There is a real debate currently about which type of home is better, new construction homes or already existing homes. Both are excellent values, they simply have different assets and drawbacks; both of which should be considered when purchasing a home. Let's evaluate these different home choices and explore what each of them has to offer.
Let's begin with older homes. Established homes have some great benefits that are desirable to mst homeowners. One major thing that most older homes can offer is larger property sizes. If you are a yard fan then you might want to consider looking into an older home. Newer homes are being built with smaller and smaller yards in order to maximize the amount of space builders have on which to build homes. Many older homes also have a level of construction quality that is hard to find these days. Many of the turn of the century and 1900-1950's homes were really built to last. They also have certain architectural elements that have seen a huge resurgence in popularity. Some of the drawbacks associated with older homes are things like out of date fixtures or plumbing & electrical systems, and the fact that there can be a lot of "wear & tear" on an older home.
New construction homes are very appealing. The fact that they are new and shiny with all the modern conveniences is highly attractive to many buyers. Usually these homes are in an area that is enjoying an prosperous time in the real estate industry and a lot of construction is happening. This means a wealth of new services and amenities and excellent appreciation in value. Some of the drawbacks to new construction homes are the fact that many of the homes are of similar style and there is not a lot of variation in the exterior or interior layout. Also as mentioned before, the parcels of land are typically becoming smaller and smaller. There is also the fact that most new areas hold a higher property tax rate than older areas.
Essentially the choice is completely up to you. Both types of home have some great benefits that are wonderful point for any home. But remember to consider the negatives of any home or area in which you buy. Do your homework and find the location that suits you and your needs the best.
