Home Buying in Seattle>Question Details

Ruben Velazq…, Home Buyer in Mukilteo, WA

What are the negatives of Purchasing a New Construction Home in Lake Stevens? Thanks!

Asked by Ruben Velazquez, Mukilteo, WA Mon Feb 11, 2013

Location 99th AVE NE & 101st AVE NE

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Sarah Heath’s answer
I also agree with Ray below on the idea that a new home can generally lose a small bit of equity in the first year, although from what I've seen representing both builders & buyers in Snohomish County over the past year I don't know how much that is the case right now - values have risen so much that many north end communities have increased prices up to $30,000 + on the same floor plan from six months ago (frustrating several of my buyers who weren't quite ready back then).

I think its more of a taste of personal preference - obviously with new construction, you're likely going to end up with a smaller lot size - is that important to you? Benefits can include choosing your finishes & colors (if you buy early enough in the construction stage), and as Ray said, you'll get a warranty. New communities tend to come with monthly dues too, but they're usually fairly low (around $50/month maybe, on average) and help to maintain the community. Lots to think about!
1 vote Thank Flag Link Tue Feb 12, 2013
THANK YOU!
Flag Tue Feb 12, 2013
I agree with Ray, so you just have decide if the negatives outweigh the positives. This is best done by consulting with your own buyers agent who represents your best interests & does not care which house you buy. If you do not already have one, I would get hooked up with one right away.

I would suggest, that as a buyer, you Google every agent that responds to your question here on Trulia, learn as much as you can about who they are online, read their client testimonials, so you know what their clients are saying about them, and then give us each a call and just ask us why we think you should work with us instead of another agent. This will take you a little while to do, but will be time well spent, as choosing the right agent is the first step towards choosing the right home. Then, pick the best fit for you and let them go to work for you with the skill and knowledge that they have. I hope to hear from you soon.

Good luck to you in any case,
Jirius Isaac
Isaac Real Estate Team
Champions Real Estate Services
TriStar Finance #MLO-107799
Office: 425-483-6849 Cell: 206-841-9976
Winner of Seattle Magazines 5 Star
Real Estate Agent Best in Client Satisfaction Award
Mortgage Loan Originator Best in Client Satisfaction
1 vote Thank Flag Link Mon Feb 11, 2013
There are a few negatives to purchasing any new home. First, new homes typically lose a bit of value in the first year or so, not unlike a new car. In my experience, it's something like 4%-5%. Although you will recover any ---and build equity--- if you stay in the home 3 to 5 years. Even though new homes are built to the latest building codes, most new homes don't have that rock-solid feel of an older homes. New homes often have warranties, but I've seen data which indicates the warranty companies spend more money fighting homeowners, rather than settling claims. You may pay top-dollar for a new home, compared to an older home. Don't be afraid of buying an older, and putting in the time and money to make it 'new' again. Good luck.
1 vote Thank Flag Link Mon Feb 11, 2013
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