Buying a new construction home is a great option for many buyers. The appeal is that everything is new and typically current when it comes to design trends. When making any kind of significant purchase, it is a good idea to itemize your expenses so as to have accurate expectations and be able to cover them all. Be prepared for these potential expenses when buying new construction.
It might be assumed that since you are buying new construction that everything will be new and in good working condition. This is probably generally true, however, issues can always arise. It is for this reason that it is also a good idea to get your new construction property inspected before you close. As with any major purchase, it is a good idea to set aside funds for maintenance and repair. New construction, though probably less, is no exception.
When the construction crew finally pulls away and it’s time to check out the finished product you might find that the back yard needs some help. It is common for the front yard to be landscaped. However, you might want to invest some money into making the back yard into something of your liking. This might be something to ask your real estate agent about.
When you move into your new construction home you’ll need to purchase some essential items for daily living. There will be no previous owners that left you a washer and dryer, for example. You might even need a refrigerator. This can cost you anywhere from $400 to $3000. Furniture will be another purchase to expect. Although this is yet another expense, it can be a fun and exciting experience to create your own interior design with new furnishings. One last functional item that will cost you is blinds or curtains. This is something you’ll notice the first night you stay in your new home (if you already haven’t by that point). Rather than searching for sheets to cover the windows, plan for this expense ahead of time.
Depending on your previous living situation there may be a significant difference in the types and amounts of bills between your old place and your new home. For example, if you are moving from an apartment to a three bedroom house, your heating and cooling bills will be significantly higher. One way to keep these bills down is to use green heating and air systems. The light bill is another increased cost to expect. How many rooms will you be lighting? Again, there are energy saving options for this as well.
For more help preparing to buy your next home, get ready with Yorkville IL real estate agent Lauralee McElroy.