1. New homes appreciate more. Even though real estate currently is in a slump, history tells us that not only do homes appreciate, but the value of new homes tends to grow more than the value of used homes.
2. New homes cost less to operate. Maintaining a house can be expensive. Because everything in a new home is NEW, you will have fewer major repairs – things like roofs, furnaces, appliances, etc.
3. New homes are under warranty. Typically a new home has a builder warranty. This means that certain items in your home will be maintenance-cost-free for the length of that warranty (one-year for most items, 30 years or more for some items like roofs and siding).
4. You don’t pay for space you won’t use. With a new home, particularly a custom-built home designed for your specific lifestyle, you are building only the space you use. Take the cost per square foot (use $100 per foot as an easy benchmark) and determine what that extra unused square footage costs for not just mortgage, but also utilities, maintenance and real estate taxes.
5. New homes are designed for today. The way we live has changed over the years. We spend more time in the great room and less in a formal dining room. Kitchens have grown larger and become as much a gathering place as a cooking space. Closets are larger. Technology spaces are planned into the design.
6. New homes are tech friendly. New homes are built with the wiring required for today’s connected world.
7. New homes are “green.” Building codes and technology have greatly improved the energy efficiency of homes. New homes built in the Midwest after January 1, 2010, must have R-19 insulation in the walls, R-45 in the ceilings and low-e windows, as well as fully insulated basements.
8. New homes are healthier. New homes – unlike their older counterparts – no longer include asbestos or lead paint. Today’s plywood and particle board emit almost no formaldehyde.
9. New homes contain better products. The quality of many building products has dramatically increased. For example, the mechanicals – heating, air conditioning, ventilating, electrical systems, plumbing – available today are much superior to those in older homes.
10. A new home reflects your personal taste. When you build a new home, you can select the style of the cabinets, the material in the countertops, the tile and the flooring, the color of the walls, the type of hardware, the features of your appliances, etc., etc.
11. A new home in a new development offers better infrastructure. For example, a new home in Newport Cove, our waterfront community on the Chain O’ Lakes near Antioch, IL, is hooked up to a new sewer system, all the storm and sanitary sewers are new, the wells are new, the roads are new, the new cable and electrical wires are buried under ground.
12. A new home in a new development often has special amenities. The owners at Newport Cove can enjoy the community’s 8-acre private waterfront park, the community’s private marina, walking paths, picnic gazebo, wildflower gardens and other amenities.