Buying a new construction home can be an exciting process. The allure of a brand-new home with modern features and finishes can be hard to resist. However, it’s important to note that buying new construction homes can come with hidden costs. These costs are often not disclosed upfront and can add up quickly, leaving you with a hefty bill. In this blog post, we’ll discuss some of the hidden costs that can arise when buying a new construction home.
Upgrades
One of the biggest hidden costs of buying a new construction home is upgrades. When you’re in the process of buying a new construction home, the builder will often offer various upgrades and amenities to upgrade your home. These upgrades can include anything from upgraded countertops, cabinets to tilework, and landscaping. However, these upgrades can quickly add up and can cost anywhere from a few thousand dollars to tens of thousands of dollars.
Appliances
Another hidden cost when buying a new construction home is appliances. Many builders do not include appliances in their base price, which can result in an unexpected expense of several thousand dollars. Home buyers need to ensure that appliances are included in their contract or budget for the purchase of appliances.
Window Treatments
Another expense that is often forgotten when buying a new construction home is window treatments. Many new homeowners do not realize that window treatments such as blinds or curtains are not included in the base price of the home. Depending on the number of windows in the home, window treatments can range from a few hundred to a few thousand dollars.
Landscaping
New construction homes are often sold as “turnkey” homes where everything is ready to move in. However, this is not always the case when it comes to landscaping. While some new construction homes may come with basic landscaping, many builders leave it up to the homeowner to add landscaping to their new home. This can add several thousand dollars to the cost of purchasing a new construction home.
HOA Fees
Many new construction homes come with HOA fees that can add several hundred dollars to a monthly home buyer’s expenses. These fees are often included in the planned community’s amenities, such as security gates, swimming pools, and neighborhood maintenance.
Buying a new construction home can be a great investment. However, it’s essential to understand the hidden costs that come along with new construction homes. It’s important to budget for these costs and ensure they are included in your contract before signing. Don’t get caught off guard when it comes to hidden costs when purchasing your new home.
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