Are You Better Off Buying a New Home or a Pre-Owned One?

In terms of new construction, one of the primary benefits is that everything is brand new and still under warranty with the home builder. In fact, it’s almost as if you’re renting for the first 12 months, because if you have any problems with anything, the builder will fix it.

One of the drawbacks, though, is new construction typically isn’t centrally located within the town you live in. It’s usually near the suburbs, which means you might have a long commute to work every day.

Also, the greenery is relatively new in new construction neighborhoods, so if you want to block your neighbor’s view inside your home, you either have to wait 20 years for the tree in your yard to mature or pay for a fully grown one to be transplanted. Additionally, the lots are not as large in new construction neighborhoods.

When it comes to pre-owned homes, the main advantages are that they’re typically in a better location and you can usually get a better deal price-wise. Also, since the home’s already been lived in, the kinks have already been ironed out, so to speak.

For example, I once bought a new construction home without ordering a full inspection for it, and it turned out that one of the pipes wasn’t installed correctly. We found this out the hard way after discovering that our master bedroom had been flooded.

This brings me to my final point—no matter what type of home you buy, always order an inspection for it before you sign on the dotted line. This will give you peace of mind because it’s the best way to find out where it has any issues that need to be fixed.

If you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you.