January 27, 2018
Homebuyers are often under the assumption that buying something used has greater benefits economically than buying their home brand new. The belief seems to be that all of a home’s quirks and kinks would have already been worked out if it’s been around a few decades. Fortunately, this outdated mindset is getting a second look.
While an older house might be the better fit for some homeowners, there are huge—and we mean HUGE—benefits to buying a brand new home over a used one. With a new build, homeowners get the advantages of personalization, quality control, and easy maintenance. In addition that, these homeowners also reap the benefits of some pretty significant insurance savings. These savings often get overlooked, but they’re nothing to sneeze at.
In addition to the personal benefits of having a safe and secure home, a new home build offers some great insurance perks. These are the five main areas where insurance providers love to give discounts on new homes:
Replacing a roof on an older home can cost upwards of $10,000, but owning a new home, can help homeowners avoid those replacement costs and other repair concerns. A new roof decreases the possibility of leaks and consequent damage—and those kinds of bills can really add up, even before you’re aware of any issues. And because new-roof homes are at a lower risk for filing wind and water claims, insurance agents often provide these homeowners with favored policies and lower monthly premiums. That, plus the reassurance of a having a sturdy roof over your head? That’s a win-win!
Electrical malfunctions can wreak havoc on older homes—that’s why insurance providers offer up to a 10% discount for new wiring systems. Making sure your home has a new wiring system gives you a much lower risk for fire and other dangerous electrical issues. Older wiring often can’t keep up with the amount of electrical appliances we use in our homes today. But if you’re buying a new home, your wiring is just one less thing you need to worry about. It should already be safe and up to code.
These new systems increase home safety in multiple ways. First, they reduce the possibility of fire. Older heating system and air conditioning units have a higher risk of mechanical or electrical failures that can lead to ignition. Newer heating and cooling systems can also help discourage mold growth. It’s a lot easier to manage moisture levels in your home with a newer unit, and an efficient cooling system helps increase ventilation and reduce humidity. To learn more about mold in your home, check out the EPA’s webpage guide.
The State of Indiana is now enforcing new energy codes, and these codes must be strictly followed for the home to pass inspection. If those codes aren’t met, a potential buyer won’t be able to close on their home—yikes! That’s why builders need to meet or exceed these new practices. One of the main components of the new energy efficient codes is passing a whole-house blower test. This test results determine a home’s air infiltration rate, and when your score number is lower, your home is more energy efficient. Because newly built homes help keep your energy costs low, they’re perfect for protecting—or “insuring”—your pocketbook!
Finally, there are three major safety systems that are standard for new builds. Sprinklers, smoke detectors, and security systems go a long way in helping to keep your homeowners insurance costs down! These important new home features greatly reduce the risk of expensive claims being made, and already having preventative measures in place helps discourage break-ins or extensive fire damage. Your premiums can remain lower with these safety features, which results in larger overall homeowner discounts. It’s more common to have these safety systems already installed in new homes, so that’s one more reason why new beats out the old!
If you’re looking for more great reasons to buy new or build, consider the custom design features you want for your home, too. A new home lets you choose the perfect neighborhood, lot, and floor plan for your lifestyle—and the insurance perks are standard in new homes.
Owning a new home also gives you and your family the reassurance of safety and security. Why take the risk of having outdated or expired appliances or home wiring, when you can afford the quality and craftsmanship of owning a new build?
New home options in the Greater Indianapolis area have never been better! For more information on the savings and safety features of owning a brand-new home in Indy, please send us a message. We look forward to hearing from you!