One of the decisions most prospective homebuyers have to make is whether to buy a brand new house or a previously owned (“resale”) home.
Buying a brand new home can be a very exciting process… you get to pick your finishes, elevation, lot, etc.. BUT, you are also paying a PREMIUM for the home. Many builders build inventory homes that are ready to move into. No, you didn’t get to pick your finishes, however, these builders are offering DEEP discounts and more often than not, you have built in equity. We ourselves purchased an inventory home from a builder and the property was appraised $30,000 over what we paid for it.
Here’s a comparison of some advantages to each choice:
- Modern floor plans that could include a “great room,” bigger closets, more baths, etc.
- The opportunity to choose upgrades and customize floor coverings, colors and more
- More energy-efficient insulation, windows and heating/cooling systems
- The added protection of a warranty from the home builder
- Existing features, including window treatments and mature landscaping
- Location — existing homes are often closer to metropolitan areas
- Established neighborhoods that provide a sense of community
- The opportunity to use an existing home as a base to remodel and create a unique property
As your real estate specialist, I would be happy to discuss your options and show you what’s available that best suits your lifestyle. If you would like additional information on which option might be your best choice or are ready to look at homes, please call or email me. I would be happy to help you!