Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

New Home Construction Choices That Will Lower Costs Later On

by Luke Fields

When having a new home designed, many people focus on the upfront cost of the home. They choose materials that fit their budget. They size the home based on their budget. And they choose finishes and appliances that they're able to afford. None of these strategies are wrong, but if you're only focused on up-front costs as you design your new home, then you are missing out on another opportunity to save. You should also be making choices that will save you money later on. Here are some new construction choices that will keep your costs lower in the years to come.

Keep the roof simple.

A roof with multiple peaks and gambles might look really nice, but the moment you have to have any work done on that roof, you may regret its intricate design. The simpler the roof, the easier it will be for roofers to work on, and the less expensive it will be for you to replace. Roofs with fewer peaks and valleys are also less likely to develop leaks and other issues since water won't have as many places to pool. Make sure your home-building company knows that you want to keep your roof as simple as possible. One long, plain roof with one peak is best in terms of long-term costs.

Opt for hard flooring.

You can always carpet over a hard floor if you decide you want carpet. But if you have carpet put in right away and then it gets dirty or you decide you don't like it, you'll have to have it removed and replaced with hard flooring. Hard flooring is also cheaper to maintain. You don't have to pay a professional to clean it yearly as you do with carpet. You may want to have your bedroom carpeted, but other than that, you're better off having hard floors installed throughout your new home. 

Put all the plumbing in one spot.

If possible, you should have your new home builder design the home so that all of the plumbing is in one place. In other words, the kitchen plumbing can be on the other side of the wall from the downstairs bathroom plumbing. The upstairs bathroom can be stacked right above this. With this layout, there will be fewer pipes in the home, which will reduce the risk of leaks. And when you do need to have plumbing work done, it will be easier for your plumber, so you won't have to pay as much.

When having a house built, don't just focus on the immediate costs. Focus on future costs, too. A home built with the features above will be cheaper to live in over the years. Contact a new home construction company to learn more.


About Me

Do You Need Private Mortgage Insurance?

Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.