Buying a New Home vs Existing Home - Some things to consider

Why do people choose New Homes and New Construction over Existing Homes? A common question that people have about new homes and new construction, is why do peo...

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Buying a New Home vs Existing Home - Some things to consider

Posted by Gary Lundholm on Wednesday, May 1st, 2019 at 9:10am.

Why do people choose New Homes and New Construction over Existing Homes?

A common question that people have about new homes and new construction, is why do people choose one over the other. In other words, what are the advantages of new homes vs existing homes. And what might the advatages be for existing homes over new. As most homebuyers approach buying a home, they will often at least consider a new home and compare the alternatives. It is important to remember that each situation is unique, but here are some of the potential factors:

Potential Advantages for New Homes

  • Perceived Quality of Materials and Quality of Builder - If you are comfortable (and we recommend inspections to confirm that), with the craftsmanship of the builder, then having new materials can be a plus.
  • Ability to Choose Features and Amenities - New Construction often means that you can choose between options and plans that give you a more custom fit for your family.
  • Access to great locations in a New Home Community - Some of the new home communities in Hampton Roads are in outstanding locations. Often the only home available is a new home.
  • Customizable floor plans in many cases = more options and more choice
  • Cost of upgraded features and appliances can often be folded into the mortgage

Potential Advantages for Existing Homes

  • Can be somewhat less expensive, with more opportunity to negotiate price
  • More desirable locations to choose from provided there is enough  inventory on the market.
  • Property values can sometimes be typically more predictable and more stable because properties have been bought, sold and resold there.
  • Established Trees and Landscaping
Whichever way you eventually decide with your home purchase, it is good to evaluate ALL of your options with an objective and competent real estate professional. The new homes experts and Associates with The Real Estate can help you find the perfect home for you. Their expertise is only a phone call away.  

Want the ultimate in new homes search?

We invite you to visit TREGNewHomes.com.  More than just the builders, you will find the latest new home listings throughout the entire Hampton Roads area. You will also find it easy to search by new home community to see the features, amenities and options available.  Hampton Roads and the surrounding area has many options for new home buyers. Let us help you narrow down the options and assist you in making your new home dream a reality. 

 

Gary Lundholm
Broker
The Real Estate Group

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