Buying an Existing Home or New Construction?

Which Is Best for Your Situation, Buying an
Existing Home or Opting for
New Construction?

 
When it comes to buying a new home, one size certainly doesn’t fit all. You may be looking for a home that resembles the one you grew up in, or you might be after something brand new with the latest amenities and low maintenance requirements. If you’re contemplating buying an existing home vs. new construction, consider the general pros and cons of each option.
 
About New Construction
 
The most significant advantage of a newly built home is just that; it’s brand new! Building you own home also gives you the chance to customize it with the unique features and styles you prefer. New homes can be cheaper to maintain at first, plus they operate with the latest appliances and energy-efficient construction. You can also expect extended warranties for peace of mind. But one of the biggest reasons more people don’t pursue new construction is because of the higher cost of building from scratch compared to buying an existing home. Depending on where you build, you might also be stuck with a cookie-cutter design that lacks character.
 
Buying an Existing Home

Because homes are typically standing for decades, resale properties tend to be more available and less expensive per square foot than new homes. Plus, you have the power to negotiate the asking price. You can browse listings for desirable features and a location in an established neighborhood. Since resale homes have been lived in before, home sellers know about existing issues and disclose them to potential buyers. Older home s also tend to have more character and char. But, like everything else, there can be downfalls. Appliances and fixtures may have been in use for years already, so they may be prone to break or wear out sooner. Older homes also tend to lack energy-efficient features, meaning you can expect to pay higher utility bills every month. The design could also be outdated and lacking modern amenities. You may be inclined to renovate the home, which increases costs and makes daily life inconvenient for a while. For professional help contemplating buying an existing home vs. new construction, please contact the experienced Texan Realtor Team. We proudly help fulfill dreams for The Woodlands home buyers and sellers. Image via Shutterstock.com