What Characteristics Are You Looking for When Purchasing A Home?
New construction homes have the benefit of being unlived in, and often include warranties because everything is so new that it will probably be a while before issues arise. That is assuming it is a well built home with an established builder. For someone who wants a home that is completely turnkey and move in ready, this can be a great option. The energy efficiency of a newer home is likely to be better because of code changes as the years pass.
The cons of new construction homes can be limited elevations, small lots, cookie cutter neighborhoods where there are only a few different styles of homes, and areas that are so new they haven’t developed much character or mature trees. If it is a custom built home then simple upgrades can add up quick with cabinet upgrades, countertop upgrades, flooring, siding, windows etc.
“New to You” or previously owned homes are appealing to many buyers because they are available now. New Construction homes require a building timeline and months of construction which can be a challenge if you sell your existing home. You may need to search for temporary housing or take the risk of listing your house closer to the construction finish date. With a home that is ready to buy you don’t have to worry about that. Existing homes often have more character in the homes themselves and in the neighborhood. Trees have had time to grow and homeowners have add time to landscape and personalize their homes over the years.
The downside of the previously owned home is that the age often means that some updates will have to be made. If the owner was vigilant about maintenance this may not be much of an issue, but having a good home inspection will let you know if there are any serious concerns.
Weighing these factors with your needs and priorities will help you decide which type of home is the best fit for you.