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For what purpose - to live in personally or for a rental?
It potentially makes a difference in the quality of materials selected for the build.
Coach
I think the most upside is to be an early buyer in a new community. The general public doesn't have the vision or the patience to picture what the finished community Will look like nor endure the time it takes for it all to get built. I, personally, hate new construction. I like plaster walls, varnished old growth base boards, radiators, and pink/green subway tile.
That’s hard to find in the west.
I bought new construction 25 years ago. We were line of the last sections of our community that had a 10 year build out. We haven’t had any significant home issues although multiple neighbors have had issues with plastic pipes in the walls leaking. After 25 years, the ovens are the only appliances that we haven’t replaced. We did have a roof leak at ~18 years and found that the multiple metal roof vents had cracked and were allowing water in. Also we spent a lot on back yard landscaping after we bought. 25 years ago we paid ~$450k for our house and landscaping was like $100k. Our lot has up slope and we have ~200ft of retaining walls over two tiers. We took out a second to pay for it. It’s nice now to have large trees on the property. I think we have some of the best trees in the neighborhood.
Yeah, it’s about $1.7M today. If you buy new construction and have a large lot, hire someone to do landscape design. I love our California Sycamores they are 30-40’ now. So glad we didn’t put in palm trees.
It’s definitely a preference. However, if your biggest concern is just owning right now then I highly recommend it. Many of the builders are offering 3.5% - 4.5% interest rates either as an introductory rate (first year or 30 year fixed). This is definitely the lowest rate you can get right now and most of the new builds are in growing areas. This can get you in a great area at a lower monthly payment especially because resale inventory is still low in my area so it’s not like there are great deals in that category.
I would love to buy me a new house or condo. I will feel good about myself if I could buy me a new house I will love it because landlord don't come and fix there house and I'm sick of it. I wish I can buy a 4 bedroom and 2-3 bathroom
Yeah I’m not sure I like new construction.
Kindly contact me if there is need for funding.
jacewilliams.sbc@gmail.com