5 Hidden Costs in
New Construction
Buyers Should Know

skip potential headaches!

Are you considering buying a new home? Perhaps you’ve marveled at the stunning model homes in your housing market, imagining yourself living in such splendor.Ā 

But before you take the leap into new home builds, there are some crucial aspects you should be aware of. In this post, we’ll uncover five hidden costs in new construction properties that might just change your perspective.

Beware of Model
Home Illusions

Model homes are designed to dazzle and entice potential buyers, showcasing the epitome of modern living. However, what you see isn’t always what you get. Many of the lavish upgrades and features displayed in model homes might not be available for purchase. It’s essential to temper your expectations and realize that not all the bells and whistles may be within reach.

The Price of Upgrades

Upgrades in new construction homes can come with a hefty price tag. Beyond the base price, which often includes standard, builder-grade features, buyers can end up spending an additional 5 to 20% on upgrades alone. From premium flooring and kitchen appliances to luxury bathroom fixtures and outdoor amenities, the costs can quickly add up. Factor in landscaping requirements, and the financial investment becomes even more significant.

Hidden Costs in New Construction

Patience is Key:
Timeline Considerations

Buying a newly constructed home often comes with an extensive timeline. From the initial stages of construction to move-in readiness, the process can take an average of 10 months. Delays due to weather, supply chain issues, or unforeseen circumstances can further prolong the wait. It’s essential to consider your timeline and weigh the advantages of customization against the potential wait time.

Know Your Representation

When dealing with new construction, it’s crucial to understand that the sales representatives at these communities work for the builder, not you. While they may offer assistance throughout the process, their allegiance lies with the builder’s interests. Having a buyer’s agent by your side ensures you have someone advocating for your needs and protecting your interests throughout the transaction.

Hidden Costs in New Construction

The Shocking Truth
About Property Taxes

One of the most surprising aspects of purchasing a new construction home is the hefty property taxes that come with it. In many markets, including Nevada, property taxes for new construction homes can amount to a staggering 1% of the purchase price. This significant expense adds to the overall cost of homeownership and is something buyers should factor into their financial planning.

Stay Informed

While the allure of a brand-new home is undeniable, it’s essential to approach the process with a clear understanding of the potential pitfalls and hidden costs involved. By being informed and prepared, you can navigate the world of new construction with confidence and make the best decision for your lifestyle and financial well-being.

If you’re considering purchasing a home in the vibrant Reno-Sparks area or have any questions about the real estate market in Nevada, feel free to reach out. My name is Sarah, I’m a local real estate professional in the Northern Nevada housing market, and I’m here to provide expert guidance and support every step of the way!

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