Purchasing a pre-existing home or investing in new construction is a huge life decision. Do you want a property that's custom-made with everything you desire? Or an established home that's move-in ready and more convenient for your wallet? These are the questions you'll need to consider if you're debating between the two options. Here are some of the other factors to think about before deciding!
The biggest concern when choosing between an ancestral home and new construction is the cost. According to the National Association of Home Builders, it's cheaper to buy a pre-existing home in most cases. There's more room for negotiations, which can add up to significant savings. On the other hand, the condition of the house can alter the cost of the property. Finding a home in perfect condition can be a challenge, so you'll need to factor in the prices of renovations. This is where it can be more affordable to build a new property because you can pick and choose what you want within a specific budget. Also, investing in new construction allows you to put in energy-saving systems, saving you money over time.
When looking at an established home, it can be more convenient to move in and not wait for construction to finish. Depending on the buyer, they may need a fast turnaround time to relocate. Building a new home doesn't give them the option to move in immediately, which can be a significant drawback. Although you'll be able to settle into your place quicker, you may be sacrificing what you want in a home. Some people prefer waiting for new construction to finish because it will be more convenient in the long run. The need to set aside time for upgrades and renovations in the future is eliminated, and they won't have maintenance issues since everything is new.
A considerable pull for new construction is the more energy-efficient systems throughout the house. According to Schumacher Homes, new buildings have energy-efficient windows, lighting, plumbing, insulation and HVAC systems. Since everything in new construction is updated, you'll save more money on utilities than in a pre-existing home. But that doesn't mean you can't find all of those things in an established property. Many homeowners are updating their systems to lower energy costs, which can be found on the market. With the right real estate agent, they can find you a home that has everything you need.
The goal is to find the perfect place that makes you feel at home. Need help? Contact us through the "contact" tab at the far right at the top of the page or email us at [email protected] or call (561) 843-0918.