If you are age 18 to 34, you and your friends may still be thinking about entering into the home buying market. Jonathan Smoke, Chief Economist for Realtor.com predicted that Millennials will buy one out of three homes in 2016.
Are you ready to be one of them? If so, it’s important to understand the pros and cons of buying a new home vs. buying an existing home. It may also be time to decide if you are ready to move from Renter to Home Buyer.
Buying a new home is likely to be one of the largest investments you will make in your life, and also one of the most exciting!
Here are five things you should know about buying new home construction.
1. Find a Great City
One of the first decisions is where you want to live. This is your chance to move into a neighborhood that meets your specific needs. Are you gravitating toward living somewhere quite but where you can walk, work and play? Enjoy the opportunity to meet fun, like-minded people in your area as well! Check out why Manchester, NH could be a great choice!
2. Don’t Discount Yourself
If you’ve had challenges with finances because of unemployment, high student loan debts or a low credit score, you can still buy a home. Get peace of mind and start the process by getting pre-approved.
3. Customize Floor Plans
You don’t need to love just a few things in your existing apartment or home and want to change the rest. It’s important to walk through existing homes with a critical eye and understand what you are looking for in your new home.
For an example, if you love entertaining, family out of town or need to keep an on the kids during food prep, you’ll love open concept living. New home construction allows you to customize your floor plans.
4. Leverage Flexible Spaces
We love flexible and opportunities to entertain family and friends. You may not want dedicated spaces, like a formal dining room. Instead, you can turn your dining room into a study. This is your chance to consider your needs and think outside the box!
5. Seek Low Maintenance
Just like leasing a car, you want your new home to be reliable and low maintenance. Each year, LaMontagne Builders attends a three-day event through the NAHB’s International Builders’ Show® (IBS). This allows us to learn of new home trends and build with cutting-edge building products. These new products and materials are selected with low maintenance in mind.
Also, keep in mind a new home means many large items are under warranty! You can have high efficiency, state-of-the-art systems and environmentally friendly appliances, all while being low maintenance.
Are you ready to check out that new home feel? Book a tour!