by Emily Hechler 
Many Americans, including myself, dream of owning a brand-new home. However, having a house built with a home builder can be a lengthy process that often requires juggling multiple loans. So, how do can you get the benefits of a new home without the challenges of the construction process? Buy a prebuilt home. Builders often sell the model homes in a community once the other lots in a community have sold. Sometimes, they even just build extra houses on lots to sell them as-is for those who are ready to move.
I’m already convinced I want to buy a prebuilt house in a few years. If you’re on the fence about buying a prebuilt house, check out these benefits.
Earlier Move in Date
If you buy a prebuilt house, you can get under contract, close, and move in very quick. When you work with a company to build a house instead, the process can take months or even years to build and be ready for you to live in. ProBuilder says that the current average time it takes to build a new house in 9.1 months. Any setbacks due to weather, supply chain issues, or other unexpected problems can easily increase this wait time. Buying an existing house allows you to start building your life in your new community right away.
Less Decisions During the Process
While building a house can be exciting, the process involves a lot of decision making. What backsplash do you like the best? Granite or marble countertops? Carpet or wood floors? Add that to the fixtures, exterior design choices, and the many other customizations that may be available and you’ll likely experience decision fatigue or overload. Plus, most changed or additions come at a higher cost. If your budget is more important, you’ll have to go without these upgrades. However, if the upgrades are more important, it’ll be easy to overspend. If you buy a new prebuilt home, the design and customization decisions were made by a professional designer, so you’ll be able to sit back and enjoy the final result.
Potential Better Sale Price
Speaking of higher costs, building a new house is expensive and has the potential to keep increasing in price as you add customizations. Many homebuilders in St. Louis, such as Rowles, offer discounts on new homes that are already built. Often, they just want to quickly sell the property. These are often called “quick-move homes” on various builders’ websites to make them easy to find. You can negotiate the price just like you would if you were buying a home from a homeowner too. Plus, you won’t have to get a construction loan and a mortgage. That’s one less loan for you to manage.
Benefit from Warranties
Purchasing a new home from a builder often comes with builder warranties that cover major systems like electrical and structural defects. This can give you peace of mind knowing that you have the safety net of the builder to address certain issues that may arise after your purchase. When you buy a home that’s a few or several years old from a previous homeowner, you have to pay for all the risks as they come.
When I bought my house last year, we had an incident with collapsed pipe a few months after we moved in. We didn’t have a new-build home with a warranty. As a result, we had to pay for the repairs out of pocket with a little help from insurance.
Newer Neighborhood
One perk of buying an existing but new home from a homebuilder is that you will be moving into a newer but potentially established neighborhood. Assuming that you purchase one of the last homes available in the neighborhood, you can take advantage of the growing community without the noise that comes from new construction. Although you may have some ongoing noise from other amenities, buildings, and neighborhoods as the area continues to grow, you’ll be a short walk or drive away from the latest spots in town.
Wise Investment
Buying a prebuilt home is a wise financial investment with the potential for significant value appreciation. For example, purchasing a home from McBride Homes for $350,000 today could see its value rise to $425,000 in 10 years. This $75,000 increase translates into equity, boosting your net worth without requiring extra mortgage payments. Additionally, purchasing a new home in a developing subdivision can accelerate equity growth in just a few years since the other homes around yours are now completed.
Get a Mortgage from Alltru
If you want to buy a quick-move home, come to Alltru to get your mortgage. The timeline from applying for your mortgage to closing on your home will take around 60 days, ensuring you can settle into your new home quickly and stress-free. While we don’t currently offer construction loans, you can still enjoy the benefits of living in a brand-new house without the lengthy construction process. It’s a win-win situation! When you’re ready to buy your new home, visit The Better Way to Bank to start.
