{"id":1019,"date":"2020-08-07T13:15:25","date_gmt":"2020-08-07T13:15:25","guid":{"rendered":"https:\/\/baycoast.bank\/?p=1019"},"modified":"2023-06-13T21:55:46","modified_gmt":"2023-06-13T21:55:46","slug":"is-a-new-home-right-for-me","status":"publish","type":"post","link":"https:\/\/baycoastmortgage.com\/en\/insights\/is-a-new-home-right-for-me\/","title":{"rendered":"Is a New Home Right For Me?"},"content":{"rendered":"<div class=\"lazyblock-resource-hero-ZDAsHn wp-block-lazyblock-resource-hero\"><div class=\"noHero\" style=\"height: 10rem;\"><\/div>\n\n<div class=\"spacer\"><\/div>\n\n<div class=\"section\">\n\t<div class=\"smallWrapper gutenberg\">\n\t    \n\t    <div class=\"categories flex\" style=\"justify-content: flex-start;\">\n\t\t\t<div class=\"h6\" style=\"margin-right: 2rem;\"><a href=\"https:\/\/baycoastmortgage.com\/resource\/insights\">Insights<\/a><\/div>\n\t\t\t\t\t\t\n\t\t\t<div class=\"primaryColor dot h6\" style=\"transform: scale(2.2); \">\u00b7<\/div>\n\n\t\t\t<div class=\"h6\" style=\"margin-left: 2rem;\">\t\t\t\tAugust 7, 2020        \n\t\t\t<\/div>\n\t\t<\/div>\n\t    \n\t    <h1 class=\"h2 blue bgWhite\" style=\"max-width: 50rem\">Is a New Home Right For Me?<\/h1>\n\t    \n\t    <hr style=\"margin-bottom: 7rem;\">\n\t  \n\t<\/div>\n\t\n\t<div class=\"wrapper\" style=\"justify-content: center; max-width: 90rem;\">\n\t\t<div style=\"width: 100%; position: relative;\">\n\t\t\t<img decoding=\"async\" data-src=\"https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min.jpg\" role=\"img\" aria-label=\"Is a New Home Right For Me?\" style=\"--smush-placeholder-width: 2120px; --smush-placeholder-aspect-ratio: 2120\/1414;width: 100%; height: auto;\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" class=\"lazyload\" \/>\n  \t\t<\/div>\n\t<\/div>\n<\/div>\n\n          <\/div>\n\n<div class=\"lazyblock-interior-content-ZnRT21 wp-block-lazyblock-interior-content\"><div class=\"spacer\"><\/div>\n\n<div class=\"section\">\n\t<div class=\"paddedWrapper\">\n\t\t<div class=\"wrapper flex gutenberg\" style=\"justify-content: center;\">\n\n\t\t\t\n\t\t\t<div class=\"smallWrapper gutenberg\">\n\n\t\t\t\t<div class=\"h3\"><\/div>\n\n\t\t\t  \t<hr style=\"margin-bottom: 5rem;\">\n\n\t\t\t\t<!-- interior content -->\n\t\t\t\t\n\n<p>In a market filled with homes of all shapes and sizes, it\u2019s easy for homebuyers like you to become completely overwhelmed by the number of choices available. Of all the decisions you\u2019ll make, choosing whether to buy a new home or a home on the resale market can be one of the biggest.&nbsp;<\/p>\n\n\n\n<p>There\u2019s no right or wrong answer\u2014buying new construction or a previously lived-in house is a personal choice. Each type of home has benefits, as well as things to think about before signing on the dotted line.&nbsp;<\/p>\n\n\n\n<p>Let\u2019s take a look at a few key areas to focus on, in hopes of helping you decide whether new or \u201cnew-to-you\u201d is right for you and your family.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The True Cost of Buying or Building a New Home<\/h3>\n\n\n\n<p><a href=\"https:\/\/www.realtor.com\/news\/real-estate-news\/existing-home-sales-january-2018\/\" target=\"_blank\" rel=\"noopener\">Realtor.com<\/a>&nbsp;looked at recent home sales&nbsp;, and found that the median cost of a new home was about 30% higher than what\u2019s referred to as an \u201cexisting\u201d home.&nbsp;<\/p>\n\n\n\n<p>At first glance, it might seem like your money will go further on the resale market. However, if you\u2019re looking at previously owned homes, be aware that the \u201cextra 30%\u201d you\u2019re saving by purchasing a resale can quickly get swallowed up in any renovations or updates you need, in order to make the home feel like your home. The costs of paint, upgraded carpeting, and appliances\u2014along with expensive changes to kitchens, bathrooms, and landscaping\u2014add up quickly.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Buying a new home means the house (and everything in it) is just that\u2014brand-new.<\/strong>&nbsp;Depending on when you sign a contract, you might be able to choose colors, upgrades, and other options, to make the home you\u2019re buying reflect your personal tastes long before you\u2019re handed the keys. So, from the appliances, to the paint on the walls, you\u2019re the first and only owner. That\u2019s where much of the extra cost comes in\u2014your builders are only passing their costs on to you.&nbsp;<\/li>\n\n\n\n<li><strong>Just because you\u2019re buying a new home from a builder doesn\u2019t mean you have to pay sticker price.<\/strong>&nbsp;Don\u2019t ever be afraid to negotiate, just as you would with the owner of an existing home. You could get features and upgrades \u201cthrown in\u201d for free and even get the sales price reduced. And if a new home community is near the end of a particular building phase, is getting ready to close sales for good, or has a few homes that have been sitting a while, even more incentives and discounts may become available.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>Whether you\u2019re looking at resale or new construction, make sure you factor in additional costs like home warranties, neighborhood amenities, and community HOA fees.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Be sure you get your own inspection<\/strong>&nbsp;(yes, even on a new home), and carefully review any disclosure statements that would reveal issues related to the house or property you\u2019re buying.<\/li>\n\n\n\n<li><strong>Get a warranty.<\/strong>&nbsp;Period. Your new home should come with a year-long warranty from your builder, which will be included in the sales price. If you\u2019re looking for a resale home, ask the seller to buy a warranty for you as a condition of your purchase.&nbsp;<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Features<\/h3>\n\n\n\n<p>We\u2019ve touched on this a bit already, but new and existing homes each have distinct features that the other simply can\u2019t offer:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Looking at previously built homes for sale in completed neighborhoods gives you a much better feel of each community&#8217;s distinct vibe.<\/strong>&nbsp;You\u2019re able to see everything from the number, sizes, and types of trees in the area, to how well the community\u2014and the homes in it\u2014have been cared for. If there are schools, pools, and other amenities available to residents, be sure to visit at different times to measure traffic, overcrowding, and overall satisfaction.<\/li>\n\n\n\n<li><strong>Resale homes give you insight into their past<\/strong>, whether they\u2019re a year or two old, or have been around for more than a century. A previous owner may have already added the fence, deck, or patio you\u2019re looking for, built a series of raised garden beds, or even finished off the basement.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>And if an existing home has already been upgraded and renovated to your liking? Congratulations\u2014that\u2019s where the real value comes into play. Just be sure to find out what conveys, meaning what stays with the home after you close. Nothing ruins move-in day more than realizing the fancy washer-dryer combo you fell in love with during a walkthrough wasn\u2019t included in the sale, and has since joined the previous owners at their new home.<\/p>\n\n\n\n<p>With new construction, it\u2019s important to determine just how far along each community is, in terms of completion.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>A builder\u2019s \u201cearly-buyer\u201d pricing may be what brought you onto the property, but discounts are there for a reason.<\/strong>&nbsp;Maybe an additional 400 homes\u2014including the ones in front of, beside, and behind your home\u2014are going to be built after you\u2019ve moved in. So, not only will you have hammer-and-nail construction to deal with, but a mass of construction vehicles coming and going might become your 6 a.m. alarm clock.&nbsp;<\/li>\n\n\n\n<li><strong>Ask plenty of questions about the community.<\/strong>&nbsp;Take those \u201cCOMING SOON\u201d amenities (like on-site community centers, pools, and gyms) shown in beautiful watercolor sketches online and in brochures with a grain of salt\u2014because completion dates might be significantly delayed; or worse, they might never come.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">We\u2019re Here to Help<\/h3>\n\n\n\n<p>When it comes to purchasing a new or existing home, there\u2019s really no right or wrong answer. In either case, we\u2019ll be there with financing that\u2019s just right for you.&nbsp;<a href=\"https:\/\/baycoastmortgage.com\/about-us\/contact-us\/\">Contact Us<\/a>, or call 877-466-2678, and let one of our experienced BayCoast Mortgage lending professionals walk beside you on your path to homeownership.<\/p>\n\n\n\t\t\t<\/div>\n\n\t\t<\/div>\n\t<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Let\u2019s take a look at a few key areas to focus on, in hopes of helping you decide whether new or \u201cnew-to-you\u201d is right for you and your family.<\/p>\n","protected":false},"author":10,"featured_media":1531,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2],"class_list":["post-1019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min.jpg",2120,1414,false],"thumbnail":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min-150x150.jpg",150,150,true],"medium":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min-300x200.jpg",300,200,true],"medium_large":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min-768x512.jpg",768,512,true],"large":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min-1024x683.jpg",1024,683,true],"1536x1536":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min-1536x1024.jpg",1536,1024,true],"2048x2048":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min-2048x1366.jpg",2048,1366,true],"gform-image-choice-sm":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min.jpg",300,200,false],"gform-image-choice-md":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min.jpg",400,267,false],"gform-image-choice-lg":["https:\/\/baycoastmortgage.com\/wp-content\/uploads\/2020\/08\/Couple-with-Realtor-Using-Tablet-min.jpg",600,400,false]},"post_excerpt_stackable_v2":"<p>Let\u2019s take a look at a few key areas to focus on, in hopes of helping you decide whether new or \u201cnew-to-you\u201d is right for you and your family.<\/p>\n","category_list_v2":"<a href=\"https:\/\/baycoastmortgage.com\/en\/.\/insights\/\" rel=\"category tag\">Insights<\/a>","author_info_v2":{"name":"BayCoast Marketing","url":"https:\/\/baycoastmortgage.com\/en\/author\/marketingbaycoastbank-com\/"},"comments_num_v2":"0 comments","publishpress_future_action":{"enabled":false,"date":"2026-04-20 18:11:07","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/posts\/1019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/comments?post=1019"}],"version-history":[{"count":0,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/posts\/1019\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/media\/1531"}],"wp:attachment":[{"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/media?parent=1019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baycoastmortgage.com\/en\/wp-json\/wp\/v2\/categories?post=1019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}