New Builds & Additions
In the context of real estate, new builds (commercial construction projects and (residential construction projects) refer to newly constructed properties or buildings that have never been occupied before. These could include newly built homes, apartments, commercial buildings, or other types of structures that are built from scratch, typically by developers or builders.
New builds be it residential construction projects or commercial buildings are often marketed as modern and up-to-date, with the latest construction materials and technology, and may come with various warranties and guarantees. They are generally sold off-plan, which means that buyers purchase the property before it is completed, based on floor plans, computer-generated images, or show homes.
New builds can offer several benefits over older properties, such as better energy efficiency, lower maintenance costs, and the ability to customize certain aspects of the property to meet the buyer’s preferences. However, they may also be more expensive than comparable older properties, and buyers should be aware of potential delays or issues that may arise during the construction process.
Difference between new builds and additions
The main difference between new builds and additions is that new builds are entirely new constructions, while additions are additional structures built onto existing buildings. New builds involve building a new property from scratch, while additions involve adding extra rooms or extensions to an existing property.
New builds typically involve a larger scope of work, as everything must be built from the ground up. This can include excavation, foundation work, framing, electrical and plumbing installations, and more. New builds are typically more expensive than additions, as they require more materials, labor, and time.
Additions, on the other hand, typically involve less extensive work than new builds. They may involve adding a new room, expanding an existing room, or building a new structure next to an existing one. Additions are generally less expensive than new builds, as they require less work and fewer materials.
However, additions can also come with their own set of challenges. Depending on the complexity of the project and the age of the existing building, additions may require additional structural work to ensure that they are properly integrated with the existing building. In addition, local building codes and regulations may place restrictions on the size and location of additions.
Ultimately, the decision to pursue a new build or addition will depend on a variety of factors, including a budget, desired outcomes, and existing property conditions. Homeowners should carefully consider their options and consult with a qualified builder or contractor to determine the best course of action for their specific needs and goals.
Advantages of new builds and additions
There are several advantages to new builds and additions. In no order of importance, we have listed a few of them:
Customization
With a new build, buyers often have the ability to customize certain aspects of the property, such as choosing finishes, fixtures, and layout options. This can allow for a more personalized living space.
Energy Efficiency
New builds are often designed to be more energy efficient than older properties, which can help reduce utility bills and environmental impact.
Low maintenance
New builds require less maintenance and repairs than older properties, as everything is brand new and should be under warranty.
Potentially lower costs
New builds may have lower ongoing costs, such as lower utility bills and less frequent repairs and maintenance.
Modern amenities
New builds often come with modern amenities and appliances, such as smart home technology, which can improve comfort and convenience.
Warranties and guarantees
New builds often come with warranties and guarantees from the builder or developer, which can provide peace of mind and protection in case of any defects or issues.
Higher resale value
As a new build property ages, it may still hold its value better than an older property, as it will continue to be newer than other properties on the market.
Overall, new builds offer several benefits to buyers, such as customization, energy efficiency, low maintenance, modern amenities, warranties, and potentially lower costs.
When it comes to building commercial building or a residential construction project our team of experienced professionals will work with you to create a unique and custom-built solution that meets your exact requirements.