Should You Buy A New Home Or An Existing Home?
Design by Diana Walton- Houston First Time Home Buyer Specialist
Hello and welcome to Houston First Time Home Buyers Edition, formally First Home Houston (FHH). This post does not address custom home. This post is for first time home buyers that are thinking of buying their first brand new home.
Buying a brand new home does have its benefits. But so does buying an existing home. In the end, it will comes down to what your housing needs are as well as your likes and dislikes. All we can do is presents the facts. Here are a few things to take into consideration as you make your decision.
The Case for New Homes
Everything inside the home is brand new.
The home, once construction is complete, will be move in ready.
Everything is in pristine condition.
You are the very first person to live there.
While not all builders offer this option, some does. You may be able to have some aspect of your home customized during construction. This customization would be limited to let’s say, elevation, flooring, cabinets, room additions, and counter top selection.
New homes are energy efficient, this would mean saving money, instead of spending it on energy bill.
Brand new homes provides piece of mind, because there will be no immediate expenditure to fix anything.
You will likely receive buyer incentives such special low interest rate, closing cost help and title policy paid.
New homes can be cheaper than existing homes.
Lower maintenance because everything is brand new.
Builder warranties are usually a part of the package with brand new homes. These warranties can protect components of your new home well into the future.
Master planned communities offers lifestyle living that includes parks, pools, café, movie nights, and schools are typically a bit closer, if not a part of the community itself.
Your drive time may also be a bit longer depending on the location of your new home.
The Case for Existing Homes
Existing home maybe move in ready or not. If you are buying an existing home, you may need to do a few things before you can move in.
Established neighborhood, with long time homeowners and mature trees.
Existing homes maybe a bit cheaper than brand new homes.
Some existing homes, may offer have bigger bedrooms, cabinets are usually real wood and the lot sizes are usually bigger.
You may have more location options with existing homes.
Existing homes will most likely have outdated floor plan unless the home was remodeled.
You may find wall paper in the kitchen and bathroom.
Maybe poorly insulated and lacks anything that resemble energy efficient.
Plumbing can be a costly expense.
Older heating systems, older appliances, and a new roof will all be very costly expenses you will need to take in consideration and plan for.
And don’t forget about updated building codes, since construction standards change over time. This may mean some older homes are not up to code.
The age of a house is just a number. That’s all. While a home serves as a gathering space for family, friends and pets, it’s also a financial investment. As a real estate Broker, I hear it all the times. “they don’t make thing like they used to.” This may be true, however, when it comes to deciding on buying a brand new or existing home, regardless of the pros and the cons, only you can decide if you want vintage or a modern home.
As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please contact us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana
