Building a new home is a big decision. There are many things to take into account, including the cost. According to Forbes, building a basic home will cost roughly $100 per square foot. While this may seem like a lot upfront, it’s important to consider the long-term savings a new home can provide. From energy efficiency to lower insurance costs, there are many reasons why building a new home is a wise investment. Read on to find out!
1. Energy Efficiency
New homes are required to meet stricter energy efficiency standards than older homes. The Texas Building Energy Performance Standards (TBEPS) require residential construction companies to adhere to energy-efficient standards when building new homes. This means your new home will use less energy to heat and cool, resulting in lower utility bills.
2. Insurance Costs
One of the benefits of owning a new home is that they often come with lower insurance costs. This is because new homes are often built with higher quality materials and construction methods, making them less likely to be damaged in a disaster. Additionally, new homes often have features that make them more resistant to burglaries and other types of crime. All of these factors can lead to lower insurance premiums.
3. Maintenance and Repair Costs
With a new home, you won’t have to worry about the cost of major repairs for many years. Additionally, new homes are often covered by a warranty from the residential construction company, which can further reduce your costs.
4. Property Taxes
Property taxes are generally lower on new homes than on older homes. This is because the value of a new home is typically assessed at a lower rate than an older home. Additionally, many municipalities offer tax incentives for new construction. This can further reduce the amount of property taxes you will owe.
5. Resale Value
One of the main advantages of owning a new home is that it will often appreciate in value more than an older home. This is because new homes are built with the latest materials and technology, which makes them more desirable to potential buyers. If you plan to sell your home in the future, this can be a major financial advantage.
When you factor in all the long-term savings, it’s easy to see why building a new home can be a wise investment. And if you are considering building a new home, be sure to consult with a reputable residential construction company like us. We will help you understand the costs and benefits of new home construction, so don’t hesitate to call us today.