A recent survey reveals that most Kingston people favor newly-built homes over pre-owned ones. However, since brand new homes are pricier than those that have been previously owned, buyers are more bent on opting for the latter. There are 5 reasons to change their choice. Outstanding Value A brand new property, based on its area and location could cost 15% - 30% more than a pre-owned one. Why? As a start, you should hire the services of Kingston home builders for the work. The building process usually entails delays and extra expenses. In addition, bear in mind that the costs of materials may change due to the market price and availability. Because of the aforementioned, a new property usually has a higher resale value since it is more attractive than a home that has been previously owned. Fully Customizable Buying a pre-owned residence has a disadvantage of not having the latest features you want. So, new owners still have to spend on remodeling of rooms, renovation of cabinets and countertops as well as purchasing of new appliances. It is more expensive to refurbish an existing property than to have a new home built, based on your preferences. This means that the money that a buyer could save on a previously owned home is often spent on renovations to make it look new. By contrast, people who get the home they really want do not need to spend for major renovations for a long time. Less Repairs Even if the former owners took good care of the property, older houses tend to need tender loving care. It may require repainting of walls, replacing of kitchen tiles or adding new carpets, letting new owners face new projects. There is a higher probability that major repairs are also needed, especially if the house is more than 25 years old and major systems need attention. By this time, the home’s electrical, plumbing as well as HVAC systems have aged and will surely require check-up. If this shows unfavorable results, these systems need to be changed to meet the demands of modernization. Warranty Protection Brand new homes usually have warranties to protect owners from structure deffects and builder errors. For instance, Kingston builders may agree to address the repairs needed during the first year of home ownership. Bigger parts of the home, like the roof, may include warranties to cover replacement and costs of repair for 10 years and beyond. This does not apply to pre-owned residences. They are comparable to used cars that are sold on an as-is basis. So, the buyer has to face the risks of ownership. Financing Incentives While this may not always be the case, buyers of new homes may benefit from the mortgage financing incentives offered via their home builders. Since most big residential construction companies also own mortgage firms or have some connections in the business, they may provide lower loan rates. In some cases, they may even cut closing costs. Because of the abovementioned reasons and more, it may work to your advantage to hire a reliable Kingston builder for your new home.
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