Many home buyers think resales are more affordable and just as suitable as a brand new home.
If this sounds like you, you may want to consider a few of the following points before you opt for any older home options.
New Home Warranty
Buying a brand new home ensures you're looked after. The 1-2-5-10 home warranty protects new homeowners by guaranteeing the main components of their home are of the current standard. This is an added benefit you just don’t get with an older resale home.
- Year One: The first year consists of coverage on any defects of the finishes like flooring, paint and trim.
- Year Two: Covers any labour and material defects with the heating, plumbing and electrical systems.
- Year Five: For up to five years, your home's envelope is protected from faulty workmanship or materials. This means the roof and the walls in particular.
- Year Ten: Load bearing structures (i.e. walls) are covered for up to ten years.
While a brand-new home may cost a little more up-front than a resale, you'll find that it more than pays for itself over time with running costs. Let's take a look at some of the ways a new home can save you money:
Older homes require more energy to heat and cool but newer homes offer energy efficient upgrades. For example, older homes often have outdated insulation, meaning you'll be running up your heat (and your bills) far more than necessary.
New homes are designed to lower your utility costs with energy efficient appliances. This means savings on your bills every month as well as doing what's right for the environment. Energy efficient washing machines, low flush toilets, and proper window treatments are some things you can expect to make a difference in your new home that you wouldn’t get from a resale.
As well as knowing that the structure of your house will be protected under warranty, when you buy a new home you can also be confident that because all your appliances are brand-new, you won't have to worry about repairing or replacing them for a long time. And if by chance an appliance does break, they're often covered under their own warranties anyway!
While its possible to get a resale home looking exactly the way you want it, you'll often have to spend time and money after you move in to get it just right. With a brand-new home, you can make sure everything's perfect before you move in, so you can get on with enjoying your new home without having to worry about when you're going to have to repaint the kitchen or remodel the bathroom.
Another benefit of a new home over a resale is that you'll know everything has been built up to modern safety standards. You can rest easy knowing that all the building materials have been made with up-to-date fire-resistant materials, the alarms are all brand-new, and the heating system meets modern safety regulations.
User-Friendly Square Footage
Many homeowners appreciate an open design concept but all homeowners appreciate a functional floor plan. With a resale home, you're likely to be looking at outdated layouts with more closed off spaces. New homes are built with modern family needs in mind and plenty of room to move about and entertain while still providing separate spaces and privacy.
You Get it Right the First Time
New homes are better for your wallet because you'll get exactly what you want with zero extra costs. Renovations can be time-consuming and expensive - not to mention, they often run over budget. So, rather than buy a home where you know you'll have to update the flooring, paint, countertops or cabinetry, why not buy a home that's already beautifully finished to your exact tastes? No work, no hassles.
Modern and Trendy Design Elements
Speaking of modern family needs, new homes come equipped with finishes and features that aren't as common to older homes. For example, higher cabinets, built-in islands, upper floor laundry, mudrooms and walk-through pantries. While these may seem like simple things, these features make your life much easier in the long run. Another concept very popular to new homes is the idea of a flex room. This means you can have designated added space to use however you like; whether it be for a playroom, home office or den. This is a feature a resale isn't likely to offer.
New Homes, New Communities, New Amenities
When you buy a new home in a new Edmonton community you can rest assured you'll have all the amenities you need nearby and more. Modern builders choose to build in well-thought-out developments that are sure to provide homeowners with everything from schools and shopping to green spaces and entertainment.
Most people will stay in their homes for a long time, but if you do ever decide to move, you'll be glad you bought a new home over a resale. When it comes to selling a home quickly and for a good price, a modern-looking five-year-old home with one previous owner and plenty of curb appeal is sure to be more attractive than a 25-year-old home with lots of past owners. A new home not only fits your needs better for the present, but it can also be a good investment for the future too.
Now that you know the perks of purchasing a brand new home versus an older one, you're better equipped to make the best decision for your next home purchase. Keep the above in mind during your search and you're sure to find the perfect home in no time.
*Originally posted July 26, 2017, updated January 4, 2019.