Step 4
Existing Home or New Construction
There are pros and cons to each of the choices you have in purchasing a home. You can purchase a home that is available on the resale market, or you can purchase a newly constructed home. If you decide to purchase a home that is “to be built” or one that is currently being built “on spec”, here are some things to take into consideration.
The purchase of an existing home, or a resale home, affords the buyer of many benefits not found in a newly constructed home. Generally, the home includes all window coverings, and the landscaping around the home has had a chance to mature. Also, if you walk through the neighborhood of a resale home, you will be able to tell if there are children present, or if there are other indicators in the neighborhood that will fit your needs and lifestyles.
Sometimes the purchase of a home to be constructed, or a home that is currently under construction, may feel a bit “abstract” to the homebuyer. In many cases, there is nothing you can really look at, and nothing you can actually touch. If you have a good understanding of blue prints or architectural plans, this might work very well for you. Also, a new home might require the Buyer to go the expense of purchasing a variety of items already found in an existing home; window coverings, landscaping, garage door openers, and certain appliances are just a few things that come to mind.
By defining your wants and needs early in the home buying process, you will be able to determine the benefits to you in either a pre-existing home or a home of new construction.
