There are several advantages to buying a new construction home.
What are the advantages of new construction?
First of all, new construction homes feature the latest finishes, gorgeous decor, etc. You also don’t have to make changes to personalize the home to your tastes—the paint, cabinetry, appliances, and everything else have already been designed according to your preferences. A lot of advances have been made in terms of energy efficiency for new construction homes as well. The materials used now are dramatically different than the materials used during the ’70s and ’80s. People are often surprised that, even in a more expensive home, their utility costs are much lower. Therefore, the net cost of owning a new construction home is more affordable.
There are also tax advantages to owning a new construction home. There are many metro communities that offer tax abatements. Even in areas that don’t offer tax abatements, property taxes are run in arrears here in Iowa, meaning that we pay them the following year. Last August was when homes were put on the Polk County assessor’s rolls for this fiscal year, so 12 to 18 months can pass by before your property taxes kick in. Plus, you’re only paying for the lot underneath, so that can save you $250 to $350 each month. That’s a tremendous benefit when you’re settling into a new place.
As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to us via phone or email. We’re here to help, and we’d love to hear from you soon!