1. Appreciation in Used Homes is gone - The median home value in Florida for a used home is $156,500. Florida used home values have gone up 13.2% over the past year and Zillow predicts they will rise 4.7% within the next year. The median list price for a used home in Florida is $120 a sq ft. While many builders can offer you a single family home for comparable per sq. ft. price
2. Warranty – Many people are skeptical of builder warranties but here are a few items that you need to be aware of the replacement costs and the life expectancies that you may need to consider if buying an existing home –
Roof (15-25 Years) replacement costs $10,000-$20,000
Windows (15-20 Years) Replacement Costs $400-750 per window
Appliances (6-15 Years) Replacement costs vary by appliance
Flooring (8-10 years with Maintenance) $500-$1,000 per room
A/C (10-15 Years) $2,800 - $4500 per unit
Also visit http://thenewhomespot.com/life-exectancy-for-contents/ for a complete list of life expectancies
3. Personalize your home - Why settle for someone else's choices when you can select your favorite cabinets, countertops, appliances, carpets and flooring? While you're at it, you can choose gorgeous bath and kitchen fixtures, lighting and other options that you love. Your new home will reflect your style, not someone else's taste.
4. Builders are dealing (Concessions) - especially in today’s sluggish housing market, buyers could squeeze more concessions out of a homebuilding company than an individual seller. That’s because individual sellers often have an emotional attachment to their property that can blind them to its true value. Please sign up for our email list at http://thenewhomespot.com/builder-special-incentives/ to receive the most up to date concessions from all the area builders.
“People usually think that their home is worth more money than it is, at the same time, builders often have greater financial wherewithal to absorb a loss on a sale than individuals.
I’ll put it to you this way: A $30,000 hit [spread] over 30 lots hurts a lot less than a $30,000 hit on one existing house,” says Christopher Rachuba of Rachuba Home Builders, based in Eldersburg, Md. “So I think [buyers] may get more bargaining [power] that way.”
5. Financing - New-home buyers can take advantage of mortgage-financing perks available through their builder. New-home builders — in many cases, the larger ones — have their own mortgage companies, or they will offer paying points or closing costs and buy down certain rates for you. The seller of a resale home is generally not going to do that for the buyer.
6. Financing the improvements – One of the most attractive things about buying a new home is having the option to role your improvements into the loan whereas buying an existing home that is in need of repair, would require you to pay cash for any improvements. Many people would argue that paying cash for upgrades is a good idea, however with rates at historical lows - I’ll let you be the judge:
Example of Improvements: 40,000 upgrades X 4.5% interest = $150 a month
7. The New Home Smell That New Home Feel: A used home was someone else's dream, not yours. It reflects their choices and family memories. You may learn to love avocado-green appliances (and you may be willing to scrub stained countertops or grease-encrusted ovens and cooktops) but more and more people prefer that never lived-in feel. After all, when was the last time you went to a department store and selected used clothes? Or visited a car dealer and paid more for a used car than a new car? New homes offer the latest designs, style, comfort and quality. They provide a care-free lifestyle so that you can enjoy your home, not work on it. Start your new home search on www.thenewhomespot.com
8. Getting the floor plan for your lifestyle - Want a master bedroom on the first floor? It's yours. With massive his and her walk-in closets? Done! Want high ceilings and a luxurious, resort-style master bath? Perhaps you'd like a sitting room with a fireplace in your owner's suite or French doors that open to your private patio or the pool? It's easy, when you build your home, your way. Builders offer so many variations of floor plans today that checking off the items on your list is generally a very easy thing to do.
9. Variety – One of the most exiting things about looking for a new construction home is matching community, floor plans, and location to choose the right property for you. In addition to that the choices you get regarding the elevation of your home, whether you want a pool or maybe you are looking for a water view. The beauty of buying new is you get what YOU WANT, WHERE YOU WANT IT not what someone else has already dreamed up.