Pros and Cons of Buying New Construction in Denver

Did you know two out of five Coloradans prefer New Homes over “pre-sold”? The term “New” home refers to a home that’s never been lived in or is in pre-construction phase.

If you’re considering new construction, here’s a list of advantages (and some disadvantages) of buying a new home:

Pros of Buying a New Home

  • Home buyers can work with the Builder to customize their new home and select finishes, colors, and materials to suit your tastes.
  • You’ll be getting a turn-key, move in ready home – no need for paintbrushes or rehab projects.
  • New homes blend today’s lifestyles with current design trends. You’re getting the latest in home automation, open floorplans, energy efficiencies, and more.
  • You’ll most likely avoid repairs to new appliances, HVAC, sprinkler systems, plumbing, electrical, etc. for a few years.
  • Home buyers might pay a higher price now (20% average), but you get what you want when you purchase the new home right away instead of spending dollars for upgrades later.
  • You’re not inheriting someone else’s memories, décor, design choices, DIY projects, dusty ductwork, etc. A new home is all yours!
  • New developments in Colorado often include green space with trails, Rec Centers, and Community Centers for public concerts and events.
  • New homes are often in more suburban locations. In Colorado, suburbs often mean incredible mountain views and access!

Cons of Buying New Construction

  • If you seek an urban environment, most new construction developments are suburban. That being said, Downtown Denver does have numerous “rehab” loft projects, including townhomes and new builds. Find the most current listings of homes for sale in Colorado.
  • Home buyers considering new construction homes may have limited options on exterior elevations, and typically, smaller yard spaces.
  • Buyers that purchase first in a new development will be living in a construction zone for a few years.
  • New home buyers will have a while to wait for mature landscapes and the community to establish and develop.

If you are considering purchasing a new home, select an experienced, licensed REALTOR to help you negotiate the best deal with the Builder. Your REALTOR can help you weigh the pros and cons of buying a new home. Your agent will set up searches based on your needs to help you find the home that fits your lifestyle.

For more information about new construction in Colorado, visit the Buying New Construction page on REcolorado.com.

 

Originally published May 22, 2017 — Updated June 19, 2018