Home buyers today are still faced with the same question that home buyers have faced for endless decades. This question is, build a new home, or buy a pre-owned one? Assuming someone has a set amount of money to spend, regardless of which choice is made, certain considerations can sway the choice in one direction or another.
Building lots are generally more readily available in either suburban or rural locations as opposed to urban areas. Someone who likes living in the midst of a city will be likely to find a more suitable location with a pre-owned home. In another instance, pre-owned lake homes can be hard to find in some locales, so purchasing a lake lot to build on may be the way to get a home on the lake, or vice versa. Home buyers may need to decide what their preferred choice in location might be, prior to making the final decision.
With a set amount of money in mind, the same amount of cash may buy more living space in a pre-owned home than in a new one. This could also apply to the usable space of a yard, and to any outbuildings. Someone with a large family, or who likes a lot of space, might find a pre-owned home to offer more room for the same price.
A newly built home is quite likely to require landscaping before the yard can be enjoyed and the place can be finished. This can be a plus or a minus. Someone who prefers to create his own space might find this to be an asset. Someone who doesn’t care for the extra time and expense might not want to mess with it at all. Older homes will often have mature trees already in the yard, whereas a new build will sometimes begin with no trees. Landscaping the yard of a pre-owned home is very often a voluntary task.
Most older homes are sold as-is, while new builds generally come with at least 1 or 2 year warranties on craftsmanship, appliances, and the like. This can be something to consider, as well.
Depending upon the age and upkeep of a house, it may need updating of things like electrical service, and could need things like new windows or additional insulation in order to not be a drain on the household finances. A new home will already be up to current industry standards, and will often be more cost-effective in the long run.
Many new homes are fully taking advantage of advancements in green technology, by utilizing all of the latest techniques. Green building materials are becoming more popular, as are energy efficient tools such as solar panels to heat water and/or generate electricity. Some homes are now becoming so amazingly efficient that they are self-heating and self-cooling, forgoing the use of a furnace or air conditioner. Someone who desires a green home can go all out with a new build. An older home can be renovated, however, it cannot be fully green without completely rebuilding it from the ground up. This, of course, would make it a new home anyway.
An older home isn’t always in need of repair, and a new home isn’t always trouble-free, so choices are best not made from these assumptions. Personal preferences, budget, and knowledge will help to steer a home-buyer in the right direction when choosing between buying new or pre-owned.