5 Reasons Why Maryland Home Buyers Should Consider New Construction

When searching for a home in Maryland, many buyers rule out new construction early in their search. This is often based on misconceptions that buyers have around the new construction process, whether from financing, to availability.  Here are 5 reasons why you should consider - or reconsider - buying a semi-custom or custom home in Maryland:

1.  Quality of Construction

This is typically most buyers' biggest priority - and biggest concern - when deciding whether or not to purchase new construction. It's important to know that in Maryland, new homes are built to the most current safety and building standards, with  the latest building techniques and materials that are designed to last longer, be more efficient, provide increased safety, and overall an improved ownership experience. In additon, with new construction, many builders will offer a builder warranty. This all means that new homes give homebuyers peace of mind, knowing that the accumulated wear and tear associated with a resale house is a less significant concern with a new home.

2. Personalization

From the floorplan the the finishes, you can be as involved in the decision process as the builder and site allows.  Some neighborhoods and builders are more "cookie cutter", with predefined floorplans, and a small range of upgrades and options for things like countertops and flooring. Other builders will work with a buyer hand in hand to personalize an existing floorplan with the rooms, features, and and flow that best suits the buyer's needs and lifestyle. And some builders will do a fully custom solution, with every choice directed by the buyer. Whichever solution is best for you, with new construction in Maryland you are getting everything new, fresh,  and modern, and up to date with the latest design trends.

3. Energy Efficiency

One of the most overlooked benefits of purchasing a newly constructed home is the energy efficiency. Many buyers might think of this in terms of the appliances, but a newly constructed home can typically outperform a reasale home in energy efficiency in the complete HVAC system including the ductwork.  Doors and windows will usually have the latest options in energy efficiency, and buyers can opt for energy efficient appliances, not just in the kitchen, but throughout the home including tankless water heaters. Newly construction homes are built to the newest codes, standards, and practices for air ventilation, pest prevention and moisture control.

4.  New Financing Options

Some loans require you to close twice on the property - once when the lot transfers, and once again when the home is complete and delivered. The unforeseen cost is that you can't know or control the interest rate at the time of the home's completion, and therefore you don't know the true cost of the loan or your monthly mortgage payment. There is a specific loan program here in Maryland - offered by a few select lenders - called Construction-Permanent Financing. This type of loan is a one-close loan program which saves home buyers money in a number of ways. First, buyers in these loan programs will pay transfer tax the lot amount, potentially saving many thousands of dollars. Secondly, there is a rare program with First National Bank that allows a buyer to lock in their rate at the time of application and close the entire mortgage at the time of lot transfer.  This allows the buyer to know the exact cost of the loan and mortgage payment before ever settling on the home.  And lastly, an expense that many buyers may not be aware of is the builder's cost to borrow money to complete the home, which many builders will have to include in the overall cost of the project. With a construction-to-permanent loan, the builder doesn't have to take a line of credit, and so therefore doesn't have to pass along that cost, and the interest that the buyer pays on their mortgage may be tax deductible.

5. Inventory Shortage

According to BrightMLS, inventory of resale homes in Maryland is at the lowest point it's been in more than 10 years ... by far:

Because of the lack of homes to choose from, Buyers are often forced to choose between not purchasing a home at all, or settling for a home that doesn't have the location or features that they are most important to them.  With new construction, here in Maryland, there are a number of locations that allow a buyer to find a community that serves their needs, in a wide variety of price ranges.  Here are just a few of the top communities around Howard County, Baltimore County, and Carroll County where you can build a quality custom home with Maryland home builder JMB Homes:

Howard County

The Square Woods - Woodbine, MD - Homes from the $900's

Baltimore County

Autumn Ridge - Reisterstown, MD - Homes from the $500's
Briar Knoll - Phoenix, MD - Homes from the $900's
Deer Park Road - Reisterstown, MD - Homes from the $600's
Oak Grove Farm - Freeland, MD - Homes from the $600's

Carroll County

Cherry Tree Estates - Eldersburg, MD - Homes from the $600's
Morgan Brook Farm - Westminster, MD - More Information Coming Soon!

To learn more about Maryland Home Builder JMB Homes, and its founder John Berger, visit LiveJMBHomes.com.