New Homes: Why They Make Great Starter Homes
If you are looking for your first home, then consider looking at new homes for your starter home investment. New homes can be beneficial to you in many ways and allow you to get a lot out of your investment, particularly as a first-time homebuyer.
Ask your agent to only show you new homes on the market that have just been constructed. Here are some reasons why.
You know the home's history
Owning a home can be a big responsibility if you aren't sure what you are getting into. Homes come with a malady of potential issues, such as older appliances, aging roofs, landscapes that need to be repaired, and fencing that needs work.
When you look at new homes only, you look at properties that don't have any previous owners. This allows you to be able to know the home's history you buy upfront, and you'll have peace of mind that there will be few surprises with your property as you get used to new homeownership.
You don't have a lot of work to put in
New homes don't need any work because the carpeting and other flooring materials are new, the appliances are new and modern, and the paint and exterior features are updated and ready to go. This means you don't have to put any of your money into upgrading or modernizing the property and can enjoy the house as-is for quite a while. You won't have to put any work into the property until you're ready to sell it, and even then the work may be minimal if you take care of the home properly.
You have an easier time selling the home
Many people outgrow their starter homes within 13 years or so. Eventually, you may want to put your home on the market to move into a larger home or to a new area that meets your needs best. New homes might sell better than older homes do because they have less wear and tear and are more modern in style. If you want to have an easier time selling your home in the near future, then consider buying a new home for your starter home needs.
You can also look at established properties on the market that are not that old. Speak to your real estate agent about what you hope to find in your new home so you can have an easier time shopping among new homes that meet your needs.
When you think of real estate, what comes to mind? Most people initially think of homes, and indeed, private residences to comprise a pretty big portion of the real estate market. However, empty lots, office buildings, and commercial buildings are also considered real estate. When shopping for any type of land or property, you need to ensure the real estate agent you hire has expertise in the particular type of property you want to buy. For instance, you don't want to hire a commercial real estate agent to help you buy a home. Learn more about the intricacies of real estate on this blog.