When you find yourself in the market for a home, the word “new,” often means simply “different,” or “new to you.” In real estate, the effect of newness on price is slight, or sometimes nonexistent, which gives some the false impression that new homes have no inherent added value. This is a mistaken assumption on the part of homebuyers. The upsides are numerous, and certainly not mere trivialities like fresh paint, or shinier appliances. In reality, buying a new home puts you at a serious advantage whether you’re planning to buy new homes in Dublin, CA to become a landlord, or buying a residence for yourself. Here’s why:
The second escrow closes, you’re well on your way to equity.
Resold homes are generally in stasis with regard to location. New developments, on the other hand, are blossoming communities. When few construction phases are complete, some Dublin new homes may not yet seem as tempting as ones in finished communities. However, as more phases open, and the community develops, values increase, and where construction is moving rapidly, the increase can be sudden. It’s not rare for a new home to appraise for higher than the selling price when re-appraised on the owner’s move-in date.
Ask the owners of resold homes about their warranties.
…They probably have none
As the owner of new homes in Dublin, CA, your investments are protected by warranties required by law, as well as other warranties from the builders. Federal and State law insures that your home will keep its structural integrity for ten years, meaning the foundation, roof, and windows are guaranteed not to come crashing in due to poor construction, or the builder has to fix them. The builder generally provides additional one-year limited warranties on items like your heating, ventilation, air conditioning, plumbing, and electrical systems. Your friends in resold homes meanwhile, just have to hope the walls stay up, or else.
Utilities: Living in an up-to-date home saves you money every month.
Utilities are those nickel-and-dime costs that add up when you’re wasting water or heat. Most owners of resold homes are practically flushing money down their highly inefficient toilets. Your new home’s dual-pane windows and foam insulation will keep you warm or cool without running the heater or air conditioner non-stop. The savings are massive: new homes in Dublin, CA at about 2,000 square feet will cost about $200 a month for utilities, while older homes of the same size will cost one third more at $300, meaning a savings of $1,200 over the course of the year.