- With new construction, the house is still being built. So you don’t pay the full amount at once, but in installments as construction progresses
- Choose a lender with a long validity of the mortgage offer (often 12 to 24 months) or with an option to extend.
- You often have to finance additional work (such as extra electrical outlets or an extension) up front, and not all lenders will let you co-finance this.
- During construction, you usually live somewhere else (rental or existing home)
- Newly built homes are often more energy efficient (e.g., energy label A+++). Many lenders offer additional borrowing capacity for this purpose
- With new construction, you usually buy at a fixed contract price. Unlike the overheated market in existing homes, new construction often does not involve overbidding, providing greater financial security and stability.
