New Construction: Is it Right for Me?
Aug 16, 2021 Brooklyn broker,brooklyn real estate,brooklyn realty,building projects,construction,development,new buyer,New-Construction
New construction is a beautiful thing — literally. But as with everything, there are two sides of the story. Let’s see if new construction in Brooklyn is the right buying choice for you.
What is New Construction?
This term is used to describe a project that starts from the bottom up. You’re buying a new development before it’s even built, which means you could be sold by the blueprints, model units, or something that has four walls but not all its finishes – not the finished product.
Pros of New Construction
One of the most obvious pros of “new construction” is that everything is brand-spanking new. No old-school leaky roofs or wacky electrical wiring from the 18th century; everything is built to today’s standards and – if your budget allows – with the latest appliances.
Another pro is the opportunity to personalize your home to your specifications. You don’t have to settle for what’s out there, since you’ll be in control of your own environment. Plus, instead of buying your home and then shelling out thousands of dollars in remodeling or repair costs, you’ll be able to start from scratch. Think: instead of fixing, you’re building.
Cons of New Construction
Getting exactly what you want can cost you a pretty penny. Though you’ll save money on the back-end, you’ll still have to lay the money out upfront. And depending on your budget, you might have to keep your dreams closer to reality since your budget is mostly building costs, taxes, and other costs associated with the project.
Something else to consider is that very rarely does new construction stick to a designated timeline. The unexpected is expected when it comes to building new, and there are a lot of opportunities for things to go sideways. So if you’re looking to move in a hurry or by a specific deadline, new construction might not be the way to go for you.
How Do I Know if New Construction is Right For Me?
At the end of the day, you have to weigh all the pros and cons of new construction to determine if this is the path you should take. You’ll have to consider your budget, where you want to live, what your standards are, what your move-in requirements are, etc. So, for this decision, it’s really up to you.
What we can add, though, is that we are here always to help talk you through the decision, the process, and even give you some great recommendations for people you’ll need on your team. Get in touch today!