New home construction on Long Island is very different than a home resale. It has many advantages, but you have to know them well.
New Homes vs. Used – The Benefits
You have much more down payment posting flexibility in new construction. You can post successive down payments while the home is being built so you don’t have initial onerous posting requirements like you do on resale.
New homes on Long Island often come with warranties. With resales, you may have to fix your homes on weekends, instead of enhancing your lifestyle with kids and family which is priceless. Luxury builders offer 100% turnkey projects so you have nothing to do except move in.
With new homes, you have wide flexibility in delivery times ranging from 2 months to 18 months. Sellers of resale homes will typically not afford people this time. This helps a lot of families plan and custom tailor their life’s dynamics – getting married, having a baby, saving money, moving jobs, moving areas, etc. Many home builders will also wait for you to sell your current home. You also get the charm of customization of color and design when you go new.
Values are often insulated better and appreciate faster with new construction, as all the homes on the block may be new and full of upgrades with fresh monetary investment coming in from all sides. You also often get state of the art technologies when buying new and the homes have the most up-to-date building codes and are energy star compliant.