Buying New Construction In Denver: The Pros And Cons

 

Posted by Damon L. Chavez on Tuesday, May 23rd, 2017 at 8:51am.

May 16, 2017 / REcolorado.com, by Jamie Froyd   Did you know two out of five Coloradans prefer New Homes over “pre-sold”? The term “New” home refers to a home that’s never been lived in or is in pre-construction phase.

If you’re considering new construction, here’s a list of advantages (and some disadvantages) that may interest you:

PROS:

- You can work with the Builder to customize and get the finishes, colors and materials to suit your tastes.

- You’ll be getting a turn-key, move in ready home – no need for paintbrushes or rehab projects.

- New homes blend today’s lifestyles with current design trends. You’re getting the latest in home automation, open floorplans, energy efficiencies and more.

- You’ll most likely avoid repairs to new appliances, HVAC, sprinkler systems, plumbing, electrical, etc. for a few years.

- You might pay a higher price now (20% average), but you get what you want now instead of spending dollars for upgrades later.

- You’re not inheriting someone else’s memories, décor, design choices, DIY projects, dusty ductwork, etc.

- New developments in Colorado often include greenspace with trails, Rec Centers and Community Centers for concerts and events.

- In Colorado, more suburban locations usually mean incredible mountain views and access! 

CONS:

- If you seek an urban environment, most new construction developments are suburban. That being said, Downtown Denver does have numerous “rehab” loft projects and new builds. and townhomes going in. Find the most current listings here.

- You’ll have more limited options on exterior elevations, and typically, smaller yard spaces.

- Buyers that are first in a new development will be living in a construction zone for a few years.

- New home buyers will have a while to wait for mature landscapes and established community to develop. 

- You can choose to work with the Sales Counselor at the development, or select an experienced, licensed REALTOR to help you negotiate the best deal with the Builder. 

- For more information about new construction in Colorado, visit the Buying New Construction page on REcolorado.com