Although it may seem relatively simple at first, the process of buying a home often comes with a large handful of decisions that you'll have to make. Not only will you have to determine the criteria for the home you want, but you'll also need to decide what type of home you're willing to consider.
It's important to note that buying a home doesn't mean you have to purchase it from an existing owner. New construction and resale homes are both viable options for prospective homebuyers.
Not sure where to start? Don't worry, we’ve got you covered.
Let's take a look at everything you need to know.
Newly Constructed Homes
Many people forget to consider new construction as an option when searching for a home to buy. But, this type of property comes with a large handful of benefits that are often overlooked.
Let's explore a few of the most noteworthy you should keep in mind.
Since the home will be built from the ground up, it has to conform to contemporary building codes, security standards, etc. This means that you'll never have to worry if there's a segment of your home (such as the wiring) that isn't up to par.
This also results in a lower risk of health hazards. Health codes from decades ago are far looser than the ones of today. One of the most notorious examples is the presence of asbestos within homes that were built before 1970.
While this isn't to say that all homes that were built during this time period put the residents at risk, newer homes are guaranteed to be far safer.
They're also often outfitted with modern security technology, such as doorbell alarms, keypad locks, etc.
Additionally, new homes are often built in communities that are made up entirely of new homes. These are often gated and full of vigilant residents who strive to keep the community safe.
As you may expect, new homes are constructed with new materials. This provides two main benefits for buyers:
- The increased structural integrity of the home
- Less maintenance over time due to how recently the materials were manufactured
Since maintenance costs can sometimes result in you paying thousands of dollars for repairs, you'll save a notable amount of money over time. You'll also avoid the inconvenience of dealing with plumbing or electrical issues, having to hire a contractor to resolve the issue, etc.
Although not directly related to safety or convenience, newer homes will more likely than not incorporate modern-style architecture. Aesthetically, this will be a major selling point for most buyers.
But, modern architecture also includes attributes that older construction does not. This includes:
- Large rooms
- Walk-in closets
- Extra bathrooms
For those who are in need of (or simply enjoy) extra space in their home, having a home with this type of architecture will prove to be a pleasant experience.
Modern architecture is often a highly sought-after trait by homebuyers, which will make it easier to sell your home in the future if you choose to.
While there are plenty of benefits that come with purchasing a newly constructed home, resale homes have their own set of attributes that make them an attractive option for buyers.
Let's dive in.
Home Improvement Opportunities
Since resale homes are older, there will often be plenty of opportunities to make improvements on the property. This is beneficial for those who like to make small adjustments to their homes over time as opposed to paying for major renovations all at once.
A typical scenario could also involve purchasing a small resale home and adding rooms as the size of your family grows.
Older homes tend to have more land that's a part of their property due to the in land-use patterns from that era. This often equates to more yard space, and even longer driveways.
For those who don't want to feel claustrophobic next to their neighbors, resale homes are often a reliable option.
It should come as no surprise that resale homes are cheaper to buy than a brand-new home. The extra money that you save can be reinvested into the property in other ways, or you can simply save it for other needs.
An added benefit, though, is that resale homes come for a lower price while also including amenities a brand-new home normally wouldn't. This can include blinds, additions by previous owners, etc.
When you purchase a newly constructed house, the price is more or less set in stone. The materials, land, and labor have all been accounted for and factored into the home's cost.
But, there's often plenty of room for negotiation on the price of a resale home.
Factors like surrounding neighborhoods, the current condition of the property, and any readily-apparent issues can be used as leverage to drive the price even lower.
There doesn't have to be anything wrong with the home in order for you to negotiate. Many sellers tend to be flexible with their asking price.
Finding The Best Home For You Can Seem Difficult
But it doesn't have to be.
With the above information about the benefits of new construction and resale homes in mind, you'll be well on your way toward making the decision that's best for you.
PresGroup Homes' resale program and on-location realtors make it easy to sell your home if you're moving or if you're looking for a resale home. We've also helped buyers find newly-constructed homes in Washington for over a decade.
Want to learn more about how we can help? Feel free to get in touch with us today to see what we can do.