12 Ways Buying New Construction Is Better, Worse, And Way Different From Other Homes (Part 1 of 2)

Buying a new home isn't the same as buying an existing home. The more you know going in, the more prepared you'll be to roll with the process - or run from the process.

Everything all bright, shiny, and new

No one else's taste, no one else's floorplan, no one else's germs. When you buy a brand - new home, it's built for you and hasn't been lived in by anyone but you.

Decisions, decision, decisions

There are those who love the idea of selecting the flooring, the cabinets, the kitchen countertops, the finishes, and the myriad other choices that need to be made when building a new home - and then there are those who get the shakes just thinking about it. If you're the latter, perhaps an already - built home is a better option for you.

What you see is not what you get

Model homes are typically decked out with beautiful upgrades and multiple options, and those upgrades and options can cost big bucks. If you want your home to look like the model, be prepared to shell out far more money than what the base price of the house indicates.

You'll have a warranty

"Warranties for newly built homes generally offer limited coverage on workmanship and materials relating to various components of the home, such as windows, heating, ventilation and air conditioning (HVAC), plumbing, and electrical systems for specific periods. Warranties also typically define how repairs will be made," according to the Federal Trade Commission's Consumer Protection site.

The duration of coverage varies depending on the component of the house. Coverage is provided for workmanship and materials on most components during the first year. For example, most warranties on new construction cover siding and stucco, doors and trim, and drywall and paint during the first year. Coverage for HVAC, plumbing, and electrical systems is generally two years. Some builders provide coverage for up to 10 years for ‘major structural defects,' sometimes defined as problems that make a home unsafe and put the owner in danger. For example, a roof that could collapse is a ‘major structural defect.'

Home warranties are typically extendable after that first year, although you'll be responsible for the cost.