Most of the articles circulating the Internet weigh the benefits of renting vs buying a home, and don’t focus on renting vs. building a new home.
A considerable number of the “downsides” listed in buying a home are not an issue in a newly-built home. Expensive repairs such as needing a new roof or HVAC are non-existent, and with GreenTech’s 10-year warranty, expensive problems won’t hurt your bottom line for several years.
1. Benefits to buying a home, over renting:
- Equity: most homes accrue value over time, often outpacing the rate of inflation. Median single-family existing home sale prices have increased, on average, 5.2 percent per year from 1972 to 2014, according to the National Association of Realtors.
- The interest you pay on your mortgage is tax-deductible, as is your property taxes and some of the costs associated with buying a home.
- As the mortgage gets paid down and the home appreciates in value, homeowners often walk away with considerable savings or profit when they sell their home. The equity and appreciation in value of a home work out to a nearly tax-free savings plan: the US tax code allows for $250,000 of gain that is not subject to capital gains tax or federal income tax ($500,000 for a married couple).
- Homeowners have a stronger sense of community and belonging when they put down roots in a neighborhood.
- Freedom of self-expression: homeowners can paint their kitchen red if they so desire, and are free to take on weekend projects such as walkways or gardens without asking a landlord’s permission – and they are adding to their home’s value, not the landlord’s.
2. Benefits to building a GreenTech home, vs. buying an existing home:
- Personalization: You can select colors and finishes from granite to door and trim styles, cabinetry colors, floor finish, tile, etc. – giving you the home you’ve always wanted without needing to “remodel” an existing home.
- Home Design: with a GreenTech home, you can work with our in-house design team to alter your selected floor plan and decide on the best layout for your family.
- Warranty: GreenTech homes come with a 10-year warranty – and it’s transferable to a buyer should you decide to sell, adding to the appeal of your home for potential buyers.
- No Surprise Expenses: Everything is new: nothing is breaking down from age. There are no unexpected expenses such as the roof springing a leak the moment you leave for vacation, or the HVAC needing to be replaced. Even if something did break, it’s covered under warranty.
- Energy Efficiency: GreenTech homes are designed to be energy efficient: with our radiant barrier shield, conditioned crawl spaces, high-value insulation and other benefits that are part of every GreenTech home, most homeowners find their utility bills are 50% lower than they expected or what they have paid in similar sized homes.