Dream homes come in all shapes, sizes, and styles, so when you begin looking for yours it can quickly start to feel like the options are endless. To make this journey start off a bit more simply you can narrow the categories down a bit; existing homes and new build homes. Read below to learn more about each option before making your first step to purchasing. Be sure to see both choices for their positives and negatives before deciding.
Freshly constructed homes have good quality control standards, newer construction techniques, and better energy efficiency than many older homes. They often carry a 1+ year warranty and good financing options.
The downside is that while they are easy to get into, it is very difficult to sell them for a few years (especially if the builder is still in the subdivision), and the final price is often higher than an older home (though they usually require very little up-front money, and many builders will give thousands of dollars of upgrades and incentives.) The neighborhood will not be established, there will be very few shade trees like in an older neighborhood, and it will have more of a frontier feel.
If you like “new” and “shiny” feel, then buying something never before lived in is your answer.
They have been seasoned, and may be better constructed than newer homes. Many people like the fact that they have the charm and history of having been lived in – in fact, many buyers think that a new home is “cold” if it hasn’t been lived in. Their age gives them respectability, and they are in established neighborhoods with tall trees and established neighbors and schools. They may be funky/customized with interesting quirks. These are for people who like “established” OR “different.” They are much easier to sell soon after you buy one.
Keep in mind that many also carry a 1-year warranty. They may not appeal to people who like being the first in a home or who want one built especially for them.
Now it’s up to you– which do you like better , and which style sounds more like you and your family? New or Existing? No one else can make the call for you, and ultimately you’re the one making whichever house you choose into a home- so choose wisely and trust your gut.