Buy a Home | New Construction
Buy a newly-built home in your state or anywhere in the USA.
- New construction homes ready for moving in and occupation
- New construction homes nearing completion
- New homes under construction
- New homes with built in kitchen cupboards and appliances
- Designed by architects, built by experienced contractors and property developers
- Detached beautiful single-family homes
- Competent prices
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What does new construction home mean?
This term is commonly used in the USA to refer to newly-built houses or those under construction and nearing completion. These homes are built by property developers, building contractors and other companies such as architects, engineers, banks, pension funds and insurance companies who are investing in property. Investment capital is used to buy land which may be serviced or not, and later on private residential properties are built on this land and sold at a profit. The need for housing is behind this concept but it can also be used to build luxury/opulent mansions for the upper class market.
Is it cheaper to buy a new construction home?
Theoretically, new and old homes of the same design and specifications in the same location or area code are supposed to a have a price difference, with new homes costing slightly or much higher than old homes by a difference based on depreciation and the house price index. However, when you browse through home listings on real estate websites, there is no clear difference in pricing between new and old homes. It’s kind of random. You will find a lot of newly-built homes that are cheaper than old homes of the same specifications or just in the same price range. There are a lot of factors that go into pricing a house so the selling price will differ.
Are new construction homes worth it?
A new home has several advantages over an old house. The obvious advantage is that it has never been occupied, so you will be the first owner of this house. The house has a longer life-span as well as lower depreciation and maintenance costs than an old house. You won’t be expecting medium to long-term repairs and renovations until after 10 to 30 years. Older homes often need major repairs and renovations before settling in. There is no guarantee the previous owner will make a thorough refurbishment prior to selling the house. In old homes, embellishments and renovations are often done to readily visibly areas while hidden areas are neglected to impress the buyer, and it’s only when you have settled in that you will discover some problems which were not apparent in the beginning. That’s why a thorough inspection is required before buying a house. Newly-built houses are free from problems caused by deterioration, decay and use.
Is it cheaper to buy a home being built?
As previously stated, there is no huge difference in price between a new and established home, provided the house is not dilapidated, approaching or beyond its depreciated lifespan, which is 27.5 years for residential properties. It is possible to buy a house which is still under construction. You have to be on the waiting list, but some builders will advertise the house while it’s still under construction. At this stage, the house is in the building phase (contract administration stage) being built under architectural and engineering specifications in the contract, so you cannot interrupt or make alterations at this point. It’s more economic and cost-effective to allow the builder to finish the house rather than buying the house, ceasing operations and finishing it on your own. Design and build contractors have the required resources, labour, logistics and technical experience in place to execute this work smoothly and efficiently, since they are familiar with the template. This type of organization delivers buildings at a much lower cost than the traditional contract involving an independent architect and contractor.
What is the best way to buy a new house?
The best way to buy a new house is acquiring a mortgage loan which can be repaid on monthly instalments over the years. The estimated monthly cost of buying a home includes the principal cost, interest, property taxes and home insurance. Talk to a lender to get a pre-qualified loan. Alternatively, you can get a construction loan to build your own single-family home. Patch of Land has loans ranging from $250,000 to $10 million for American residents.
How to buy a house for the first time?
If you are buying a home for the first time, it’s highly recommended to buy a new construction home which won’t present you with issues such as repairs and deteriorations. Older homes need a lot of repairs and refurbishments, which can be a nightmare if you are trying to settle down. New homes have fewer problems than older homes.
Checklist for buying a new construction home
When you are moving into a newly-built home, check the following. The most important thing is checking for structural defects, poor workmanship, compliance with local municipality codes and architectural specifications:
- Find out if the land/Lots are serviced by the municipality or property developer.
- Is the property situated in a serviced or un-serviced area? In an un-serviced area, you will need to build your own septic tank
- Is there a sewer connection point in the area?
- Is there a water supply connection point in the area?
- Is there an electricity connection grid in the area?
- Have your Lot (private property boundary) surveyed and marked by the local authorities
- Inspect the quality of workmanship and materials. Look out for defects, poor workmanship, poor installations, and make sure the materials are in compliance with architectural specifications. You can hire a structural engineer or building inspector to do this for you.
- Is the finished work in compliance with local municipal codes and regulations? The whole building can be completely or partially stripped down by the local authorities if there is a significant violation of building codes. Installations and works which are not in compliance will be fined and a takedown order will be issued.
- Check the floors, walls, doors, windows, skirting, ceiling, cornices, inbuilt cupboards and kitchen appliances.
- Check and test the sanitary fittings (sinks, bathtubs, wash-hand basins, faucets, taps, showers, W/C toilet and cisterns). Open the taps at full blast and allow water to flow through the plumbing. Check for leaks, cracks and malfunctions.
- Check and test the internal cold water plumbing, including tanks. Open the taps at full blast and allow water to flow through the plumbing. Check for leaks, cracks and malfunctions.
- Check and test the internal hot water plumbing, including tanks. Open the taps at full blast and allow water to flow through the plumbing. Check for leaks, cracks and malfunctions.
- Check and test the HVAC installations (ducts, extractors, exhausts, fans, boilers, water chillers, cooling towers, radiators, furnaces, pumps, heaters)
- Check and test the domestic waste water pipes in your kitchen, toilet, bathroom and laundry. Open the taps at full blast and allow water to flow through the plumbing. Check for leaks, cracks and malfunctions.
- Check and test the site sewer installations. Open the taps at full blast and allow water to flow through the sewer pipes. Check for leaks, cracks and malfunctions.
- Check and test the site water reticulation (water supply systems).
- Check and test the external drainage systems (storm water pipes, roof gutters and downpipes).
- Check the electrical installation in your house. Connect to the grid and test your lights, appliances, switches and sockets.
- Check and test the roof for leakages and other defects. Take a hosepipe and spray large amounts of water over the roof. Ask someone to check for leakages inside the house.
Where to buy new homes?
This site publishes newly-built homes in the USA on a regular basis. These are new single-family homes ready for occupation, nearing completion or under construction. Fill in the web form below to get updated and connected with a seller in your state: