There are many good reasons why you might be ready to move. Regardless of your motivations, before you list your home for sale, you should consider where you will go next. In today's market, it makes sense to explore all of your options. That includes both homes they have lived in before and new construction. To help you decide which option is best for you, let's compare the benefits of each. Regardless of which option you choose to explore, working with a trusted real estate professional throughout the entire process is essential.
The benefits of newly built houses
First, let's look at the benefits of buying a newly built home. With a new home, you will be able to:
1. Build the house of your dreams
If you build a home from scratch, you'll have the option to select the custom features you want, including appliances, finishes, landscaping, layout, and more. Bankrate puts it this way:
“Building means customizing… Instead of wanting your home to have a certain type of floor, a deck, or some other special amenity, you'll be able to tailor the property to your exact needs. Nor will it be limited to a specific location or neighborhood.”
2. Take advantage of builder concessions
In today's market, many home builders are working hard to sell their current inventory before adding more homes. That means many of them are offering concessions and are more willing to negotiate with buyers. That could work in your favor in the process.
3. Minimize repairs
Many builders offer a warranty, so you'll have peace of mind from unlikely repairs. In addition, you will not have to carry out small projects. As realtor.com says :
“…If something goes wrong with your new home, not only are there likely some manufacturer warranties, but many builders also include additional warranties for the home…”
4. Take advantage of energy efficiency
When building a home, you can choose new, energy-efficient options to help lower your utility costs, protect the environment, and reduce carbon emissions.
The advantages of buying an existing house
Now, let's compare those with the benefits that come with buying an existing home. With an existing home, you can:
1. Explore a wider variety of home styles and plans
With hundreds of homes to choose from, you'll have a wider range of plans and layouts available.
2. Appreciate that charm that someone lived there
The character of the old houses is difficult to reproduce. If you value temporary crafts or design elements, you may prefer an existing home.
3. Join an established neighborhood
Existing homes give you the option of learning about the neighborhood, community, or traffic patterns before committing. Additionally, they have more developed gardens and trees, which can provide you with additional privacy and curb appeal.
4. Move faster
If you have a short window to move, or if you simply don't want the process to take several months while your home is under construction, buying an existing home might make sense for you. S. News explains :
“When you choose a home, existing or new, you also need to consider how long it might take to move into that home. Just because you have a contract doesn't mean your new home will be ready (or even when construction starts) by the time you agree to purchase. It can be a struggle waiting for the walls to go up while wondering what your home will look like.”When you think about where you'll go after selling your home , keep your options in mind. As you begin your search, think about what is most important to you. By working with a trusted real estate agent, you can be sure that you are making the most educated and informed decision.
If you have questions about options in your area, work with a local real estate professional to discuss what's available and what's right for you.