If you're selling your home, the big question is: where will you go next? The good news is that the housing market is offering more choices than before, with an increase in the supply of both newly built and existing homes. But how do you decide which type of home is right for you? Here’s a look at the perks of each to help you make the best decision.
Perks of Buying a Newly Built Home
Opting for a newly built home has its advantages, especially in today’s market. Here are a few key benefits:
- Everything is Brand New: Enjoy the latest appliances, materials, and designs that have never been used before.
- Energy Efficiency: New homes often come with energy-efficient features that can save you money and reduce your environmental footprint.
- Fewer Repairs: New construction typically means fewer repairs and includes builder warranties for added peace of mind.
- Builder Concessions: Many builders are offering incentives and are more open to negotiations to make sales happen, which could make a new home more affordable.
- Competitive Pricing: Surprisingly, the median price of a newly built home is currently lower than that of an existing home. This isn’t usually the case, making it an attractive option for buyers.
If these perks appeal to you, working with a real estate agent who knows the local builders and communities can be a big advantage.
Perks of Buying an Existing Home
On the other hand, existing homes come with their own unique set of benefits:
- Established Neighborhoods: You can get a feel for the community before you move in, with mature trees and landscaping adding to the appeal.
- Variety and Charm: Existing homes often offer a wider variety of floorplans and styles, plus the charm that comes with a lived-in space.
- Room to Personalize: While you may not get the latest trends right away, you have the opportunity to upgrade and personalize over time, potentially increasing the home's value.
An existing home might be right for you if you value these lifestyle benefits and the ability to customize over time.
Bottom Line
Deciding between a newly built home and an existing one comes down to your priorities and what fits your needs best. Both options have distinct advantages, and in today’s market, it’s crucial to understand the opportunities available with each. Working with a knowledgeable real estate agent can help you navigate your choices and find the perfect next home after you sell.
