We’re going to resist the temptation to elaborate on the pressure Larry Fortensky must have felt the night he became Elizabeth Taylor’s seventh husband. Suffice it to say that if instead of tossing a garter to a bunch of his best buddies Larry had been shopping for a new home, he was definitely focused on the “pre-owned” market.
It’s not for everyone.
If you want the honeymoon phase of your next home to be something Madonna sang about, you should consider new construction. Doing so guarantees that everything in the house is new and that you will be the first one to … er, huh … use it.
Other benefits may include — at least to some degree, and depending on when you enter a contract —the ability to select your own finishes, fixtures, and décor; the inclusion of the latest in energy efficiency, building science and home automation; cutting edge architecture and design; and a builder’s warranty which can give you some piece of mind while your new home takes root.
New homes can be built as “spec” projects, which means that the builder or his investors is speculating on the sale of the home once it is completed, or as custom client-financed projects in which the homeowner pays for the construction costs on defined intervals, usually monthly. Both would be considered new construction but while spec homes are available with limited plans and material selections, truly custom homes give you the ability to fully design and plan the home of your dreams.
All new construction involves a ton of planning, decision-making (either by the homeowner, the builder, or an architect/designer), engineering, and permitting through a local building authority. Bare dirt must be moved and improved with utility infrastructure. Foundations must be excavated and poured. And a herd of trade partners and suppliers must be lined up to do everything from framing the structure and putting a roof overhead to shipping and installing the porcelain throne that sits in your new master bathroom.
