Building a new home is better than purchasing an older home for the value it provides. Here is how building a new home provides more value.
Modern homes are green. They are more energy efficient than older homes. When you build a new home, you work with industry experts to ensure that you end up with a home that saves you money in terms of monthly utility costs and energy bills. This makes your investment in a new home a valuable investment.
Despite having their charm, older houses can be fixer-uppers. The costs of their repairs can add up very quickly whether you opt to hire a professional contractor or handle repairs yourself. However, newly built homes do not require extensive maintenances. The warranty can also cover necessary repairs. This is the case when you choose an experienced custom home contractor.
You get a home that lasts longer without requiring expensive repairs. Design-build forms address maintenances issues at the drafting step of the process rather than at the construction phase. This saves both money and time.
The ability to build and live in your dream home is the greatest value of this approach. You get a dream home with all features you envision when you think of owning a home. When you purchase a home, you don’t get this value. Thus, you have to compromise on the features you may get by building a custom home.
Saving on Taxes
The taxes of your property will be lower during the first 12 to 24 months of building a new house. Tax is based on the assessed value of your home from the previous year. Therefore, building a custom home from an empty lot means you pay tax for the value of the lot only till the value of your hoe reaches its current value in the market.
Building a custom home is an investment whose resale value is higher. That’s because people want to buy modern houses with up-to-date features and modern appliances. Therefore, if you want to become a homeowner, consider building a new house instead of buying an older home.
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