New Home vs. Pre-Owned
Location! Location! Location!
Location is a main driving factor for purchases of pre-owned homes; individuals often want access to schools, shopping, and other amenities in a specific area and will therefore purchase an existing home. Finishing touches that are complete on move-in day are also another incentive; many buyers don't want the hassle or cost involved in landscaping, covering windows, installing appliances, and other details — they're looking for a finished product. They can see and feel the home as a complete space.
Negotiating power can be greater when dealing with a homeowner than with a builder. A homeowner has made a decision to sell, and is usually motivated to make the deal happen more quickly. Builder representatives, on the other hand, may be looking solely at their bottom line.
On the other hand, pre-owned homes are likely to require more maintenance or to have more problems in the future. Purchasing a home warranty is a great way to protect yourself against these unforeseen expenses.
If you're in the market for purchasing a brand-new home, builders are willing to compete for your business. This can mean additional incentives to choose one of their homes — down payment assistance, upgrades, price reductions, and more. In addition, builders can often make adjustments to the layout or small custom changes to suit your specific taste or needs. These homes will also come with lengthy warranties, unlike pre-owned homes, and because it is a brand-new home, you will be able to move into a freshly painted, recently constructed, new-feeling space.
One potential disadvantage is that you could be left waiting for the neighborhood to be completely built out. This could mean delayed access to shopping, schools, and other staples that have yet to be developed in the area, and newly planted trees take time to grow in to help create the established feel some buyers want.
While there are pros can cons to each, our agents can help you choose the best fit for you and your family. Please contact us to begin the process of finding your new home.