Homebuying: Should you buy new or pre-owned?
It’s safe to say that U.S. real estate composed of two types of homes — pre-owned and new constructions. If you can’t decide between the two, here are four things to carefully consider.
- New homes have minimal issues.
New homes are easier to purchase as well. Nowadays, most home builders in the country have their own financing departments. This makes shopping for a loan a whole lot easier. Whether the deal offered to you is a good one, however, is a different question.
- New homes are more expensive.
- New homes aren’t built on great locations.
If you don’t mind living a short drive away from the city center, a new home in a new development might be an option for you. If you prefer living in an established neighborhood, close to downtown and a variety of amenities, investing in an old home might be the best course of action.
- Old doesn’t mean dull or boring.
In conclusion, it’s best not to close your doors on either old or new homes. Check out what’s in the market! What is important is you finding a home that suits your needs and lifestyle, regardless of how old it is.
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