Here are some tips for homebuyers to save on costs with newly built homes, experts say

Key Facts

Buyers of newly built homes can face a property tax surprise Housing ‘affordability has just totally collapsed’ But the value of a newly built house will depend on multiple factors, including the finishes that are added, said certified financial planner Veronica Fuentes, a wealth management advisor based in Washington, D.C. “They want to know what kind of windows you want, flooring, siding, window panels, what kind of doors, where you want the outlets, what kind of light switches do you want.
“Think about those elements that could be easily added at a later date,” said Angie Hicks, home expert and co-founder of Angi, an online marketplace that connects homeowners with professional contractors for home maintenance or renovations.
HOW TO SAVE ON CONSTRUCTION COSTS While multiple elements contribute to the overall cost of a newly built house, one way to keep the price within range is by deferring elements for future renovations or upgrades, experts say.
To that point, homeowners spent on average $13,667 across 11.1 projects in 2023, a slightly higher level compared with 2022, according to the State of Home Spending by Angi.