The Pros and Cons of Buying New Construction

New Construction Esplanade at Hacienda Lakes

• Ability to select finishes, appliances, flooring and other upgrades
• Financial incentives are often offered if you use the developer’s in-house financing company to get a mortgage
• New homes meet or exceed the most up to date building standards and codes
• With brand new appliances, plumbing, heating, and air, you should be repair free for at least a few years
• You get to choose your lot of land and location within the community
• Have options such as a lake view, preserve view or no view
• Most developer contracts have a year long construction warranty to repair or replace anything that is defective

Cons:

• Amenities in the community can really add up. Homeowners Associations and gated communities are marked up heavily for the construction company’s profit and can end up costing you far more than you ever intended
• Brand new homes can cost more – sometimes up to 20% more than a similar existing home.
• Developer contracts are often written to favor the developer and allow the timeline of your build to be delayed, sometimes for several months with no provision to get out of the contract
• New homes have to settle and issues that arise from a poorly built home can often happen a couple years after the warranty expires. For example, a poorly set foundation could crack after the home settles

In Naples and Collier County there are several opportunities to buy a move in ready home. This is a home that is new but already completed. All the fixtures, floor choices, kitchen cabinets and other details have been chosen. Some prefer to pick their lot of land and customize every detail of the build. This is where a quality buyers agent can help you find deal that are not listed online as we have direct contact with the builders agents on a regular basis for upcoming inventory and specials. 

Some of the larger home builders in Naples and Marco Island area include Lennar, Pulte, Taylor Morrison, D.R. Horton and Minto. There are also many custom home builders in the area. A quality buyer’s agent like Marc Scoleri at Premiere Plus Realty can assist you in identifying the best builder for your needs.