You Need to Protect Your Investment
There is no short supply of brand new homes for people looking to purchase and everyone seems to want one. It’s no wonder when the culture revolves around new things. Everything, including a home, has to be brand spanking new and shiny. Plus, as you know from our experience, there are lots of problems with old properties which turn buyers off too. In the past five years, we’ve purchased both. We built one of those shiny brand new homes just a few short years ago. And, of course we have our current home that was built almost 120 years ago.
From our experience, we’ve learned that brand new homes look wonderful but are not infallible. The truth is they can have several of the same problems that older homes have, sadly. If your heart is set on buying a brand new property you need to understand protection is essential. Go in with your eyes open.
Some New Homes Can Be Poorly Constructed
The issue is the timescale. Contractors don’t want to spend months perfecting every detail, so they throw new homes up in a matter of weeks in many cases. As a result, there can be problems ranging from cracks and gaps in the windows and doors to mold in the closet. Mold in areas of the home seem impossible because everything is new. But it does happen. Once the keys are in your hand, even with a warranty, it’s still your problem. This is why you need to order a home inspection before you close on the property. Even if the home is a brand new build.
Watertight? Not so much.
We had only lived in our brand new house a few months before we realized the windows in the master bedroom were leaking when it rained. The window seat in front of those windows was ruined. It was bubbled up and had to be replaced. Which took months trying to get the builder to make the repair. Lots of houses in our neighborhood had the same issues. Some had yards that were not graded correctly and water ran toward the foundations and crept through weep holes. And I’m not talking about economy built homes. This is an upscale neighborhood. It made no difference. The main parts of the house may be excellent, but the areas such as the windows, basements, and attics can have leaks. Undetected, these types of leaks can ruin walls and create a moldy health hazard. It’s not a bad idea to hire an attic and basement waterproofing company to be sure you’re investment is safe. Basements are especially notorious for leaks so there is no reason to take a risk.
Closed off Areas
An open concept floor plan is what so many people are looking for today. It seems that most new builds are still including things like formal dining rooms and living rooms. You may have found a home that has a price point that works but you’re not thrilled with the layout of the house. Don’t let this deter you from purchasing. Thankfully, a sledgehammer can solve the problem. Knocking down a non-load-bearing wall can give the house a more open concept feel. There’s a demonstration video below, or you can call a contracting company to do the heavy lifting. You may not be able to do this the first year you’re in the home, but remember, this is a long term investment. Start a savings account to make home improvements. Plan. Schedule an actual time frame to get it done and work toward that date. Be patient.
The odds are that the brand new house you’d like to buy is surrounded by several properties that look much the same as yours. Make yours stand out. You can set your house apart from the others by creating beautiful landscaping and curb appeal. Adding a patio, deck, or pool is also a great way to up the value of your property. As I’ve stated- this is a long term investment, so just make improvements as you can. Honestly, in the three years we lived in our brand new home, our improvements (and the uptick in real estate in our area) helped up sell our house for $100k over our purchase price. The improvements were well worth the price to do them.
If you’ll take care of your investment along the way, there’s no reason your house can’t maintain or increase its value.