1. YOUR HOUSE, YOUR WAY
When you buy a new house, as opposed to purchasing a resale, you have the ability to customize it any way you want. Floor plan, features and finishes that best suit your tastes, lifestyle, family and budget are all yours for the choosing.
2. BUILDING NEW IS CHEAPER THAN REMODELING
Many of the upgrades and improvements that most people want in their homes often come standard in today's new construction. Higher ceilings, taller doors, larger upper cabinets in the kitchen, granite counters, stainless steel appliances, wood floors, and more are all available to you. Building new allows you to prewire for computers and audio/video equipment to meet all of today and tomorrow's technology demands.
3. NEVER A BETTER TIME
Due to the current economic situation there has never been a better time to build a new house than today. Costs for labor and materials are lower today than what they were 5 years ago. Contractors and suppliers who are not as busy are willing to make deals. In addition, projects are being completed in considerably less time; even permitting is faster! Faster construction can save you money and get you settled into your new dream home in record time.
4. LOT PRICES ARE DEPRESSED
With real estate prices down, properties can be found that make building a new home make sense. Properties in some areas are being sold for 30%-50% less than 5 years ago. These reduced prices can often times allow you to buy a property, knock it down and build a new home whose total cost may be less than what your neighbor purchased his home for a few years ago.
5. PROTECTING YOUR FAMILY AND YOUR INVESTMENT
New homes today are built to a much more stringent building code than ever before. Changes made to the code over the last 5-10 years insure that new homes weather storms much better and will save you money. Impact-windows and shutters are only a portion of these changes. Changes in the design of the structure and the way roof tiles are installed all translate to a better quality home that will not only protect your family's safety in a storm, but also leave you with less damage to repair after the storm. In addition, to storm safety, high impact windows and new updated alarm systems help deter break ins. All of these factor lead to significantly reduced home owner's insurance premiums.
6. LOWER MONTHLY COSTS
Homes built today are much more energy efficient due to better insulation options, more efficient air conditioning systems, modern appliances, low voltage lighting choices and so much more. For example, a 30 year old, 4000 square foot home with a 2 zone a/c system cost almost $700 per month for electric during the summer months. A brand new, 6500 square foot home with all of the new bells and whistles averaged only $500 per month! In addition, as stated above, new homes with modern construction are eligible for many insurance discounts.
7. LOWER MAINTENANCE COSTS
Obviously a new home is less likely to have routine maintenance problems than an old home. However, by using today's more advanced and improved building materials, chances are it will be many more years before you will need to repaint, repair stucco, replace a roof, upgrade plumbing or electric, etc.
8. TAX SAVINGS.
Mortgage interest and property tax may be deducted from your income taxes making owning a home one of the best tax shelters available today. Another advantage to home ownership comes when you sell it. The first $250,000 profit (if you're single) and $500,000 profit (if you're married) is tax-free! This is a considerable advantage when you consider that taxes must be paid annually on the interest/profit you make from savings deposits and most other investments. Even IRA's are eventually taxed.
9. OWNING IS LESS EXPENSIVE THAN RENTING
Instead of throwing money away on rent and helping your landlord pay
off his mortgage, take advantage of the current market's specially priced financing incentives and special mortgage programs as well as the record low interest rates that are readily available in the marketplace. If you're a first time buyer, than you are at an even greater advantage.
10. INVESTING IN YOUR FUTURE
The longer you own a home, the more you pay toward the principal of your mortgage decreasing the amount you owe to the lender. As equity builds, you create more wealth for yourself and your family. Even with the inevitable ups and downs of any market, the long-term equity you earn through real estate is almost always greater that what you can earn from any other investment especially when you factor risk into the equation.
11. WHO DOESNT WANT A NEW HOME?
There's nothing like the smell, look and feel of a new home in which
everything is sparkling, working properly, and conducive to relaxing and entertaining in style. More than just a place to live, our homes are our refuge
from a busy and stressful world. Knowing that you can do whatever you desire to make your home your own personal retreat or sanctuary, without having to get the permission of a landlord, can be an empowering feeling. And doing so without the restriction of an existing structure can make your new home, your Eden.
If you are interested in building a new home, please call Ian Koolik of NMB Custom Homes & Renovations at 561-883-1576. Ian is a Florida licensed general contractor who specializes in new home construction in infill communities. Ian can help you identify properties that may be potential "knock-downs" and work with you to design and build your new home in a comfortable, easy and efficient manner.