Buying new construction?

[ScrimpAndSave]

I have the option on buying new and many teachers in my school have done so within the past few years. The area is in a very good school district and the developer has a few clusters of homes that have been around for 5-20 years.

My dad seems to think I should buy new since it is only me living there. I won't have to worry about outdated things (electric and plumbing) though I know there are many other things to worry about.

Everyone raves about the neighborhood...if I want to live in a twin/condo then I think this is the way to go. An inside unit is $179k and an end one is $191k.

Omega Homes - Choose Your New Home

MLS

[MonkeyMama]

We bought new in 2001 - LOVE it. The house is still very up-to-date and we have put virtually no money into it (giving us time to save for repairs/maintenance down the road).

The thing we love the most about new construction is the energy efficiency. Are any of the homes you looked at rated "energy star" homes? I would highly recommend buying from a builder that is big on energy efficiency. I think we took the sales pitch with a grain of salt when we bought the house, but we have been absolutely amazed at our low utility bills. All the appliances are energy efficient, and all of the water fixtures are low flow, etc.

The plumbing is copper and the roof is supposed to last for eternity. More important than the appliances is the insulation, etc. Superb.

Though we love the character of older neighborhoods, etc., I think we have been a little too spoiled by new construction. On top of all that we got to customize much of the house for pennies. & we bought in a hot market. We were able to change things around in the house (walls, etc.) at virtually no additional cost (though a custom house of course would have cost far more). I imagine in a market like this you have a lot more leeway/bargaining power.

I share all this because I think in general new construction gets a really bum wrap.

[swanson719]

Our house was built in 2001 and we pay very little in heating/ac bills, and almost nothing in water/sewage/trash. Combined, these come out to about $80 a month - less than cable. It's great for energy efficiency, but more to the point, it's reliable. No foundation issues or anything like that.

[ScrimpAndSave]

Yes...they are energy efficient homes...but they are townhouses and not detached homes like your own.

[snafu]

The economy is still uncertain. Have developers gone bankrupt in your region? What protection/recourse is available for purchasers who have given deposits or earnest monies? What assurance construction will be completed on schedule?

Have you checked the reputation of this builder with BBB and Home Warranty Program in your community? What other complex has this firm built? Are there any older units elsewhere from this developer for sale that you can see?

What services that you use are available nearby this site? New homes are more energy efficient but only as good as the framer, roofer, plumber etc. I would insist on having a building inspector check the unit before taking posession. I presume if you are buying from the developer, you need not pay realtor fees. Who helps walk you through the details of financing? Since there is an appliance package, be aware that you are paying for these for 30 yrs even if they have a lifespan of 15 yrs. Due to amoritization schedules, you should run the numbers so you fully understand how much an owner pays. What are condo fees and what do they cover? What amenities are available on site? Be sure to know and understand the condo rules as they can effect your enjoyment. Would you be interested in servicing on the board?

[cschin4]

The economy is still uncertain.

I think this is true of any point in time! I think the best time to buy a home is when you need and can afford one. However, on a teacher's salary this could be a stretch of your income unless you are starting in at a great salary.
And, to buy for one person may be more than you need. Also, do you plan to get married, kids in the future? A condo might not seem so ideal and/or your future spouse may already have a home, not like the area, etc. Something to think about.

[ScrimpAndSave]

cschin4, my salary over the next few years is $53k, 60k, 67k, 754, and then 84k. This was signed by our board of education and is in our teaching contract.

Also, I am 28 years old and definitely do not want children...although a marriage may be in the future (didn't meet Mr. Right yet).

So I am really trying to base things off of my current salary (not what I will be making in the future). I am also basing things off of my current needs as well since I do not plan on having children and only need a place for me and my small doggie.

[Ima saver]

I have always lived in a new house and I love it. We have spent very little on maintenance since moving in this house 12 years ago. My house is huge but my electric bill is very small because it is so well insulated. Of course, I had the best builder in the area; I am married to him.

[mom-from-missouri]

Originally Posted by ScrimpAndSave

Everyone raves about the neighborhood...if I want to live in a twin/condo then I think this is the way to go. An inside unit is $179k and an end one is $191k.

Omega Homes - Choose Your New Home

MLS

So, have you researched the differences in the units???

An inside one may save you in utilities (heating/cooling). However, from the volunteer firefighter side of me, an outer unit normally has more access to the outside..and more of a view.

[marvholly]

Another thing(s) to consider in new construction are some added costs for things NOT included that you WILL need:

window shades
drapes/widndow coverings
towel bars kit & bath
Are the appliances what you want ie reg fridge vs side by side w/dispenser
Are the appliances top of the line or will you want/need to upgrade
possibly add on for washer/dryer
possibly add on for more efficient heater/ac
phone/cable/internet wiring

Then there are the nice wants:
patio furniture
BBQ
storage shed and/or shelves in garage

Will you need to do and pay for any outdoor plantings: grass/sod/floweres/trees/bushes?

What are your home owners fees (PLAN on it doubling+ when the builder turns the association over). What EXACTLY does it cover? What about water, sewer, trash fees?

Personally, I would prefer a corner unit-less neighbor noise, more privacy, more light. In deciding make sure what exposure(s) you will be getting. North & west cost WAAAAY more in heat/ac. Internal units may have poor cross ventilation and you would use more heat/ac when a window fan might do some days/times in a corner.

[PrincessPerky]

If you go with new built, find out how previous owners feel.

in our community there were two builders, one left major problems (foundations sinking, cracked walls, lousy insulation)

another (ours) is decent, but not perfect. (mismatched insulation..weird)

So please don't go with 'new built good' or even 'this builder good'. check more specifically locally.

especially with condos, the insulation between units needs to be VERY good or you will hear their kids/music/ect. If at all possible get someone to play a deep rap song at a decent level and go next door before you buy.

That bass is the only sound I hear while my windows are shut (mine is not a condo) I grew up over a record store hearing it all the time, so I don't mind, but others might.

[ScrimpAndSave]

I know a lot of people that live in the ones that are already built and they LOVE them!

[Ima saver]

I give prospective customers about 25 letters of references complete with phone numbers, so they can call previous customers and ask them directly. None of our customers mind at all and it gives new customers a lot of peace of mind. We didn't have any licensing in this area (Georgia) until this year, so anyone and everyone could become a builder. (and did)