Thereâ€™s no question that the financial benefits of selling a house are outstanding today. Now is truly a great time to list if youâ€™re ready to make a change. But if you do sell your house right now, you may be wondering where youâ€™ll go when you move.
With so few homes available to buy right now, you might be considering building a new home as one of your options. But you may be unsure if thatâ€™s the way to go. Letâ€™s compare the benefits of a newly built home versus moving into an existing one, and why working with a real estate agent throughout the process is mission-critical to your success no matter what you decide.
First, letâ€™s look at the benefits of purchasing a newly constructed home. With a brand-new home, youâ€™ll be able to:
If you build a home from the ground up, youâ€™ll have the option to select the custom features you want, including appliances, finishes, landscaping, layout, and more.
When building a home, you can choose energy-efficient options to help lower your utility costs, protect the environment, and reduce your carbon footprint.
Many builders offer a warranty, so youâ€™ll have peace of mind on unlikely repairs. Plus, you wonâ€™t have as many little projects to tackle. QuickenLoans puts it like this:Â
â€œBuying a new construction vs. existing home typically means youâ€™ll have fewer repairs to do. It can be a huge relief to know that itâ€™s unlikely youâ€™ll have to repair the roof or replace the furnace.â€
Another perk of a new home is that nothing in the house is used. Itâ€™s all brand new and uniquely yours from day one.
Now, letâ€™s compare that to the perks that come with buying an existing home. With a pre-existing home, you can:
With decades of homes to choose from, youâ€™ll have a broader range of floorplans and designs available.
Existing homes give you the option to get to know the neighborhood, community, or traffic patterns before you commit.
Established neighborhoods also have more developed landscaping and trees, which can give you additional privacy and curb appeal. As Investopedia says, if you buy an existing home:
â€œOdds are, too, that the home will have mature landscaping, so you wonâ€™t have to worry about starting a lawn, planting shrubs, and waiting for trees to grow.â€
The character of older homes is hard to reproduce. If you value timeless craftsmanship or design elements, you may prefer an existing home. According to Houseopedia:
â€œCharm is priceless. Existing homes, especially those built in the 1950â€™s or before, often offer architectural elements, historic charm and a quality of craftsmanship not available in new homes.â€
The choice is yours. When you start your search for the perfect home, remember that you can go either route â€“ you just need to decide which features and benefits are most important to you. Working with the guidance of your trusted real estate advisor will help you make the most informed and educated decision, so you can move into the home of your dreams.
If you have questions about the options in your area, letâ€™s discuss whatâ€™s available and whatâ€™s right for you, so youâ€™re ready to make your next move with confidence.