New Home or Existing Home ??
As I mentioned in my last entry I thought it would be good to discuss the advantages and disadvantages of buying a new home versus buying an existing home. An obvious advantage in the new home market is the ability to pick the colors, particular features and include only what you want in the new home. A new home community may also allow you to meet neighbors more quickly as most of the other residents are new also. Some new home communities have amenities such as community swimming pools and community centers that the existing market frequently does not provide. In looking at the new homes this may sound like an insult to your intelligence but it is new and all the items in it are new. Keep this thought in mind as we discuss existing homes.
In purchasing an existing home you pick the style of the home by say only looking at two story homes, you pick the colors by what is available in the market during the time you are looking and what is on the market at that time. You can still make those decisions but are limited by what is available as a completed home. Frequently in the existing market you have more established neighborhoods, with more mature landscaping, and areas that have a bit of a history. In buying an existing home you do not need to wait for the home to be built- you merely work out the details as to when you can settle on the property. As I mentioned above if you do buy a 10 or 15 year old home everything in it is about that old unless it’s already been replaced. How much will you have to repair or replace is a question you need to answer as you look at the existing home market.
There are advantages and disadvantages of both. It’s a decision that you to analyze as to what’s best for you and your family. Happy house hunting.
Tags: Existing Homes, new homes