New Construction VS Preowned Homes
New Construction Vs. Previously Owned Homes
Wondering if it's better to buy a new home or a previously owned home?
In this post, we're going to go over a few things to consider when buying a home whether it's new construction or preowned.
A few things to consider when buying a previously owned home are:
- If you aren’t looking for your forever home, an existing home’s value will give you a good idea of what you can expect when you sell in a few years.
- If you buy an existing home, you’ll get more for your money, especially in today’s market. Older homes generally cost less than new homes.
Some food for thought when buying a new construction home would be:
- If you build from the ground up, you may need a construction loan which can have a higher interest rate and down payment than a mortgage for an existing home.
- If you buy new, you’ll be able to customize your home! Options range from choosing a floor plan to selecting backsplashes, paint colors, cabinet hardware, and light fixtures.
In conclusion, there’s no right or wrong.
Whether it makes sense for you to buy a new or existing one depends on what is best for you and your family!
Want to chat more or tour both types of homes? Contact us today!