There are many builders and communities that give you the opportunity to purchase a new home before it’s built. Investing in a pre-construction home has many advantages that a resale home isn’t able to provide. Here are four reasons why pre-construction may be the right choice for you.
1. More time to save money
When purchasing a pre-construction home, you have the luxury of time. You secure your new home with a deposit. Depending on the builder’s deposits structure, you will be required to pay the deposit in small increments, typically up to 20 percent of the purchase price, by the time of Occupancy. This provides you with the opportunity to save up for your mortgage payments that only begin after Closing. Furthermore, most lenders will offer a cap rate mortgage program meaning your interest rate will not change should rates go up during the construction phase of your new home.
2. Choice and Customization
As a pre-construction home buyer, you get to choose from an incredible selection of new homes and models like our new community. By purchasing a new home you get to choose something that fits your family’s lifestyle and can accommodate your needs now as well as the needs you may envision in the future. You also get to choose the features and finishes that best suit your tastes and budget such as countertops, flooring and other design accents. Moving into a brand new home means you don’t have to think about any renovations Your new home is move-in ready. Homebuilders use thermostat advanced products and materials, resulting in a more energy efficient home, built to high quality standards. You won’t have to worry about updating your home’ shingles, windows, or doors like you may in an older home.