5 Benefits of Building a New Home

It’s a new year! For many, that means a fresh start and a new beginning. For you, that may mean building a new home. If you’re looking for a semi-custom new home that’s high quality, yet affordable to construct, Mitchell Homes may be the right home builder for you.

We’ve been in business for 26 years, so we’ve seen firsthand the impact building a new home can have for you and your family. Here are our top reasons building a new home might be the right New Year’s resolution for you.

1. Your Home is a Reflection of You

When building a new home, you can literally start from the ground up. You are essentially your own architect, choosing the size, floor plan, and layout that work best for you. At Mitchell Homes, we have an assortment of floor plans and more than 11,000 options and upgrades to choose from.

5-benefits-of-building-a-new-homeWant an open layout that allows you to keep an eye on the kids in the family room while you’re making dinner in the kitchen? We can make that happen. Looking for custom features such as a walk-in closet or a mudroom with a drop zone so the kids won’t track dirt into the home? We can arrange that too.

The beautiful thing about constructing your own custom-built home is that your options are virtually limitless, and each one is a reflection of you.

2. You Have a Clean Slate

The new year is all about fresh starts, so why not start with a clean slate when it comes to your home? When you purchase a home from someone else, you don’t necessarily know what you’re getting. With previous owners, there’s no guarantee when it comes to the quality of the home’s upkeep. While you can have a home inspector take a look around, not every issue is immediately apparent. On the other hand, one of the benefits of building a new home is that everything is brand new.

When you build a new home with a trusted contractor, you know what you’re getting. You won’t have to worry about repairs right away or expensive upgrades. At Mitchell Homes, we build each home as if it were our own. Plus, each house also comes standard with an industry leading home buyers warranty. Each warranty includes ten years of structural coverage, two years of systems coverage, and one year of workmanship coverage. That way, you can be certain that the home we’re building for you will stand the test of time.

3. More Bang for Your Buck

5-benefits-of-building-a-new-homeHomes built today are, on average, about 1,000 square feet larger than homes built in the 1970s. According to the American Enterprise Institute, the average size of a home in 1973 was 1,660 square feet. Now, the average size of a new home is more than 2,600 square feet. You might be thinking that a larger home is going to cost more money. At face value, that may be true. But let’s take a closer look.

For the purposes of this example, let’s look at the Richmond, Virginia area. According to Realtor.com, the average median price of an existing home in Richmond is $138 per square foot. On the other hand, according to the National Association of Home Builders, the average construction of a new home in 2015 cost under $290,000. The average size of that newly constructed home was about 2,800 square feet. That amounts to just $103 per square foot. That means you’re getting way more bang for your buck with a newly constructed home.

4. Modern Convenience

New homes are often built with modern finishes and amenities. That includes energy efficient materials and appliances. You may be thinking that it’s going to cost way more money to heat and cool a home with a greater square footage area. Again, on the surface that may be true. But with the energy efficient features of newly constructed homes, you’ll be paying virtually the same amount as it would cost to heat and cool a smaller home with outdated features.

5-benefits-of-building-a-new-homeLet’s take a look. According to the Energy Information Association, new homes are about 30% larger than their older counterparts but still consume about the same amount of energy. In fact, homes constructed in the year 2000 and later consume only about 2% more energy than pre-2000 homes despite their considerably larger size. That means you’ll still be getting more bang for your buck even after your home is built.

5. No Closing Costs

There are significant financial advantages to a newly constructed home when you choose to build with Mitchell Homes. One of the best benefits of building a new home with us is that we don’t require you to have a construction loan to start building. In fact, we don’t require a down payment or closing costs either.

With Mitchell Homes, you’ll pay nothing until you receive your first mortgage statement, which can be up to 60 days after closing. This all amounts to generous cost savings. Our clients typically save close to $15,000 on a $250,000 loan when they choose to build with us.

Mitchell Homes also has great relationships with lenders and credit repair agencies. Think building a new home isn’t for you? Think again. We work with people who have less than perfect credit. Additionally, our lending partners offer competitive interest rates and long lock-in programs. Mitchell Homes strives to make building a new home a feasible option for everyone.

Ready to begin planning the construction of your dream home? We’d be happy to help you get started. You can begin by checking out our floor plan collection. You can also complete this simple online form. We’ll send you a plan book that includes our floor plans, a list of our standard features, and our pricing for each of our home designs.

Whether you’ve been planning a custom built home for some time or never before considered it, Mitchell Homes would like to show you what your future can hold. Here’s to the new year and your new home!