New housing continues to be developed across the lower mainland. These homes have more benefits than ever before, which is enticing more buyers to lean towards purchasing new rather than a pre-existing home.
Many new homes are being built in subdivisions where each style of home is in unison with the rest and restrictions are made in order to maintain the property value. A developer chooses a location where home buyers want to live. They factor in what people in the area can afford, the amenities that people want, and home features that are sought after by the targeted market.
There are several advantages to buying a new home:
- Usually a deposit is required when you sign a contract for a new home. This allows
you to save money while the house is being built, then pay the balance of your deposit
when you move in.
- You can customize your home with the builder before the construction starts. This
includes choosing your countertops, cabinets, kitchen fixtures, lighting, paint colours
and other options in your home.
- You can also choose your floorplan. From the open concept to the traditional style
home; you can put in walk in closets, large laundry rooms, luxury master bathrooms,
double sided fireplaces, the list goes on.
- New homes will have all the latest and cost efficient technology when it comes to
appliances, plumbing, heating and air. You shouldn’t have to do any maintenance for
- New homes are often equipped with built in alarm systems, speakers systems, internet
wiring and cable. A much cleaner and neater look all around.
- There are usually incentives from the Government or Builder. Such as rebates or taxes cut which will save you money
While brand new sound great in theory, there are a few disadvantages to consider as well:
- Brand new homes can sometimes cost up to approximately 20% more than a similar
- All the beautiful amenities that were offered in the show home can add up. Upgrades
are marked up for the construction company’s profit and can end up being much more
- Many new developments are built away from necessary destinations like schools,
grocery stores and shopping centres.
- If you are one of the first to move in, keep in mind you will be living in a construction
zone for years to come.
- With all the forests being cut down for new development, there won’t be the quaint
tree-lined neighbourhood that an established neighbourhood has. This will take many
years to obtain.
- Most homes are being built on much small lots. Your next-door neighbour will be much
closer to you than you’d hoped for. Backyards and front yards are considerably smaller
than many pre-existing homes.
Although it may seem like new construction is the way to go, there are many lifestyle factors to consider prior to making the final decision. After all, you are not buying just a house, but a neighbourhood as well.
So with all this in mind before you buy new please call us and we can help you through everything. You should know all the costs and inclusions before you purchase.