In this video we tell you the top reasons to avoid buying a new construction home and we also share all of the hidden expenses when buying a new build home. So if you are thinking about buying a new construction home definitely give this a watch first. Don’t get us wrong, we LOVE new construction and in fact we just closed on our own new build home too but there is no denying that new construction has its own set of issues.
The first part of this video we go over the 12 major cons related to building a new construction home. And the 2nd half of the video is dedicated to all of the hidden expenses when buying a new build home.
The cons include the price vs resale homes. How quickly the price can inflate with upgrades. Location compromises. Build time and delays. Timing regarding locking in your interest rate. You may have to move twice if you buy a new build home. Not every builder is a good builder. First come first served basis regarding lots. If you don’t build custom, you will likely be told “no” at some point. And lastly you have a diminished negotiating power with new construction homes.
Hidden costs of buying a new construction home include the lot premiums charged. You will need appliances that aren’t provided by the builder. Have extra money set aside for new furniture. If you want a fence you will have to pay for it yourself. Landscaping will likely be an additional cost after you close. You will probably want to paint some of the rooms and/or the whole house. The home won’t come with any window coverings.
So there you have it! Thanks for watching this video. Be sure to subscribe to our channel so you don’t miss any future videos!
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Jefferson Grove Real Estate
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11535 Nuckols Rd Suite E
Glen Allen, Va 23059
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