New construction vs. Established homes.

In Real Estate by TiffanyCEverett

Are you seeking to buy, sell or invest in property and trying to figure out should you buy New construction vs. established homes then you’re in the right place. Im Tiffany C Everett Realtor in the State of Florida and I get it. I was where you are and once I became a Realtor my desire turned to helping buyers understand the processes on Real Estate made Simple. In this article you’ll learn about new construction vs pre-owned homes and how to decide which is better for you!Thank you for stopping by.

_______

Are you searching for New construction or established homes? I understand the frustration and I have been there before. It was my first time buying a house and I had no idea what to look for. My Realtorwas showing me preowned homes and i grew tired of finding homes that did not excite me or that needed to much work to fix. Im a single parent, so I needed something I didnt have to worry about fixing or hiring contractors. I was looking for homes all over the internet trying to figure it all out. I quickly learned there were advantages and disadvantages to owning both.

Established homes:

Many do not have a Home Owners Association which is an fee you pay monthly that help to see your neighborhood maintained, although there are some that do. 

  1. You may or may not need to have renovations to your home because the previous home owner has probably already had certain area updated to their taste to a more modern look. This of course would save you money since you would not have to do those modifications on the other hand it is possible that you may purchase a home that has not been updated and those would be things you may or may not have to do upon moving in you’ll need to do some maintenance.
  2. The home will have less customization. Since its already built you would not be able to add a new kitchen layout, or add a certain amount of stories or pick out certain carpet. The style may not be yours in the beginning.But you may have more yard where you are not to close to other homes.
  3. You would not have to wait for your home to be built. Once you have decided on a home with your realtor, and offer accepted you can begin the home buying process, through closing and move in right away.
  4. The Energy costs may be higher unless the previous owner built an energy efficient home. This may cost you extra money in the long run until you either make your home energy efficient and start adding energy efficient appliances. During the older days technology was not where it is today and so these were not considered doing those times. 
  5. It would not be so cookie cutter style where all the homes look sht same, it would be unique 

New Construction

  1. Many may have a Home Owners Association (HOA) Community Development District (CDD),etc. . This is an extra payment you pay on top of other expenses for your home that may included various amenities as set forth by the Association, which would require homes to look a certain way, the hedges to look a certain way or a specific fence or color of the homes. 
  2. Since its a new build, many new homes are being built energy efficient and smart homes. This means the appliances and home monitoring system are environmentally smarter and this significantly lowers the price of your electricity bill, saving you money. It really helps the plant and the homeowners pocket.A lot of home builders include a warranty on the home similar to a bumper to bumper insurance on your car and like the car dealer will warrant certain things on the car the home builder does the same. They may warrant the plumbing, electricity, and other things assuming it may not be something you did or structural defects. You will need to know the terms and work with your home buyer Realtor to assist you with the details. 
  3. You can customize your home and add your preferred kitten layout, wall colors, flooring, bath room layouts, etc. You’re able to add your special touch to your home and spice it up the way you desire.Since you would not need to renovate the home, this would be extra money if available that you can use to perhaps buy furniture and decor.
  4. Many new homes have designated lenders that may have incentives they offer for first time home buyer or to those whom use their lenders saving you money for closing. Your realtor can help you locate your new build and they would review all their incentives with you. 
  5. The new home smell. When you walk in you will smell that brand new home and be the first person that resided in the home first. 
  6. You will have to wait for your home unless its already completed but if it is then you would be buying the home the way it already is designed unless the builder is willing to do so.

Which tips were most significant to you?

If you have not already and found this information to be beneficial Im going to ask you to do 3 things 1 subscribe to this blog, 2 like this video, 3 share with your friends.

In everything that I have discussed it really depends on the neighborhood, the builder, the location, etc would determine the details regarding specifics of your home. 

Has this information helped you, comment below. I love reading comments.