It comes as no surprise that new homes (new condos) typically sell at a higher price per square foot than re-sale homes. Cost is often a big factor when individuals and families opt to purchase re-sale homes instead of building their own. There are many benefits to building your own home, the most obvious; you will own the home of your dreams. From the colour of the wood floors to the number of bathrooms, you can customize everything when you work with a home builder.
Did you know that there are a number of other great benefits to new homes (new condos)? There are dozens of little known benefits that you gain by having a home built! Some of these benefits include:
1. More financing options: A number of larger home builders actually have their own mortgage companies. While it is not mandatory to finance a new home with a builder’s mortgage company, new homes (new condos) can be less expensive with the better financing options available with the builders’ representative. Even if you decide to mortgage your home with a bank or other lender, having more options available for financing is a good thing! Research, research, you never know which company will give you the best options for your needs.
2. Improved fire safety: Consider how much technology has changed in the last twenty, ten, five years. Example; compare the cell phone you owned in the late 90’s to the cell phone you currently own. Fire safety technology has likewise improved by leaps and bounds. New homes (new condos) have built in fire safety technology like fire retardant carpeting and insulation. These products were not available years ago and are not available in many re-sale homes. New custom built homes most often have hard-wired smoke detectors that provide better protection than old battery-operated smoke detectors which can fail if the batteries run out, leaving your home unprotected.