Are you in the market for a new home? Trying to decide whether to look at existing homes or build a new home? We’re admittedly biased on which is the best option, but there are some very good reasons why you should buy a new home over an existing home, including the following five.
Buyer Competition (or Lack Thereof)
Utah and the Salt Lake Valley in particular are among the hottest real estate markets in the country right now. Existing home inventory is low, and homes are selling faster than they were even a year ago. According to UtahRealEstate.com, in December 2020, the median number of days a home was on the market was nine vs. 36 one year earlier. What that means is buyers are facing bidding wars, the need to offer over asking price, and a lot of frustration trying to find a home. In new construction, such situations are very uncommon, and buyers who can qualify for a mortgage and meet deposit schedules are able to buy a new home with little, or no hassle.
Customize It to YOUR Style
Instead of searching and searching for a home that fits your needs and style, you can just build one that is EXACTLY what you want instead. You pick the floor plan, structural elements, and design features from flooring to paint colors to cabinets and countertops and much more, and all of it is rolled into your mortgage. With an existing home, you either accept what is already in the home or you will face the prospect of a home improvement project and/or remodel. According to HomeAdvisor, the average price of a kitchen remodel (the most popular home improvement) is in the $12,000 to $35,000 range. That’s a very large expense on top of the cost of the home purchase, not to mention the disruption it can cause to your home life.
At Liberty Homes, we want your home to be the home of your dreams, so we offer a multitude of options and customizations. From the many floor plans and elevations offered to our Design Center’s large catalog of options, we can build to your specifications. We also have structural options and the ability to do further customizations outside of our traditional offerings.
Smart technology is quickly becoming a hot trend in homes, and adding it to a new home is significantly easier (and, in some cases, less costly) than in an existing home. Liberty Homes offers smart home options that include smart thermostats, smart deadbolt locks, video doorbells, and more. All of those will be installed during construction and ready when you move in.
Less Maintenance and Repairs
Much like a new car requires far less maintenance and repairs than a used one, a new house, built with new materials, appliances, and home systems, will also be easier and less expensive to maintain. Plus, your new home comes with a one-year builder warranty and additional manufacturer’s warranties to give you additional peace of mind. All of this means less annual out-of-pocket costs to you and no big, costly surprises like an HVAC unit that goes out (average replacement cost of $7,000) or a roof that needs replacement (average cost of $5,000 to $10,000).
More Energy Efficient/Lower Energy Bills
From insulation to windows to appliances, new homes are built with the latest advances in construction materials and building practices, which are more energy efficient. This means lower utility bills vs. an older home, which may have outdated appliances, air leakage, and other issues impacting efficiency. Exact savings vary depending on location and specific living habits, but a new home could mean utility costs that are lower by 13 to 30 cents per square foot vs. an existing home.
Safety
A new home will be built to the latest safety standards. From hardwired smoke detectors to modern fire-retardant materials to garage doors with sensors to detect a small child to modern circuit breaks, builders incorporate features that can mean a safer life for you and your family.
Looking for your dream home? Liberty Homes has been building new homes in Utah for more than 25 years. We take pride in our trade, crafting each home as if it were our own. Our quality, affordable homes are energy smart and thoughtfully personalized for your active Utah lifestyle. We currently have new single-family homes available in Bluffdale (limited availability) and West Valley and townhomes available in Salt Lake City. Contact us today to get started building your new home.
