Should You Buy New Construction or an Older Home?
New home or existing construction? Most people start the process with a preconceived notion of what kind they like, but it the question deserves a second thought. This can be one of your most influential decisions. Have you really thought about the differences between these two types and the fact that one might be a better choice for you than the other? Here are some pertinent facts to help you compare and make that decision.
Newer Homes Typically Have Modern Construction Features
In addition to new appliances, newly built homes also have modern features that people today have come to enjoy. Granite countertops, great rooms, spacious interior design and other such features are found in new homes.
New Homes Have New Material
When a builder builds a new home, you can expect new materials and appliances. That can mean less maintenance, and less worry about things breaking down, at least for a few years.
New Homes Have Modern Safety Features
With a newly constructed home, you can expect all the current safety features that builders are putting in homes under up-to-date codes. As a result, there are fewer hazards for your family.
Older Homes Have More Traditional Features
If you’re looking for a home like your parents’ home, with a familiar floor plan, a resale home is just right. Older homes have features like formal dining rooms, family rooms and other such features, that were common a few years ago.
Resale Homes Often Have Bigger Yards
With an older home, you generally have access to a larger lot than with a new home. New homes are often built closer together on smaller lots, leaving less room for old-style big yards.
You Can Typically Get More for Your Dollar With Resale Homes
New homes almost always cost more than older homes because they have the latest features and amenities. Another benefit is that older homes are usually taxed less as well, depending on the local jurisdiction.
Resale Homes Are Often More Easily Negotiable
As a buyer, you can usually negotiate a better price on older homes than on new homes. In places where need for new homes is healthy, it is more difficult to get a better price. This can result in getting a larger resale home for the amount you would have to pay for a small new home.
New Homes Have Higher Levels of Efficiency
Window manufacturers and appliance makers have greatly improved the efficiency of their products. Efficient windows mean better insulation in winter and in summer. More efficient electrical and gas appliances mean better energy efficiency and lower monthly bills.
There are definite advantages to choosing an older home, but there are advantages to buying a new one as well. Making the final choice, of course, is often a matter of personal preference. Either way, evaluate your options before deciding which way to go. That’s the best way to get the home you want.
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