Pros and Cons of Purchasing a New Construction Home in Summerville, SC
Summerville, South Carolina, with its charming small-town ambiance and close proximity to the historical city of Charleston, has become a sought-after destination for homebuyers. The city is known for its historic charm and natural beauty and is an appealing destination for homeowners seeking a serene and welcoming community. For prospective homebuyers, the choice between purchasing an existing home or a new construction property is often an important decision. The Summerville area is booming with new construction growth which include several large master planned communities like Nexton, Cane Bay, Summer’s Corner and others. This blog will cover some important pros and cons of purchasing new construction in neighborhoods such as these.
Pros of Purchasing a New Construction Home:
Customization Options: One of the significant advantages of buying a new construction home is the ability to customize it according to your preferences. Depending on what phase of the process you get under contract, you can choose your lot and floor plan. In addition, builders often offer a range of options for finishes, fixtures, and layouts, allowing you to create a space that reflects your personal style and needs. From selecting the flooring materials to choosing kitchen cabinets, you have the opportunity to make your dream home a reality.
Modern Amenities and Energy Efficiency: New construction homes are designed to meet the latest building codes and energy efficiency standards. They often come equipped with state-of-the-art appliances, advanced HVAC systems, energy-efficient windows, and high-quality insulation, resulting in lower utility bills and a reduced environmental footprint. Additionally, modern preferences like open floor plans and smart home systems are more likely to be included in new construction home plans.
Reduced Maintenance: With a new construction home, you can enjoy the benefits of living in a property that requires minimal maintenance. Everything from the roof, plumbing, and electrical systems is brand new, reducing the likelihood of major repairs or replacements in the early years of homeownership. This can save you both time and money, providing peace of mind.
Warranty Protection: New construction homes typically come with warranties provided by the builder that cover various components and systems. These warranties can offer reassurance and financial protection against any unexpected issues that may arise shortly after moving into your new home. Builders often provide warranties for structural elements, appliances, and workmanship, offering added security and confidence in your investment. Details of the warranties provided should be included in your purchase contract, it is important that you understand these and keep record of these.
Increased Home Values: Home prices of new homes tend to hold their value well and if you are one of the first homes completed in your new neighborhood, your home’s worth may actually increase. Builders typically discount their first phases of a new construction community. In addition, as the neighborhood develops and amenities are completed home prices naturally increase.
Community Amenities: New construction developments often come with planned community amenities such as parks, playgrounds, walking trails, swimming pools, and fitness centers. These amenities enhance your quality of life and provide opportunities for recreation and socializing within your community.
Cons of Purchasing a New Construction Home:
Increased Sales Price with less negotiating power: On average, new construction homes cost more than pre-owned homes. In addition, builders typically have set prices with little to no room to negotiate. When purchasing a pre-owned home, you are dealing with current home owners who have motivation to sale and thus motivation negotiate not only price but other terms in the sales contract.
Time to Build: Unless you buy a speck home the builder has already completed, new construction takes time to build. There’s permitting that has to be completed in addition to the actual build time. On average, new construction homes can take 6-12 months to build.
Construction Delays: Building a new home involves numerous factors that can lead to delays in the construction process. Weather conditions, labor shortages, or permit issues are just a few potential challenges that can impact the completion date of your home. It's important to have realistic expectations and be prepared for possible delays when purchasing a new construction property.
Limited Established Amenities and Infrastructure: New developments may take time to establish community amenities such as parks, recreational facilities, or shopping centers. It's important to consider whether the lack of these amenities in the immediate vicinity aligns with your lifestyle and preferences. Additionally, new construction neighborhoods may lack mature trees or green spaces that established areas offer.
Uncertain Surrounding Environment: When purchasing a new construction home, you might face some uncertainty regarding the long-term character of the neighborhood as a whole. As the area continues to develop, the dynamics could change, including the types of homes being built, commercial developments, or changes in zoning regulations. It's crucial to research the future plans for the area and assess how they align with your vision for your home and community.
Potential for Post-Construction Issues: While new construction homes come with warranties, there is still a chance of encountering post-construction issues. Construction defects or flaws might arise after moving in, requiring attention and resolution from the builder. Dealing with these issues can be time-consuming and frustrating, potentially disrupting the enjoyment of your new home.
Purchasing a new construction home offers numerous advantages such as customization options, modern amenities, and reduced maintenance. However, it's essential to consider the potential drawbacks, including construction delays, limited established amenities, uncertain surroundings, and the possibility of post-construction issues.
Having a realtor before you start the process of considering a new construction home is imperative. With many new construction builders, if you do not identify that you are working with a realtor on your initial contact with them, you waive your right to have your own representation. This means that even casually walking into a model home and not disclosing you are working with a realtor, could mean you will not be able to use a realtor to purchase a home in that community. The builder’s agents work for the builder and will not fight for best interest. Having your own realtor in a new construction transaction does not cost you money. Not having a realtor only saves the builder money and can cause you undue stress! Reach out to us if interested in a new construction home. We’d love to show you some of these amazing communities and what they have to offer.
