Pros of New Development Homes
Value: They can be good value and give the space you need without the premium price tag of an older home.
Modern: There’s a lot to be said for modern appliances, electrics, plumbing, and contemporary design. Many people enjoy the feeling of a brand new home, not to mention not having to worry about repairs.
Communities: Developments are often close-knit communities with communal areas, which many people like. Homeowners’ associations are often established in new developments.
Choose your finishes: Depending on the development and price level, you might be able to choose certain furnishes and layouts.
Cons of New Development Homes
Cookie cutter style: These homes are often very generic with entire neighborhoods looking the same. If you like individuality, they’re not for you.
No charm: People who like the charm that comes with an older property will be disappointed with a new development home.
Quality varies enormously: Many modern homes are not finished to a high standard. Some developers will cut corners, leaving you with costly repairs. At best this could be cosmetic, at worst it could be structural.
Outside Space is often limited: In new homes, the back yard areas tend to be smaller than with older homes of the same size.
3 Golden Rules when Considering a New Development Home
“Buy the builder”: This means only considering developments by reputable builders with a track record of developing high quality homes. Do your research and ask a round. Calling planning departments and local real estate agents is a good start. Ask if developers finish their projects on time and fulfil their contractual obligations. Draw up a list of quality developers and ones to avoid, based on criteria like build quality, warranty, customer service and reputation.
Carry out Inspections: Have inspections carried out during the process and after. This ensures that the developer is doing everything it agreed to. A contractor can examine the quality of the work, allowing you the opportunity to get it changed before it is too late. When completed, take a final walkthrough to check for defects or shortcomings.
Always get a Warranty: Make sure the home comes with a warranty provided by an independent insurance provider. Developer warranties may not be up to scratch, so always ensure that the warranty covers repairs for a fixed period and includes plumbing, electrical, heating, AC and structural defects.