Reasons to Purchase a Brand New vs Resale Home

Close to half of all Americans, just over 40%, state that they prefer a newly constructed home over an existing one. While there are many benefits to shopping on the real estate market to find good deals and some that are for sale below market value. There are also be homes on the market that likely may be recently built and are still the quality of brand new homes.

Benefits to Building or Buying Brand New Homes

While the financial benefits may vary from state to state, there are a number of reasons to buy brand new homes. There is the obvious factor of incredible appearance along with new appliances and utilities, without the need for upgrades or updates immediately upon purchasing. One of the most common financial benefits of buying a new home exists in the taxes. Some tax benefits applicable to brand new homes include:

  • Taxes on a new home are usually much lower during the first one to two years
  • Florida is one state where the determination of residence for your new home provides a property tax value exemption

Another Option: Construction of a New Home

With the desire to have a new home or at least a home of your own, there is the question of choosing a construction company or a home builder. While only 30% of Americans state that the reason to buy a home is to own a home of their own, there is much more to say for people who are looking for new homes. New home builders tend to have the latest model of appliances already in the home, saving the need for those updates and installation costs.

However, the questions of a quality home that may be slightly older, along with the ability to find savings in some simple remodeling projects to have a home looking and working like new. So, the evaluation of what you are looking for, the neighborhood or town where you would like to live, and overall consideration of all your home needs are important, even more so than simply looking for the latest construction of new homes that have been presented and promoted to the public.

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