So you're in the market for a new home, but you're unsure of whether to buy or build. We've been there before! Deciding whether to buy or build your new home is a major decision that will impact your life and your financial situation for years to come. Lucky for you, The Keri Shull Team has helped hundreds of clients make the right decision for their families.
Today's Buyer Education piece is brought to you from the advice of Lauren Longshore, one of our top-performing Buyer Success Agents who has helped over 50 families find the perfect home. Lauren is an experienced buyer advocate and an expert on new construction, and she shared the following insight into how buyers can best decide whether to build or buy.
There are a number of benefits that come with selecting a lot, tearing down any existing construction, and building your new home from the ground up. The most obvious benefit is that your new home can be almost 100% customized to your tastes, budget, and lifestyle! Need a bedroom close to your young children? Wide open spaces for your beloved Black Lab? A spacious kitchen for your husband to realize his dream of becoming the next Gordon Ramsay? This will be as easy as having a meeting with your contractor before they draw up the floor plan.
In addition, your new home can be outfitted with modern, energy-saving appliances and A/C systems, saving you money on repairs and maintenance and reducing your carbon footprint!
Some of the benefits of new construction homes are not so obvious, however. Most people aren't aware that new construction homes are taxed substantially less. You'll pay the least amount of property tax among most home owners because home taxes are based on the value of your home the year before it was purchased. Since your new construction home didn’t exist before you bought it, you will likely enjoy a tax break anywhere from a few months up to a few years.
Finally, your home can be brand new and built to the strictest safety requirements during construction. There are state-of-the art circuit breakers, electric garage door openers that can detect when a child or object is too close to the door, as well as carpet and paint that blocks out volatile organic compounds. Buy a new construction home and get the benefit of knowing your house is protected for years to come.
Or Not To Build?
What About Buying?
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While searching for a real estate team to help you sell your home, ask any agent you meet whether they have guarantee programs that can give you some peace of mind on selling your home within the timeframe you need.
If you — or anyone you know — is looking to buy or sell a property anywhere in the DMV, call us! We offer a unique Move Up Buyer Guarantee. Move up to any of our listings and we’ll sell your home for FREE!
Visit our Move-Up Buyer Guarantee page for more details.