6 Mistakes Home Buyers Should Avoid
Home buyers are often smitten with one or two features of a home, it might be price, a swimming pool, the kitchen. But, make sure when buying a home that you don’t make these mistakes.
1. Don’t Delay The Upgrades
New Home financing is the cheapest money you will ever be able to borrow. Home Equity is seldom as cheap, plus you miss out on years of usefulness by remodeling after your purchase.
Why not use this least-expensive money to build the home exactly the way you want? Malace Homes is a builder that works with you during new home construction, tailoring the home to meet your needs exactly.
2. Calculate Costs of Major Home Maintenance.
A replacement roof on a used home may only be 5 years away, costing an unplanned $7,500 to $15,000, plus more for the accidental leakage (the reason for the new roof).
Major and unexpected replacement projects might also include exterior paint, carpet, flooring, bathrooms, and kitchens.
A new Malace Home comes with a full 30 year roofing materials warranty.
3. Buying A Home Without The Features You Need
Buying a new home without Air Conditioning in Central Oregon? You’ll only go through one summer regretting that choice. It is always more expensive and less convenient to add these features later. How much to add it on to that new home price? New home add-ons are notoriously expensive. How much to add it on after the home is finished? Even more.
Be nice to future you and take care of it now.
4. Get Real When Weighing Alternatives
Have you tried to find a remodeling contractor in Central Oregon recently? The best are busy. The rest, well… might be characterized as afraid of commitment. Then, there are the hidden gotchas behind your walls, under the floors, and behind the hose bibs.
Take those costs and add in the amount of time required to manage subs, broken promises, or doing the work yourself and risking a result of… let’s just say “redeux ready”.
Consider that a new house is fully customizable during the later phases of construction. This makes a new house is one of the best values on the market.
5. The Cost of Old Technology
Buying a house with a less efficient furnace, insulation, heat pump, appliances, or air conditioning could make a huge difference in your utility bills every year. Adding this old technology penalty to your monthly mortgage means you could afford that new Home.
6. Model Home Assumptions
Most factory builders will give buyers a tour of their model home. Be aware that these model homes are full of “optional features”. These optional features are often the nice quartz countertops, hardwood flooring, gas fireplaces with an elaborate mantle, and comfortable air conditioning.
The base price that brought you in to tour the home is almost guaranteed to be far less that the price of the home on display.
Do yourself a favor and look into buying a high quality new home from Malace Homes, where exceptional quality is always an exceptional value.