Greenwich Time - November 7, 2014
Having just closed on a newly constructed home for one of my clients, I have had a recent experience that included both positives and negatives typically seen in a new construction purchase. The obvious positive about buying a brand new home is that the buyer is purchasing a home that no one has ever lived in. The paint will be fresh, the wood will be clean, the appliances will be in mint condition, and the house will be brand new. With a newly-constructed home, you also get modern layouts, which normally include high ceilings, open floor plans and a fair bit of architectural focus on layout and flow.
On the flip side, there are some drawbacks to buying a newly-constructed home that buyers might not realize. In addition to price (material costs are increasing and labor in this area is not inexpensive), one downside of buying and moving into a new home is that there can be minor issues that pop up since the house hasn't been lived in. A fuse that pops, a window that sticks, some cracks in the paint, an outlet that breaks - these are all minor items that can and will happen to the first owners when they buy a brand new home and "break it in." Houses are complex structures and without actually living in them, it is extremely hard for a builder to iron out every single kink. This applies for even the best builders in the industry and is the reason that buyers have warrantees. When you buy a newly-constructed home, don't be worried if there are minor issues to work out within the first few weeks and months of ownership.
-Scott Elwell
Scott Elwell Fieldstone Group of Sotheby 's International Realty Stevens | Toepke | Kencel | Elwell One Pickwick Plaza, Greenwich, CT 06830 Mobile: 203.940.0444 | Fax: 203.930.2808
