New home vs. pre-owned home: If you’re looking to buy a place to live, this may be one of your primary considerations. Should I buy a shiny, new home? Or am I better off enjoying an older home’s fun character?
Truth be told, there’s no one-size-fits-all answer as each type of purchase has its distinct pros and cons.
Buying a Brand-New Home
Let’s start by discussing the benefits of buying a new home.
The most obvious benefit of buying a new home is that it’s “new”. It’s clean, untouched and no repairs are needed.
Additionally, it has all the modern amenities installed, and it doesn’t come with construction issues such as asbestos, lead paints, high VOC flooring etc., which old homes usually have.
These are some pretty big incentives.
Furthermore, a new home is easier to buy. You’ve home builders with their mortgage divisions which makes it easier to find financing for a new home and get rebates on New Construction Homes TX.
Last but not least, a new home may also accompany builder’s warranty which can give you a peace of mind when investing your hard-earned money into the property. Builder’s warranty on new homes is quite common in states like Texas and California.
Now let’s take a look at some drawbacks of buying a new home.
A new home usually costs a premium. It’s the cost you pay for that newness, latest home security system, solar panels, EV charging stations and other similar things.
Second, if you love nature, a new home’s landscape may underwhelm you—unless, of course, the builder has got the greenery covered in the design.
Third, the location of a new home may not always be ideal. It could be located in the city suburbs, in the countryside or in areas where development is still low. This means you may have longer commuting distances to travel which can be inconvenient to say the least.
Buying a Pre-Owned Home
Like, a brand new home, a pre-owned home also has its benefits.
First and foremost, it’s an old-world construction. Let’s be honest; nothing can beat the reliability and durability of the pre-modern era construction materials and craftsmanship.
Another benefit of buying an old home is it is likely to be located in an established neighborhood. You may have convenient access to hospitals, markets, schools and offices. Plus, living in a populated area will also give you a sense of security.
Aside from better quality construction and a convenient location, a pre-owned home also has more character and charm compared to a newly built home.
What are the drawbacks of buying a pre-owned home?
There are several, including:
- Higher maintenance fee
- Possible need for repairs
- Higher insurance costs
- Financing could be tricky
What’s your decision?
So what do you think? Which type of purchase will be better for you? Regardless of whether you decide to buy a brand-new home or a pre-owned one, Builder Bucks can help you find and finance your dream home at a discounted price. We work with real estate agent Harris County Texas to offer our clients real estate rebates on the purchase of new and old houses.
Register with us today and we’ll connect you with a lender and real estate agent in our network.
