Where Will You Go After You Sell?
If you’re planning to sell your home and move, you probably know there’s been a lack of options offered. But here’s the good news: the supply of homes for sale has actually grown in a lot of markets this year– and that’s not just existing, or previously-owned, homes. It’s true for newly constructed homes too.
How do you choose which route to go? Do you purchase an existing home or a new one? The choice is yours– you just require to figure out what’s crucial to you.
Advantages of a Newly Built Home
Here are some advantages of buying a freshly built home today:
Have brand new everything with never-been-used home appliances and materials
Use energy effective alternatives to conserve cash and leave a smaller footprint
Decrease the need for repairs and gain from contractor guarantees
Take advantage of contractor concessions that can assist with affordability
In today’s market, a great deal of builders are focusing on selling their existing stock before they include more homes to their mix. And some of them are offering concessions and are more happy to work out to make a sale happen.
That, coupled with the reality home builders are primarily building smaller, more affordable homes, has caused another possible perk. The typical rate for a freshly constructed home in today’s market is really lower than the typical rate of an existing home– which isn’t usually the case. Ralph McLaughlin, Senior Economist at Realtor.com, shares:
” Homebuyers who are searching for that ‘new-home smell’ might be in a relatively friendlier market than times past when new homes were considerably more costly than secondhand ones.”If
you’re interested in seeing what contractors nearby need to use, lean on your real estate agent. Their knowledge of regional builders, brand-new communities, and home builder contracts will be very important in this process.
Perks of an Existing Home
Now, let’s compare that to the benefits of buying an existing home.
Join a recognized neighborhood that you can get a feel for before relocating
Choose from a wider variety of designs and floorplans
Value the lived-in appeal that just an older home can provide
Enjoy the personal privacy and curb appeal of fully grown trees and landscaping
In addition to these lifestyle benefits, there’s tactical worth to buying an existing home, too. Remember, you can constantly make upgrades to an existing home down the roadway to offer it a few of the most recent functions available. This gives you the very best of both worlds: you’ll get the appeal, the area, and over time, you can still add those on-trend elements you may see in a new home. And if you do, you’ll likely increase the home’s value too. An article from LendingTree describes:
” … they can personalize it and perhaps increase its possible resale worth with cosmetic upgrades … Plus, if a home includes physical details or stories that include appeal, sometimes, these elements are appealing enough to add to a home’s resale worth …”
Want to see what’s offered? Your real estate agent can reveal you what homes are for sale in your location, so you can see if there’s one that works for you and your requirements.
Bottom Line
There are a lot of elements that go into deciding whether to purchase an existing home or a recently built one after you sell, however it’s vital in today’s market to understand the opportunities you can discover in both. Let’s connect so you have expert guidance as you check out the options in our area.
Do you buy an existing home or a new one?, more affordable homes, has led to one other prospective perk. In addition to these way of life benefits, there’s strategic value to purchasing an existing home, too. Keep in mind, you can always make upgrades to an existing home down the roadway to offer it some of the most current functions offered. And if you do, you’ll likely increase the home’s worth too.