Sure, we can go through the benefits of owning new homes: peace of mind, utilities costs, personalization, and insurance savings. But did you know that these benefits can add up to make your dream home cost less than settling for someone else’s dream. That’s true even though the existing house might come with a smaller initial price. When you’re building a new house, don’t overlook the long-term benefits and savings.
Here’s how it can work:
Make it your own
One of the benefits of building a new home is the ability to personalize. Your floor plan, building materials, countertops, cabinets, and other features all fall under your control. While you may believe that this is the more expensive option, personalizing a new home can be cost-effective because you can avoid costly renovations in the future.
Risk and reward
Newly built homes involve fewer risks and therefore can earn you greater rewards in the long run. New systems such as plumbing, electrical, and HVAC, are less likely to malfunction and cause damage to your home. That’s why homes with newer systems can earn owners preferred home insurance policies with lower premiums. The amount you save monthly could add up long-term.
Along with savings, another benefit is security. Elizabeth Sims, a representative for Beazer Homes, one of the nation’s top home building companies, elaborates on the topic: “Homebuyers shouldn’t underestimate the value of peace of mind that is possible with new construction. New home builders, such as Beazer, may offer warranties that aren’t possible with existing homes as well as the ability for owners to get what they want the first go around with floor-plan options, like Beazer’s Choice Plans, without the need for a remodel.”
Another source of long-term savings from a new home: utilities costs. In fact, “because most new homes utilize the latest energy efficient building systems and technology, energy savings are significant over the life of your new home,” Beazer’s Sims says.
New homes save in energy costs in two ways. The first is with a tighter seal on heated and cooled air. Typically, newer homes don’t have as many energy-expensive cracks and crevices as older homes and can save up to 20% in annual energy costs. Another way that newer homes save energy: better appliances. ENERGY STAR certified appliances, for example, can save homeowners on monthly energy and water bills.
New homes have many long term advantages. From peace of mind to monthly savings, you could end up paying less for the house of your dreams. “When you consider the long term savings from energy efficiency and decreased repair & remodel expenses, new homes are more cost effective than existing homes,” Sims says.
Home insurance providers care about risks and how they correlate to claims. With lower risks come lower premiums for insurance, and that can really add up.