Posted on Nov 10, 2020 in Blog
We understand that as a first-time buyer, home affordability is top priority. For this reason, you might be tempted to buy an older “fixer upper”, thinking it will be a great way to save. While this may be true in some cases, more often than not, first time owners find themselves shelling out thousands more than anticipated.
Instead of taking on the time, stress and expense often associated with previously owned properties, why not consider buying a new construction home? Not only are they affordable but they come with several unique advantages that you just won’t find in a resale.
Here a just a few of the many new build perks to consider as a first-time buyer:
1. You’re Eligible For Help
Did you know, there are a variety of first-time home buyer programs in Canada geared towards helping you buy your first home? Not only do these programs make purchasing more affordable, but some of these incentives apply specifically to new home builds. Click on any of the links below to see which first-time buyer initiatives you qualify for:
2. They’re Customizable…
One of the best parts about buying brand new? Your home, your way! In working with a reputable custom builder, especially, you’ll have the opportunity to choose everything from your floor plan to your finishes (right down to the very last detail). Unlike an older home that’s been built to someone else’s tastes – your new home will be uniquely “you”.
3. …Or 100% Move-In Ready
On the other hand, if you’re looking for all the modern features and finishes only a new home can provide (but prefer to skip the build/ customization process), a move-in ready model may be the right choice for you. Typically referred to as quick possessions, you can purchase one of these homes: a) fully finished or b) almost finished but you’ll still be able to make a few design choices.
4. No Repairs, Replacements or Renovations
From state-of-the-art appliances to the latest in energy efficient systems (more on that below), everything in a new construction home is just that – new. This means you won’t have to worry about replacing the roof in a years’ time or your furnace kicking the bucket mid-Edmonton winter. And, with so many models and customization options available, you’ll never feel the need to take on the expensive, time-consuming renovation projects, common to older, resale homes.
5. Peace of Mind With New Home Warranty
As of 2014, each and every home built in Alberta must be accompanied by a mandatory 10-year warranty, which includes:
- 1 Year – Materials and Labour Coverage
- 2 Years – Mechanical Systems Coverage
- 5 Years – Building Envelope Coverage
- 10 Years – Structural Defect Coverage
Not only will any warrantable repairs be looked after by your builder, but you can rest easy knowing you’ll never be on the hook for defects that may crop up within the warranty period.
6. Ultra-Affordable Utility Bills
New homes are also known for their energy efficient features. From programmable thermostats and energy efficient appliances to triple pane windows and hot water on demand, home builders are increasingly focused on saving buyers money by incorporating smart, energy-friendly systems into their projects.
Photo credits: shutterstock.com