What Are the Pros and Cons of Buying New Construction Condos?


Quick Answer

Some of the pros of buying new construction condos are that the buyer sometimes can help customize their space's details before construction is complete, all the building is done by a professional contractor with no need for the buyer to do hands-on work and new condos often have the most up-to-date technologies and appliances. Some of the cons of buying new construction condos are an initial price tag that is sometimes higher than desired, upgrades that can increase the price further, locations that are sometimes far away from necessary daily destinations and no neighborhood atmosphere like tree-lined streets, according to Forbes.

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Full Answer

Another pro of buying new construction condos is that newly built structures have access to modern building materials. New homes are built with more energy efficiency in mind, which can lead to less expensive utility bills. Another pro is that maintenance is generally required less often because all of the appliances are brand new, notes Forbes.

Another con of buying new construction condos is that they tend to be less architecturally charming than older homes, and they don't have large backyards or a lot of space for children to play outdoors. New condos also don't have an established group of neighbors like homes in older neighborhoods generally do.

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