The 2014 real estate market is rich will opportunities for those looking to buy new homes and with mortgage rates still at incredibly low levels, now is the perfect time to take the leap into new home ownership. But, for many prospective buyers, making the decision between buying a previously lived in home and a custom designed brand new home can be a challenge.
On one hand, a newly built home is an exciting experience that allows you the opportunity to make certain changes to make it entirely your own. But, on the other hand is the belief that buying an existing home will save you a lot of money. After all, only the wealthiest people can afford to have a home custom-designed and built for them, right?
Not true says Atlanta custom builders, Southland Custom Homes. In fact, there are several common myths concerning new home designs that home buyers should be aware of before making their final purchasing decision.
Myth #1 – Building a New Home is More Expensive Than Buying an Existing Home
Although building a new home does have construction costs assigned to it, the truth is that building a new home from scratch can be more affordable than purchasing an existing home over the life of owning the home. Existing homes were built using the latest technology available at that time barring any upgrades. This can result in the home being built with antiquated materials and equipment. A new home, on the other hand, is built using the latest in building materials and technology. This means the home will be more energy efficient, better insulated, and more eco-friendly – all of which help to reduce the total cost of ownership significantly.
Additionally, whenever you buy a used home, there will almost always be repairs, updates, and renovations needed. This expense is never taken into account in the final price of the home, but depending on what is involved, this can add five, ten, or even twenty thousand dollars onto the cost of the home whereas a new home comes with no such surprises because everything is brand new and under warranty.
Myth #2 – Eco-Friendly Building Materials Cost More Than Traditional Materials
Ever since green building materials were introduced, this myth has been circulated time and time again. While it is true that certain high-end green building products are more expensive than their traditional counterparts, there are plenty of opportunities available to incorporate green materials in any residential home design and on any budget.
Myth #3 – Green Building Materials are Inferior to Traditional Building Materials
The truth is green building materials offer all of the quality and reliability of traditional building materials but with the added benefit of them being friendlier to the environment. A perfect example of this myth being debunked is the fact that high-efficiency toilets were long considered inferior, but over time, these eco-friendly toilets have proved to be just as effective as high-volume toilets while conserving more than half the water.
Myth #4 – It Takes a Long Time for a New Home to be Built
From designing the home to obtaining the permits to breaking ground to the finishing construction, building a new home can take some time but it is not quite as long as some may think. Some homes can be completed start to finish in as little as five months while other, larger or more detailed homes could take eight months or more. Of course, if your home is being built during a time of year when inclement weather is commonplace, then you can expect it to take a little longer. When you consider that in some cases negotiations and closing on a previously lived in home can also take several months, there really is not that much of a difference. Ultimately, your builder will be able to provide you with an accurate estimate for the length of time required to build your home.
Myth #5 – It is Harder to Get Financed for a Custom New Home
Lenders don't care whether you are buying an existing property or a brand new home. All they care about is whether or not you can afford to repay your mortgage. As such, the qualification requirements are the same regardless of which you choose.
But, what can make a difference are the potential problems that can arise from the seller's side of the deal. For instance, sellers who are selling their current home to make a move to a new home could run into financing problems which will then impact your ability to purchase their property. Or, there may be liens on the property, or the seller could change their mind at the last minute, thus wasting all of the time and money you invested into purchasing their home.
Get the Truth About New Home Construction – Contact Southland Today
To learn more about the benefits of buying a new custom-built home over an existing property, contact Atlanta home builders, Southland Custom Homes today by calling 1-866-56-BUILD or visit their website at www.southlandcustomhomes.com .
About Southland Custom Homes
Southland Custom Homes is one of the top-rated on-your-lot home builders in GA. Since 1980, Southland has helped thousands of people build high quality new homes in metro Atlanta, Macon, and North and South Georgia, while staying true to its mission of building quality, affordable custom homes on the land their customers love. With model centers located in Marietta, Dawsonville, Metro Atlanta and Macon, the Southland Custom Homes team is your best choice for a Georgia new home builder.
We design high-quality, high-efficiency custom built homes that will fit your lifestyle and budget. Our customers may choose from over 120 beautiful custom home plans, each one customized to suit individual needs. Additionally, customers who have their own house plan can get a free estimate to build from Southland within 48 hours. Southland will also design and build a new home “from scratch” for those individuals who want all of their ideas incorporated in their perfect dream home. Best of all, these custom designed services are free to all Southland customers!
Southland Custom Homes
Southland Custom Homes