House hunting can be a daunting process, even for seasoned homeowners. There are so many questions to answer – what style house, how big and what location. Of course budget comes into consideration and usually comes into play when deciding whether to buy a previously owned home, or build one that is brand new to your specifications.
While personalizing your home down to every detail may be appealing, building from scratch can be fraught with unknowns and potential problems. This is why many buyers opt to buy a “next to new” home that has been built recently, an option that can have some distinct advantages.
1. You Have a “Nearly New” Home!
When you buy a recently built home, everything is new. The appliances are state-of-the-art, the systems like HVAC and roof are at the beginnings of their lives and the windows are made for modern weather conditions – and that newness applies to the whole house. Moreover, many of the new elements of the house can come with remaining years under warranty, indemnifying you against repair costs for as long as the warranties last. The sustainably-built homes at Indigo Park on Kiawah Island were recently completed in 2018 and feature green building techniques inside and out – they have all been awarded with SILVER LEED certification!
2. You Avoid the Pain of Building
Working with a contractor can be a prolonged bout of frustration. The expectation of perfection is almost never met and requires months of decision-making, compromises, negotiations and waiting. When you buy a house that’s already built, you avoid the hassle and know what you’re getting from the start. You also know what the price is the day you sign the contract to buy! This listing at 2619 Bayonne was just completed earlier in 2018 and features the highest quality construction by Daly Sawyer.
3. You Save a Lot of Time
Buying a new home that is already built can save six months or more – time you don’t have to spend waiting while the house is under construction. It can also save money and the headache of trying to perfectly time the sale of your existing home with the move-in date of your new home. How many people do you know who sold the home they were living in only to find that construction on their new home was delayed? 565 Bufflehead Dr. on Kiawah Island is only 11 years old, located on the golf course and has an elevator installed.
4. You Can Move Right In
Being able to move in as soon as the sale closes is a major convenience compared to having to wait until construction is complete. This is especially true of buyers relocating for work or whose children are preparing to start school. For them, building a home causes major logistical issues. A good example is this home at 2632 Colonel Harrison Drive, built in 2015, is in a new home community on Johns Island and ready for occupancy immediately.
5. Energy Efficiency and Weather Protection
Building codes are much more stringent than they were twenty or thirty years ago. In the Charleston, S.C. area, a slew of building requirements put in place so homes are designed to withstand hurricanes were instituted in the aftermath of 1989’s Hurricane Hugo. When you buy a new house, you benefit from the tighter building envelope now required by law, without having to actually build the house yourself. That means more peace of mind and lower utility costs. A great example is 672 Ellis Oak, pictured here. Located on high ground 17 Feet above sea level, the 2006 home is built to current codes, and even features hurricane proof windows!
6. The Bottom Line is the Bottom Line
When you build a house, costs almost inevitably add up beyond the number you originally agreed to pay. There is no maximum cost to a new build. When you purchase an existing house, the agreed-upon sale price is the final number. If you do find an issue during the inspection, you can nix the deal. Try that halfway through a home build. And what happens if material costs increase during the build? You will have to stomach the additional expense regardless.
With builders costs rising every year, many buyers are looking for the ideal “next to new” option at a significant discount from building new. Purchasing a new, existing home is a win-win for buyers who want the advantages of a new home without the hassles and costs associated with building it themselves.
Since 1983, the Charleston community has turned to Daniel Ravenel Sotheby’s International Realty for its expertise in buying and selling luxury homes. Since its founding, Daniel Ravenel Sotheby’s International Realty has managed over $2 billion in real estate sales without litigation. To learn more about new homes in the Charleston area, call (843) 723-7150 or visit DanielRavenelSIR.com.