Budgeting for Buying New-Construction
It’s easy to see the appeal of buying a brand-new home. You may be able to customize the layout, select finishes, and add fine personal touches. These often come at a cost –and, keep in mind, resale homes can easily be customized as well
When it comes to things you need to buy for your pre-construction home, first and foremost are your kitchen appliances and your washer and dryer.
The builder may include appliances as part of the purchase package, but if they do, remember you’re probably getting entry-level quality, which may not appeal to you. For example, today’s fridges come with various features like selecting a counter-depth fridge for a more built-in look –this is always a good idea, water and ice dispensers, and some newer models even include built-in television screens. You can look into whether your builder offers an upgrade option, or in some cases, you may be able to get a credit if you go out and buy your own.
You may also get appliances for a better price if you buy them yourself, especially if you can take advantage of a sale. Buying appliance bundles can also save you a significant amount of money.
Fencing and Landscaping
Once the property has been graded, you may want to put up a fence, especially if you have a dog or young children or want some privacy from nosy neighbours. Fences will easily cost you a few thousand dollars, and remember you can’t install them for a few years, or you risk the builder removing them to perform grading repairs.
A deck or patio and landscaping may also be on your outdoor wish list. While these are commonplace inclusions for existing homes, when you buy new, you’re starting from scratch. It’s easy to underestimate the cost of outdoor projects, but they’ll increase the home’s value, make it more inviting, and expand your living space. You can expect to pay roughly 5 to 10 percent of your home’s value on decent landscaping.
When you buy a resale property, window treatments will be part of the deal, although you may wish to replace them, but, typically nothing is included with pre-construction purchases. Whether you choose shades, drapes, or newspapers, they’re an integral part of the home’s décor as well as offering privacy. Prices vary widely, depending on whether you choose store-bought or customized blinds. Size, style, and material will also impact the overall cost.
For example, aluminum slat blinds, which are probably the most budget-friendly option can vary from $48 to $400, according to this Home Depot chart.
Things to think about in this category include air conditioning, a garage door opener, and a home security system.
If you want information about buying or selling a home, contact KT Realty at 1 (800) 617-0090.