If you’re in the market for your first home, you’ve probably noticed: older homes are typically less expensive than newer ones. What you might not know, however, is that older homes often come with a whole host of costs not included in their initial price-tags. Here are a few financial reasons for buying new.

To discover NewRock homes being built near you, browse our Communities Page.

Energy Efficiency

New builds are built to conserve energy. If you buy new, you can expect to save a significant amount on your monthly utilities. Among other things, efficient floorplans, high-performance windows, ecologically-friendly heating systems, and Energy-Star Rated appliances all combine to help you reduce your monthly expenses — along with your carbon footprint.

For a comprehensive overview of the cost-saving benefits of owning a modern home, check out this article!

Repairs & Renovations

No matter what type of home you buy or how old it is, the time will come when it’ll need to be repaired. The important question is when. If you buy new — and from a trusted builder — you can reasonably expect to enjoy your home for years, even decades, before having to make extensive repairs to it. Pre-owned homes, on the other hand, are often in need of near-immediate repairs — some obvious, others unexpected. To keep your costs down and your confidence high, consider purchasing a home free of wear-and-tear.

Likewise with renovations: buying new, you’ll benefit from the fact that your home has been designed according to the current trends in construction. Unlike a fixer-upper, a new build allows you to enjoy the look and feel of your home at no additional cost!

Plus, if you buy from a builder like us, you can get involved with your home from the ground up. To learn more about customizing your next home with NewRock, check out this article!

The First Time Home Buyer Incentive

Recently, the Government of Canada launched a new program designed to help first-time buyers afford homes. Called the First-Time Home Buyer Incentive (FTHBI), this program reduces the initial and ongoing costs of homeownership by allowing Canadians to partner with the Government of Canada through shared equity mortgages.

And while the FTHBI applies to all homes within a certain price range, you can save 10% — rather than 5 — if you buy a new build, resulting in savings of up to several hundred dollars per month. To learn more about the First Time Home Buyer Incentive, check out this article.

Regardless of which you choose — new or pre-owned — the important thing is that you’re fully informed about what you’re getting into when you decide to purchase a home. To hear what a few of our homeowners in Saskatoon had to say about their new homes, watch the video below!