Worried About Home Maintenance Costs? Consider This for Los Angeles and Beverly Hills, CA

Worried About Home Maintenance Costs? Consider This for Los Angeles and Beverly Hills, CA | Christophe Choo at Coldwell Banker Global Luxury is Your Local Real Estate Expert

If one of the main reasons you’re hesitant to buy a home in the glamorous areas of Los Angeles or Beverly Hills is because you’re worried about the upkeep, here’s some information you may find interesting about both new home construction and existing homes (a home that’s been lived in by a previous owner).

Newly Built Homes Need Less Upfront Maintenance

If you can afford it, a newly built home in Los Angeles or Beverly Hills could help ease your worries about maintenance costs. Think about it—if everything in the house is brand new, it won’t have the wear and tear you may see in an existing home, meaning it’s less likely to need repairs. As LendingTree says:

“Since the systems, appliances, roof, and foundation are new, you’re less likely to pay for major or minor repairs within the first few years of homeownership. That can make a big difference for first-time homebuyers who are adjusting to owning rather than renting.”

Plus, many builders in Los Angeles and Beverly Hills offer warranties on their homes that cover some of the more major expenses that could arise. As First American explains:

“The new systems in your home, like plumbing, electrical, and HVAC, are typically covered for one to two years by your builder’s warranty. When something happens to these systems, you contact the builder or their warranty company.”

Existing Homes Can Still Have Great Perks

It’s worth mentioning that it’s not just newly built homes that can have warranties—this is an option for existing homes too. Your agent may be able to help you negotiate with the seller to add one as a concession on your contract. But you should know that not all sellers will be willing to do that. If they won’t, you could purchase one yourself. As Forbes explains:

“During a real estate transaction, a home warranty policy can be purchased by the buyer or the seller.”

And there are benefits for both parties when it comes to a home warranty. According to MarketWatch:

“A buyer’s home warranty benefits both buyers and sellers, as it helps the seller close the deal while providing the future homeowner with peace of mind that they’ll be covered if a system or appliance breaks down. Sometimes, a seller will pay for the first year of the home buyer’s warranty to sweeten the deal, but it depends on the real estate market.”

If you’re interested in a home warranty for peace of mind, lean on your agent. They’ll negotiate on your behalf to see if a seller would be willing to cover one for you. Just remember, the likelihood of a seller including one depends on conditions in your local market.

So, Should I Buy New or Existing?

While the need for less upfront maintenance is a great perk for new construction, there are some things a newly built home can’t provide that an existing home can. For example, existing homes in Los Angeles and Beverly Hills often have a lot of character and charm that’s difficult to reproduce. The quirks that come with an older home may make it feel more homey. Additionally, existing homes usually have more developed landscaping and a well-established sense of community, making them feel more inviting than new construction, which is often a blank slate.

Moreover, if you go with new construction, you may have to wait for the home to finish being built based on where it is in the process. This is an important consideration in high-demand areas like Los Angeles and Beverly Hills, where timing can be crucial.

Bottom Line

Whether you choose a newly built or an existing home in Los Angeles or Beverly Hills, you may be able to ease some of your concerns over maintenance with a home warranty. To weigh your options and determine what’s the top priority for you, talk to the professionals. With the right guidance, you can find the perfect home that meets your needs and gives you peace of mind.

Call Christophe Choo at (310) 777-6342 to tour your future home "HERE" or click "HERE" to estimate your home value