5 Hidden Costs of Buying New Construction

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5 Hidden Costs of Buying New Construction

Buying new construction can be very appealing. Everything is brand new and you get to pick out features based on your tastes. While, at Cornerstone Capital, we don’t advise against new construction, we want all our clients to go into their home buying experience with eyes wide open. We’ve put together a list of potential hidden costs with buying new construction we want you to consider to ensure your home buying experience is positive.

  1. Upgrades – When you see the initial home price, ask what that includes. If the standard home plan, flooring, cabinets, countertops, lighting, etc. are not what you want, upgrades can substantially increase the price of the home.
  2. Paint – Most new construction will be delivered with white paint in all the rooms. If you are looking for each room to be painted differently, that can be a costly addition or a big project for yourself.
  3. Window Covering – The first night in your new house might be a bit bright! You will need to install window coverings on all your windows in order to keep out the light and create privacy. This can be a time consuming task in addition to a potentially large investment depending on the number of windows you have and the type of window coverings you want.
  4. Deck/Patio – While some new construction has options for decks and patios, not all do. Either way, installing a deck or patio to enjoy your new outdoor space can be another additional cost.
  5. Finished Basements – While basements are not extremely prevalent here on the Jersey Shore, many people see a basement as desirable for the additional space. If your new home has a basement, plan to spend extra in order to finish it and create true living space.

If you are considering a move or know someone who is, talking to us at Cornerstone Capital Financial Services is the best first step. We will help you understand your options for mortgages to ensure you start the home buying process prepared and confident. Schedule an appointment with us today and let’s get you started on a path to your dream home.