means all the homes in the area will have the same opportunity to increase the neighborhood values over time. This is important to you as a first-time homebuyer because you want to make sure your very first investment in a home is likely to pay off with equity built over time. Ask your real estate agent what the neighborhood values are and what new homes can bring to the table as far as equity.
You don't have to stick to how a house is designed
If you want to buy a home that you can customize in small ways, then look at new homes. New homes can be purchased prior to being finished, so the buyer can determine flooring and other things, and the landscape is often bare dirt, to be designed any way the homeowner wishes. For a first-time home, customizing your property can be a real benefit, something most new homes can give you to some degree.Share