Purchasing new home construction in Southern Nevada comes with its pros and cons. Depending on your situation, a new construction home may be the perfect option. And, if it is the best option, there are lots of new construction homes being built across the Vegas valley. But first, you need to know the pros and cons of new home builders.
The Pros of New Home Construction
New construction homes come with a lot of pros – the biggest pro for most people is knowing they will live in a brand new home that’s never been lived in before. New homes are also built to be energy efficient, which means you will pay less in utility bills over time.
Plus, new construction homes can come with a builder’s warranty that can save you in case of a builder defect or appliance issue. Lastly, going with a new home build means you can customize your home to be exactly what you want. But be careful, every customization is an upgrade and will cost you extra money.
Cons to New Home Builders
The price you see when shopping for a new home is just the base price. Like I mentioned above, every little upgrade you want will add up to a higher price on the total sale of the house. When shopping for new homes, you have to factor in lot premiums, structural options, design upgrades, and possibly architectural changes.
If you want your move time to take three months or less, new construction homes are not the best option. In fact, the process of buying a new home and seeing it be built can take 10 months or longer. Due to the overwhelming demand for new construction homes, there has not been any standing inventory to choose from. While you might find an occasional quick move-in property, you will not be able to choose any of the finishes. And construction times are even longer these days due to supply and labor shortage issues.
Also, If you’re one of the first to sell in a new home community, make sure to hire a real estate professional that knows how to navigate this specialized situation. Since you cannot use the value of other new construction properties to come up with the value because you are selling essentially a “used” home, you need a real estate expert.
Tips to Buying a New Home in Vegas
- Take your trusted real estate advisor with you on the first visit or you will not have representation throughout the home buying process.
- The on-site sales agents work for the builder not you, so make sure you bring a real estate agent to represent you.
- Research the builder and neighborhood, something your trusted real estate advisor can help with.
- Keep resale value in mind when selecting upgrades – adding 20% max is a good rule of thumb
- While you may want to get a home inspection, most builders do a thorough walk through and remember you still have a warranty on every system in your home. Also, make sure that the builder you’ve chosen allows an independent inspection, some do not.
- Incentives are out there but they vary. Make sure you bring your trusted real estate professional with you on that first visit so they can help you navigate the best incentives for you.
New Home Construction in Summerlin
Newer homes have been popping up in the Summerlin area, here you can find many different communities like the Ridges, the Vistas, Paseos, Summerlin West and so many more all over Southern Nevada. If you are thinking about purchasing a new home build in Summerlin, or anywhere in the Las Vegas area, reach out, and let’s talk.