When you’re searching for a luxury home, one of the first and most important questions for you to ask yourself is whether to buy a new or preexisting property.
Both options come with their own set of benefits and downsides, so there’s really no “right” decision – it all depends on your personal preference. However, a luxury home is a significant investment, so you want to make sure you’re well aware of what advantages each option brings to the table before you start your search.
If you’re looking for luxury homes in Palm Beach Gardens, here are some of the key benefits of each option:
Resale luxury homes
- Already established – Because they’re often in recently established neighborhoods, it can take a few years before the area settles down. The level of trust and safety in a new area needs to be developed since it will be populated by new homeowners during the initial years.
That doesn’t necessarily mean that all newly developed neighborhoods are unsafe or chaotic. But if one of your priorities is to find a comfortable and quiet living environment, it’s more likely to find that in an already settled neighborhood home to generations of households and families.
- Mature landscaping – A luxury home surrounded by soaring mature trees makes your living environment feel more private and serene. It can take more than 20 years for most types of evergreen and spruce trees to fully mature, so it’ll take some time before new construction homes in new neighborhoods develop major landscape growth.
- More character – Some older luxury homes still have the features and amenities characterizing the era it was built such as built-ins, stained glass windows, patterned hardwood floors, and original crown molding.
Although it’s true that a newer home will be designed to accommodate current lifestyle trends, they won’t be able to satisfy the eclectic tastes some buyers might have.
- Can be an exciting project – If you’re a DIY enthusiast, an older luxury property could be the dream project you’re looking for. With the average size of luxury homes, however, it may take time before you can fully upgrade and renovate everything according to your tastes. The upside is having complete control over every single detail, so it’s essentially like customizing your own home from the ground up.
- Convenient location – Choosing an existing luxury property could increase your chances of finding an ideal location closer to the city’s core. As communities expand, new construction homes are often built on the outskirts, leaving older properties closer to major highways, attractions, shopping centers, and the downtown area.
New luxury homes
- Customization – Buying a new luxury home comes with creative control, allowing you to customize your home according to your personal style and preferences. You get control over the floor plan, the finishes used, wall placement, and other details.
- Minimal maintenance – Compared to older properties, new luxury homes require minimal maintenance since everything from their appliances to their electrical and plumbing systems are completely new and won’t likely require repairs or service for the next couple of years.
And in case anything does need to be repaired, it’s likely covered by your new home warranty.
- Modern design elements and superior build quality – Newly built luxury homes are built with more modern designs such as open-planned living spaces, heated floors, floor-to-ceiling windows, and smart features.
New, high-quality materials will also be used, which guarantees efficiency and high-level function for years to come.
- Up-to-code – During construction, the contractor needs to make sure that everything is built up-to-code, from the moment the ground is dug up to when you get the keys.
Knowing everything in your luxury home is built up-to-code gives you more peace of mind, as codes become safer and more effective every year.
- Better energy efficiency – New luxury homes are designed to take advantage of energy-efficient technology and systems, reducing utility bills for homeowners. Many of today’s home developers are incorporating smart home features to entice tech-savvy buyers.
With smart features, you can get automatic irrigation systems, dynamic lighting, and thermostats that you can control with your smartphone. These features can save you more money in the long run by making your household more energy efficient and giving you more control over your energy consumption.