Is luxury new construction best for you?

Is buying a luxury new construction home best for you?

Well, that depends. 

I have boiled it down to 3 major factors when it comes to choosing luxury new construction vs an existing luxury structure.

1.) Budget

Typically, a luxury new construction home in any given area is going to cost 35-100%+ what your average already constructed home will cost. That is because the seller has land value for the lot + the investment made in building the property. With this in mind, a new construction home is going to come at a premium compared to those preexisting. There are ways to purchase more affordable new construction homes, they are typically located in what most classify as "up & coming" areas. 

2.) Timeline

Luxury new builds are sometimes listed on the market before they even break ground. With that being the case, you may be 12-18 months out from being able to move into that dream home of yours. If getting into a home quickly is more important than the home itself, than this may not be the best option. However, if you have the capability to wait, this could be a wonderful way for you to get into a home that truly speaks to you.

3.) Style Preferences

The most unique aspect of a new construction home is the style. Most new homes are built with the modern & ultra modern design. For a lot of people this really resonates. With a major emphasis on clean lines, light colors, & natural light it is hard to not love it! If this is not your taste though, there are some builders that still build all sorts of styles from Tudor to Mediterranean & even Colonial! It is more rare though to see mid century modern designs, in which case, looking for a home built in the 1940s-1960s would be your best bet.

All this to say, if you can afford buying luxury new construction it may be one of the best decisions of your life! The benefits are many & I will elaborate in my blog next week. Stay tuned!