Pros & Cons of Buying New vs Old 🏡
- Kenzie Fischer
- Aug 12, 2019
- 2 min read
So you want to buy a house!? *Cue the options!!* New or old? Move-in ready or one that requires repair? 'Cookie cutter' style or unique? There are millions of pros and cons when it comes to deciding on buying a new or old home.
PROS & CONS OF BUYING NEW
Pros
Customizable floor plans!! Need 3 bedrooms + an office on the main floor? No problem when you're working with a builder!
Fewer maintenance issues - with buying new, you more than likely won't come across things that will take time & money to fix.
Move-in ready! 🏡
Cons
More expensive simply because it's NEW - you can save $$ by buying homes that are 2-3 years old and still have the 'new feel'.
Finding a reliable builder who has experience and will do the job correctly OR making sure the new construction home you find was built by a builder who followed guidelines/policies.
Less room for negotiation in price 👎🏽
PROS & CONS OF BUYING AN EXISTING HOME
Pros
Pending on the age of the home, existing homes seem to have this character & personality that can't be beat 😍
Mature trees! 🌲Having mature trees can create an 'oasis look' to existing homes & add character to the lot.
The option to customize & change the things you don't like! (It might take longer, but by adding the customization you like + the character of the existing home = a vibe you can't find anywhere else!)
Cons
If it's an older home, a good majority of them are going to have smaller closets and rooms!
Spending more money on maintenance is possible, pending how well the home has been kept. Updating HVAC, wiring and plumbing at the beginning of your ownership might be a good idea to prevent any mishaps down the road!
Renovations 💰🏡 Buying a fixer upper may look fun from HGTV's point of view, but a lot more work goes into it than most people think! If you don't have the time, money or patience to renovate to your liking, buying an existing home may not be for you!
I hope this read was short yet informational! Personally I have a goal to buy an existing fixer upper & a new construction at some point in my life 😊
Buy, Sell or Invest With Me! 🏡
The Millennial Realtor
Kenzie Fischer
Keller Williams Realty Sioux Falls
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