Existing Houses Vs New Construction Homes

Existing Houses

There are positives and negatives in buying an existing house. Some of the positives include mature landscaping, window coverings already installed, and that you can survey the established neighborhood to learn who your neighbors might be. If you want a pool, an existing place might already have one. A couple of the downsides of buying pre-owned places are that they might need major renovations. Sometimes the style of the house falls out of favor, and major cosmetic upgrades may be needed to modernize the place.

Being the First Owner

Buying new construction homes can be like buying cars fresh off the assembly line. Like being the original driver of a car, being the original owner of a house can be fun and exciting. You get to be the first to live in it, so everything will be sparkling clean and fresh. When you have a place built, you usually get to select the flooring, wall color, outdoor paint scheme, and appliances. If you purchased it before it was built, you’ll get to watch it go from blueprints to a complete building. This can be as exciting as watching a baby being born or a child grow-up. If it’s a custom place, your personality can be embedded in its design. A possible downside is that you will have to wait for your house to be constructed. If you want to move into a place immediately, this could test your patience.

Look at Both

If you can’t decide whether you’d like to buy an existing place or look at brand new construction homes, try them both on for size. Tell your realtor that you’d like to look at pre-owned and newly built models in your price range and preferred areas of town. This will give you a taste of both in order to make a more informed decision. Often, you won’t know which is best for you until you’ve viewed them both.

Buying your next place to live is a big decision. You want to proceed carefully and not rush into anything. If you’re trying to decide between existing or newly built structures, it’s wise to investigate all possibilities. Decide on a price range, get pre-approved for a mortgage, decide on the areas you’d prefer to live in, and go tour both pre-owned houses and new construction homes. After you visit both types, you’ll find it easier to make the right decision.