Pros and cons of brand-new apartments

Looking at a brand-new apartment building as your next home? There are pros and cons to moving into a newly constructed community, and many such projects will be available for their first crop of residents in the coming year as developments all over the country are completed.

At first blush, a brand new apartment complex might sound like the ideal place to hang your hat. What could possibly be wrong with something that’s never been occupied? Probably not much. But living in a new brand apartment can have its own set of unique challenges. Often the pros outweigh the cons. Here’s a look at both.

Pro: It’s shiny new and so nice to look at. You’ll be the first to spill coffee on the carpet, let water boil over on the stove and allow mold to grow in the shower. But sometimes its easier to keep a new place clean, simply because it’s nice and you want it to stay that way.

Con: You’ll probably be paying more than you did at your last apartment. New apartments are typically at the higher end of the pricing spectrum, and are less likely to offer special deals and incentives unless there’s a high vacancy rate in the area. Because most new development is in cities with a high demand for apartments, you can’t expect a good deal.

Pro: You’ll have the latest trending amenities and better connectivity for electronic and utilities, as well as the latest in soundproofing and safety equipment. Construction regulation standards are more stringent today than they’ve ever been before.

Con: You may have more restrictions on how you use your space and what behaviors are permissible there. Many apartments are moving to a no smoking standard, so you may not have that privilege anywhere in your complex, and your guests won’t, either.

Pro: Your neighborhood is likely to be an interesting one. Developers making an effort to attract working professional renters are placing projects in unique neighborhoods that offer public transportation as well as walking-distance restaurants, goods and services that cater to apartment residents.

Con: New apartment buildings are unlikely to have developed green spaces, and you may have to put up with lacking immature landscaping or additional construction on other parts of the development while you are living there.