New Construction's Hidden Costs Can Burn Buyers

Photo: j_arred

Many homebuyers think that purchasing a brand-new home is smarter than purchasing a "used" home.

A new home's maintenance costs should be minimal; its construction materials, systems and appliances should be up-to-code and energy efficient; the floor plan and amenities should meet the needs of modern buyers; and the home should be move-in ready.

A new construction home also has an emotional appeal for buyers who like the idea of living in a home that's completely clean and potentially perfect.

What many buyers don't realize is that new homes often have numerous hidden costs.

If you're considering new construction, learn what you should look out for to make sure you're spending your money wisely and you don't experience any unpleasant surprises in my Investopedia article, New Construction's Hidden Costs Can Burn Buyers.

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