Which One Should You Buy: A New Home Or An Old One?
- January 16, 2019
- By Admin: Jamey Konicki
Are you having a hard time deciding whether or not you should buy a new home or an old one? Well, we are here to answer your questions and provide you with some pros and cons.
Buying A New Home
Often, when it comes to buying a house, almost every home builder have each of their very own financing department. As such, this might make it easier to get VA loans San Antonio or other mortgages. If you want to buy a house, you probably have better odds with purchasing a new home. After all, the builder already vested some interested so you will get into financing.
A new home also most likely has lesser competition. However, that’s not all there is to it. Here are some advantages to buying a new house.
Pros Of Buying A New Home
No major issues and brand new
When it comes to buying a house, probably the brand new one is what everyone wants. And why wouldn’t they? A new home offers no significant issues and is pretty clean compared to old houses. You won’t find any leaking roofs and smelly closets left by the previous homeowners. Everything you see is sparkly clean and brand new.
If you are eager to stay in your new home, you can move in anytime. There’s no need for you to wait for the previous owner to finish any work or renovations before you can move into the house.
It’s no secret that new houses often get the best and latest technologies. It easily compliments the newly installed tiles and clean walls.
Compared to old houses, new homes are often created with the current design trend in mind. If it’s all about modern and sleek, your house probably is also one.
Less competition and more choices when it comes to floor plans
There’s no need for you to worry about other home buyers since new houses are mostly bare and designed to your liking. You can quickly ask the home builder to customize it for you.
Disadvantages to Buying A New Home
That’s right! New homes are more expensive than used ones. You have to consider the upfront cost, and you also have to pay for a premium for your house.
The location might not be ideal
The location is your biggest value driver, and the new house you are going to buy might be in less desirable areas. Sometimes, they can be located in the outskirts of urban areas. AS such, you have to consider this. Sure, you bought the house of your dreams, but it might not be in the ideal location.
Buying Existing Homes
On the other hand, here are some advantages and disadvantages of buying an existing home.
Pros To Buying An Existing Home
- Better location
- May have new upgrades
- Easy to renovate
- Have more design and character
Cons To Buying An Existing Home
- Harder to find
- May have existing major issues
- Tricky financing
- Can be more expensive than new homes
- Fewer amenities
- More competition