There’s an element of risk involved in every major purchase, and that includes buying a house. Some people enjoy, or make their living off of, taking risks on fixer-upper homes. However, when you’re purchasing your first home, the one you and your family are going be living in, chances are you want to minimize your risk as much as possible. But just how do you do this?
Well, purchasing a new construction home is one of the best ways to significantly reduce your risk. You might be asking, why is that?
Top 5 Reasons Buying New Construction will Reduce Risk
There are a lot of reasons why a new construction home inherently comes with less risk than older home. Keep reading to discover our top five.
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Reduced Chance of Maintenance Issues
One of the largest risks that comes with buying an older home is potential maintenance issues. Even with a home inspection, you never really know if something might be on the verge of breaking or falling apart.
Unexpected maintenance costs can have a major impact on your budget and your ability to afford your monthly payments. When you purchase a new construction home in Edmonton, your risk of something breaking goes down significantly.
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Peace of Mind from New Home Warranty
Speaking of unexpected maintenance costs, when they crop up in older home, you’re usually totally on the hook financially. When you buy a brand new home, you get a new home warranty. That means, in the rare event that something does go wrong right after you move in, you can be covered for it.
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New Neighbourhoods
Buying a home in an older neighbourhood carries with it some of the same risks as the older homes themselves. Buying in one of these communities means taking the risk that roads, sidewalks, public places, yards, etc. will fall into disrepair and impact your quality of life and even the resale value of your home.
Brand new homes for sale in Edmonton and area are typically located in new neighbourhoods. That means all the amenities and features are also new and less likely to require repairs.
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Fewer Safety/Health Issues
New homes have newer electrical, plumbing, heating, and other features that might not be as advanced in an older home. When electrical or plumbing gets too old, there is a higher risk of fire, flood or other hazards that can put you and your family in danger. Not to mention, new homes have the newest technology for high-efficiency furnaces and air filtration. This will help prevent dangers like mold, asbestos and other health dangers that may be present in older homes without this technology.
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Capital Appreciation
One of the biggest risks anyone takes when buying a house is the resale value. When you buy in an older neighbourhood, you take a much higher risk that your home will not increase in value by the time you want to sell it.
When you buy a brand new home in a new neighbourhood, chances are that neighbourhood is going to grow, expand, and get better. When the buy the home, amenities and schools may be limited. If you decide to sell it in 5 years when all of these things are there, your location will be worth more. When this happens you are more likely to experience capital appreciation.
Where can you get a new home in Edmonton?
Looking for the best real estate in Edmonton? You’ll want to make sure you look in the best new neighbourhoods in the area. When you buy a house in any of the following neighbourhoods, you get all of the reduced risk from above, plus all the additional benefits of buying a brand new home. Here are some of the best neighbourhoods for real estate in Edmonton:
- Leduc
- While it’s not actually located in Edmonton, Leduc is not far from the city, and has a lot of great amenities that make it an excellent neighbourhood for families.
- Houses for sale in Leduc’s new communities are well priced and are very conveniently located.
- The Leduc Rec Centre (located at 4330 Black Gold Dr, Leduc, AB T9E 3C3) is one of the most popular amenities for locals as it offers a variety of activities, classes, and more.
- Rosenthal
- Rosenthal is located on Edmonton’s West Side within Lewis Farms. It’s conveniently situated next to the Whitemud and the River Cree Resort Casino as well as the Lewis Estates Golf Course.
- Houses available in the Rosenthal real estate market can come at great prices with excellent additional features.
- One of the best places to hang out in Rosenthal is the Park (located at Rosenthal Link NW, Edmonton, AB T5T 5X9). The park features lots of green space, playgrounds, and more.
- McConachie Crossing
- This brand new neighbourhood is located in North Edmonton, right next to the Anthony Henday, making for convenient travel.
- Real Estate in McConachie Crossing is thriving with plenty of lots and brand new homes for sale, plus a lot planned for future developments. Being so new, there is plenty of opportunity to buy a house in this Edmonton neighbourhood before it becomes ultra popular and prices go up.
- Houses in this neighbourhood are located just minutes away from the many schools, including Christ the King Elementary/Junior High School (180 McConachie Dr NW, Edmonton, AB T5Y 0K9) so it is a great place for families to buy a home.
At TriUrban, we’ve been called the New Construction Experts, and we’re proud of that title. So if you’re looking for a brand new home in one of Edmonton’s best new neighbourhoods, don’t hesitate to contact us today.
