Buying A New House? Wait! Know First Its Disadvantages

My friend Liza bought a new house and lot a month ago, but this early she has already encountered some problems which she did not anticipate when she bought the property.

Liza has found out that there were some cracks appearing in the walls of her bedroom, and also cracks in the floor of the kitchen.  She also discovered that the street post in front of her house was not energized yet, making the street dark at night.

As a realtor I have encountered some problems experienced by buyers of new houses. So, to help many would-be buyers of new homes, here are the things to consider first before you make that major purchase of your life:

1. Inconvenient Location. Many subdivisions these days tend to be in far away locations, far from the city center. Thus you may have a longer time travelling or commuting to work, your children to school, and to the malls to shop.

2. Pricier. New homes are now more expensive than existing ones. This is because of the increases in the prices of building materials like cement and steel, and cost of labor.

3. Small yard. Since land appreciates over time, it has become very expensive nowadays, on a per square meter basis. So architects and builders have squeezed in their designs the house on a smaller lot. Five years ago, the lot for a low-cost house is 250 sq. meters, then reduced to 150 sq. meters, then down to 100 sq. meters. Today some low-cost housing projects have only on 80 sq. meter lots.

4. Fees and dues. Like condominiums and townhouses, many new subdivisions now collect from the homeowners monthly association dues.  This monthly membership dues is used for expenses like security, garbage collection, electric lights. This means you have to spend extra from your monthly budget.

5. Settling problems. Every new house has to “settle” into its site. It depends on the soil, the location, and the materials used in the house, as well as the quality of construction. The complaint of my friend Liza was related to this “settling” problems.

Although buying a new home offers many advantages, it also has its own disadvantages.

It is wise to consider the disadvantages, like those discussed above, and weigh them against the benefits of buying a new home, especially if you are a first time buyer. This way, you can avoid a lot of worries and even sleepless nights.