Buying a new custom home means you will enjoy less maintenance or fewer costs. One of the traps home buyers fall into is buying an older home because of the bargain price. Hiring a contractor, designer, or architect to turn the dilapidated older home into a dream home could cost tens of thousands if not more than $100,000. For aspiring homeowners in The Northwest, the better option is to buy new. According to a report by the National Association of Homebuilders (NAHB), less maintenance and energy expenses are two of the virtues of a newly constructed house.
Routine Maintenance Costs
When it comes to the everyday, routine maintenance costs, a study showed:
- 27% of homeowners spent about $1,200 more a year on upkeep expenses.
- Only 11 percent of the people who bought custom new homes spent that much money.
- 75% of new custom homeowners spend less than $300 a year on routine maintenance costs.
Energy Expenses
New custom homes require less maintenance, but you also save money on utilities. According to the NAHB, the average homeowner spends about 80 cents per square foot annually on heating and cooling. However, people who bought new construction homes only spent 68 cents. Some of the features in new homes include better insulation, energy-efficient windows, and doors, energy-efficient appliances, and furnaces.
If you aren’t sure whether you should buy a new or old home, you could be overlooking other issues as well. When you pick an on-your-lot builder, you not only control the home style and layout but also the location and site of your custom home. An article by bankrate.com points out a home’s condition is as important as location and price. Older homes bring older components that are expensive to repair and replace.
At HiLine Homes, we are a reputable on-your-lot builder serving The Northwest. For more information about the advantages of a new custom home, visit us here: HiLine Homes