Pros And Cons To Buying New And Existing Homes

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    Updated 1/5/17***

    Ready to start house hunting in 2017? As you begin you will need to decide whether you want a brand new home or an existing home already lived in by someone else. While many home buyers have an overwhelming preference for one over the other, it is important to take a closer look at what you can expect from both before you make your final decision. 

    What to Expect From a New Home

    For those who want customization, you may desire a brand-new home not quite finished or even started yet. With these, you will be able to work with a builder to finish the home with your particular choices in mind. You may be able to choose your own lot and floor plan as well as select the interior design. Your design options may be somewhat limited by the builder, but there is plenty of flexibility to create a home that suits your style and taste. These new homes generally offer open floor plans, large master suites and other features highly desired by today’s home owners. Home buyers also get the added benefit of brand new everything: from appliances to heating and air units. Many of these items will be under warranty and all should be in impeccable condition. Another perk? Brand new homes often are also built with energy efficiency in mind.

    The downsides include a typically higher cost than an existing home. It also takes time for landscaping to develop, which means these lots can feel a bit sparse at first. Plus, there will be time building a community within these neighborhoods, which is differnt than moving into a well-established tight-knit one.

    When You Buy an Existing Home

    Existing homes can vary considerably in both style and condition.  Some are impeccably maintained and upgraded by their previous owners, and include many of the features found in new homes. Others may be riddled with deferred maintenance and may be wildly out of date. The range of floor plans, styles and locations is considerable. The upside is home buyers have flexibility to find a great home at a great price. Other pros include the ability to enjoy an established neighborhood community and mature landscaping in most cases. These neighborhoods are often located closer to the central area of town as well, which makes commuting a breeze for many people.

    The cons are it can take more time searching to find a dream home, or you may even need to consider remodeling a home after purchase.  However, since these homes often cost less than their brand-new counterparts, homebuyers can purchase a new home and make changes over time in a budgeted manner.

    There are pros and cons to buying both new and existing homes. Determining which features and factors are most important to you as a first step. By doing so, you will be able to narrow down the scope of your search. If you’re in need of expertise, we’d love to help! Call DeSelms Real Estate today at 615.550.5565 to speak with one of our award-winning agents.

     

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