May 31, 2021
Benefits of Buying a New Home
Wine, cheese, cast iron skillets – they all get better with age. However, when it comes to real estate, new is often better than old (or in real estate terms, resale homes) and here’s why:
New Home Warranty Protection – Buying a home is often the largest financial investment of a person’s life. When you purchase a new Foxridge home, you get peace of mind knowing you are covered under Traveler Canada’s 2-5-10 Year New Home Warranty.
- 1 Year – Coverage for defects in materials and labour.
- 2 Year – Covers any defect in materials and labour supplied for the electrical, plumbing, heating, ventilation and air conditioning delivery and distribution systems. In addition, coverage for defect in materials and labour supplied for the exterior cladding, caulking, windows and doors that may lead to detachment or material damage to the new home.
- 5 Year – Coverage for the building envelope for up to five years.
- 10 Year – Covers structural defects for up to 10 years.
Lower Maintenance – Since the home is brand new, the home is unlikely to require repairs within the first few years apart from regular home maintenance (including lawn and garden care) and common deficiencies as a result of the newly constructed home naturally settling in place. If repairs are required, they will likely be taken care of by our in-house Homeowner Care Team or covered under your New Home Warranty mentioned above.
More Choice & Personalization – As with all our homes, purchasers have the ability to customize their new single family home in our Design Centres which are stocked with hundreds of samples. From flooring to countertops, light fixtures to faucets, and even down to the colour of their front door – purchasers can truly make it their own. In addition to being able to choose your colours and finishes, or adding optional upgrades like a coffered ceiling in the dining room or legal basement suite, buying new construction also gives you more choice in terms of lot location within the new community and the direction in which the home faces (we know how much people love the sunny south-facing backyard)!
Energy-Efficiency & Potential Cost Savings – New homes these days are built with energy-efficiency and environmental sustainability in mind. Here at Foxridge Homes BC, we partake in two green building programs, the BC Energy Step Code and the EnerGuide Rating System, read more about these programs here. Newly constructed homes are now built with high performance building envelopes, well insulated walls, high efficiency mechanical systems, energy-efficient appliances, and more. All these factors lead to a more comfortable home with fewer drafts and more consistent temperatures throughout allowing for reduced energy consumption (lower greenhouse gas emissions) and potentially lower utility bills.
Potential Appreciation – When buying a new home in Metro Vancouver, more often than not it is a presale purchase, meaning the home is not yet built or completed and still under construction. The lifecycle of a presale detached home purchase can range anywhere from 10 months to two years depending on various factors such as permits, trades and suppliers, the type of home builder you are buying from, and more. During this period, there is the potential for housing prices to increase and the value of the preconstruction home appreciating.
We may be biased but purchasing a newly constructed home over a resale home is the way to go. Though we’ve only listed five major benefits of owning a new home here, there are plenty more. Feel free to contact our sales team to learn more!