There are several different avenues to becoming a homeowner or property investor. For example, you can purchase a luxury property with an illustrious history. Or invest in a modest home that’s seen a couple of generations from the same family. Or buy a run-down property and flip it for a profit.
Or you can do something that many new homeowners and real estate investors elect to do these days. You can purchase a brand-new property – what we in the industry call a “new construction.”
What is a New Construction?
If you’re currently in the process of buying or investing in new property, “new construction” is a term you might hear thrown around. But what does it mean?
In the simplest terms, a “new construction” is exactly what it sounds like. It’s a property that is currently being developed or was just recently built. These homes have never been lived in, meaning you would be the first actual owner. And you typically purchase them directly from a home builder or developer.
6 Benefits of Buying a New Construction Home
There’s an old adage that says that you shouldn’t buy a new car because its value depreciates as soon as you drive it off the lot. Fortunately, the same cannot be said for buying a new home. Though there’s no guarantee that your property value will increase over time (that has more to do with the state of the market than the actual home), it won’t depreciate the second you move in, either.
That said, there are plenty of excellent reasons to consider investing in newly constructed properties. Here are six key advantages of buying a new construction.
1. Prime Locations
New constructions are often built or developed in new, up-and-coming areas. So, when you purchase a new construction, you also get access to great restaurants, high-performing school districts, and low crime rates. Simply put, the newer the home, the better and safer the location.
2. The Latest and Greatest Features
New constructions also come with the latest and greatest features. That means you won’t have to invest extra money in upgrades or new appliances. The new property will come with everything you need and more, and all of it will be brand-new!
3. New Appliances and Warranties
That includes brand-new appliances, though that’s not even the best part. When you get new appliances, you also get brand-new warranties. Instead of buying a home full of appliances with a decade of hard use, why not buy new?
4. Low Maintenance (or No Maintenance)
And since everything is so new, there’s also very little maintenance you have to perform (if any). This is one of the best selling points for new constructions because maintenance costs can really add up. Buying a newly constructed property essentially saves you money.
5. Customization Options
If you get in early, some builders will even allow you to make special requests or customize your floorplan. You can request extra rooms, larger spaces, and even ask for energy-efficient upgrades. That’s a rare opportunity that few people experience, so it’s definitely a significant benefit.
6. Community-Based Amenities
Many new construction homes are built in developing communities. And many communities offer amenities that are exclusive to their residents. So, if you’re able to snag a new construction in an up-and-coming neighborhood, you could end up with access to tons of incredible amenities!
Buy a New Construction Property Today!
Are you interested in buying new construction in St. Augustine or anywhere in Northeast Florida? If so, contact the Welch Team today! Our team of dedicated real estate experts would be happy to help you find the home of your dreams.
And if you’re looking for a new home, don’t forget to pick up our free buyer’s guide!