8 Myths About New Construction Homes — Debunked

8 Myths About New Construction Homes — Debunked

While many prospective buyers like the idea of being the first owners of a newly built home to imprint their personality on it and to make lasting memories there, some shy away from new construction. Fears about the process or the cost are common, along with other misconceptions that can inadvertently lead them astray or to view only resale properties as a viable option. “New construction is not always more expensive,” says Cliff Stahl, vice president of national sales training for Meritage Homes. “Home builders work hard to be competitive in today’s marketplace, along with offering a variety of options to help first-time buyers find their dream home at the right price.” Here are eight common misconceptions homebuyers can have about new construction homes.

Have any of these crossed your mind? Read on to separate the myth from reality.

Myth 1: Newly Built Homes Cost More Than Resale Properties

Fact: While the base price of new homes sometimes costs more than a resale, buyers need to consider the full operating costs of both types of homes.

“You get better value with new construction, especially because you don’t have to budget for a new air conditioner, which costs $6,000 to $8,000 or a new roof,” says Lynn Charlas White, a broker assistant with Coldwell Banker Residential Brokerage in Naples, Fla.

Not only is everything new, but you also get a warranty with a new home. Buyers should also assess the energy cost of a home when comparing homes, according to Stahl. A savings of even $60 on your monthly energy bill can roughly equate to improving your purchasing power