MAY BLOG: 5 REASONS WHY I BOUGHT A PRE-CONSTRUCTION HOME!
Thanks in advance for reading the blog and following my homeownership journey.
If you're new, here is what you've missed-
a) Spent the last year saving for our down payment
b) Worked with a realtor and broker to see our options (type of home we can afford, locations, how much we need to save and more)
c) Toured a few homes and realized we where not ready to move in at least for another year
d) Found a new build that I had seen in the past but ignored
e) Signed for the new build and officially owned the home on my 26th birthday.
All in all, we decided that a new construction was perfect for us, in our journey and timeline for moving in and meeting our goals. Here are some reasons we decided to go with this option and not purchase an older home. Hope this helps you make an informed decision if you are currently searching for a home. Also, please let me know if you would like me to dive in on some of the negatives and cons of purchasing a new build construction home.
Time
The main luxury of purchasing our new build was timing. We knew we didn't want to move in for at least a year. This gave us a lot of time to save, reach some personal goals and stick to our timeline. We are also able to capitalize on current prices (lower than they might be in a few years).
Savings
The luxury of time gave us the opportunity to save more than expected. We anticipate to save 3x more than we planned. This gives us the option to invest in new furniture, buy new cars and upgrade our floor plan!
Customizations
A great part of a new build home is the ability to customize most of your home. From window sizes, exterior build, flooring, number of rooms and more. You have the power to make changes to the basic model which is great for someone like me who is super picky.
Warranty
On top of your customizations, you have warranty that comes through your builder. This ranges depending on your contract and builder but we have 7-10 years of warranty on most interior and exterior issues that may arise once we move in.
Location Inventory
Lastly, we explored various locations in the GTA and the area we were interested in didn't have many homes available. This new build came about and we knew we were sure this location was best for us. It was perfect timing and the location we really want to live and grow in.
Hope you enjoyed!