In our last post we explored some of the pros of buying new construction. In this post we’ll look at the downside of buying new construction, and the pros of buying existing construction.
Buying new construction usually limits you in terms of location. New construction typically takes the form of sprawling suburban neighborhoods or urban high-rises. Suburban neighborhoods may be spacious, but they’re also typically farther from a town center, adding to a daily commute. High-rises are in the middle of the action, but offer little outdoor space.
Existing construction often has better landscaping surrounding the home, including large trees that provide shade in the summer, block the winter wind, and also muffle the sounds of traffic. It’s possible to transplant trees onto a new lot, but it takes years for the landscaping to mature.
New constructions often have cookie-cutter exteriors in order to appeal to the largest number of people possible. Expect to pay extra to customize a new construction to stand out on the block.
This isn’t an issue if you are purchasing a pre-existing new construction, but if you’re building a new home, the wait time is significant. On average, building a new home takes five or six months.