A new home is more than a foundation, four walls and a roof; it is the embodiment of the American Dream. Making the choice to invest in a new home for your family represents a big step forward in your physical and financial security.
While the dream of a new home is one of fulfillment, joy and possibility, actually turning your dream home into a reality can seem like a daunting task.
Don’t let the seemingly daunting task of finding the perfect new home stop you from living the life you have always wanted. This guide will inform you about the benefits of homeownership, benefits that only a new construction home will give you, and how to take the necessary steps to owning your own home.
The physical security provided by a new home extends past the safety features built into the foundation and walls and in to your family’s finances. A new home is a safe investment that helps stabilize your assets, while protecting you from the uncertainties that surround you.
One of the most obvious benefits of investing in a new home is its financial effect. When you choose to buy new, you get the satisfaction of knowing that you are building equity in a home that you own. You no longer have to pay off your landlord’s mortgage, while having to live with the fear of rent increases. If you ever must move, you can reap the benefits of amassed equity, thanks to your home’s value.
Homes are one of the best investments a family can make. Unlike savings accounts, stocks and simply paying rent, getting a fixed-rate mortgage to pay for your home serves as a hedge against inflation, protecting your family’s assets from the whims of the stock market, federal monetary policy and rising costs of living. Once you have equity in your home, you can watch as your initial investment continues to grow.
Buying a new home allows you to have the home you just pictured, instead of forcing an attempt to recreate it in an older house. You get to customize your home with special features and added touches of luxury that make it truly yours. You won’t have to worry about spending extra time and money repainting, redoing or remodeling.Social Benefits
Along with benefiting from the financial stability of homeownership, studies have shown that families that choose to invest in a home lead happier, healthier and more engaged lives.
Children of homeowners benefit from attending better schools and reach higher levels of achievement in math and English. Adults who own homes tend to feel more responsibility to become more civically involved, donate more time to their communities and participate more in the electoral process at all levels of government.
People of all ages that live in their own home report having a higher quality of life. Homeowners benefit from higher self-esteem, feel like they have more control over their own lives and report feeling less stress.
When you buy a new home, you get to be part of a new community that is coming together to form new traditions and bond over the celebration of events. Moving into a new-construction home allows you and your family to get to be a part of a group of neighbors that are just as excited as you to start the next chapter in their lives.
Community amenities provide you with spaces to mingle with neighbors as you enjoy the best life has to offer. Lasting friendships can be made when you greet your neighbors as you both move into your new homes.
Why Buy New?
Picture your dream home. Imagine the perfect floor plan for your family, call up your favorite color scheme, think about how you want to combine your personal style with your lifestyle in architecture.
Buying a new home allows you to have the home you just pictured, instead of forcing an attempt to recreate it in an older house. You get to customize your home with special features and added touches of luxury that make it truly yours. You won’t have to worry about spending extra time and money repainting, redoing or remodeling.
New homes frequently come with warranties and are more energy efficient thanks to green building practices, materials, and features added to new homes.
Before You Buy Your New Home
Before you start seriously looking for your new home, you need to understand and plan your finances. For ideal financial stability, you shouldn’t pay more than 25 percent to 33 percent of your monthly income on your mortgage. While a 20 percent down payment is ideal it’s is not necessary to purchase a home. Ask you lender about options.
Once you determine your budget, you need to know exactly what you want. How you want to live will affect every aspect of the home you end up choosing, from the size, style and location. Everyone’s lifestyle is different, so you need to find a home that caters to your needs and wants.
Think about is where you want to live. Think about how much yard space you want for your family, how close you want to be to fun things to do and how long you want your commute to work to be. All these factors will help you determine areas to start your home search. Next, you should think about how the type of home will influence your life. If you love urban living, you might want to search for townhomes that are in the city center; if you have a growing family and want lots of space and privacy, a suburban single-family home might be a good fit for you.
Once you have a good idea of where you want to live, and the type of home that caters to your lifestyle, it’s time to think about what style of home you want. Do you love cottages? Have you fallen in love with Tuscan-style homes? Deciding on the stylistic aspects of your home’s architecture is one of the most fun parts of house hunting and can help keep you motivated as you look for your perfect new home.
You and your family deserve the very best that life has to offer. Taking time to plan what you want will help save you time, effort and money when it comes time for you to invest in your dream home.
After graduating in 2016 from The University of Texas with a degree in English, Sanda Brown became a content writer for the BDX with a focus on website copy and content marketing.
At the BDX, Sanda helps write and edit articles on NewHomeSource.com, writes website copy for builders, and manages a team of freelancers that work on additional content needs.