Many of us have thought about raising a family in a new home. Recent studies show that nearly twice as many people prefer buying a brand new home over one that has been previously owned. While being the first owner of a house can be a satisfying experience, it is important to know whether it is the right decision for your family.
The Perks of Brand New Homes
I've noticed that a big reason why people buy brand new homes is because of the option for customization. Some people want to be part of the design and building processes to make sure they get exactly what they want. Buying a home new also means you don't have to worry about putting work into it yourself. Unlike previously owned homes, new homes hardly ever come with cosmetic issues. This allows you to move right into your new home without having to repaint trim, replace gutters, or any other daunting tasks. A new home will also have low maintenance costs throughout the year since everything is brand new.
The Pitfalls of New Homes
The main reason people don't buy brand new homes is that they can cost up to 20% more than previously owned homes of the same caliber. Many times, brand new homes are built in brand new developments, which can be far from schools and other neighborhoods. Homeowners may be bothered with the feeling of being isolated from other communities. There is also the possibility of noise and the inconvenience of new construction.
Aside from the financial and locational aspects, many people buying a home simply don't believe new homes have as much character as older ones. Modern architectural styles tend to be a bit more "cookie cutter" than they used to be. Plus, buying a previously owned home allows you to work with professional realtors who understand the market and can give you multiple options.
Buying a home, whether new or previously owned, requires much careful consideration. Consider these pieces of insight before you purchase your next home!
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