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Coldwell Banker Lynch Rigsby Realty

Buyer Preference: New vs Existing

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Have you ever wondered what pushes a home buyer to select a particular home? According to American Housing Survey, the top two reasons for choosing a home were its size and room layout/design. For buyers of new homes, room layout/design, neighborhood, exterior appearance and construction quality tended to be even more important than for other types of buyers.

According to Trulia’s latest survey, twice as many people prefer new homes to existing homes.  “New” means exactly that; brand new properties that have never been lived in before or homes purchased in the pre-construction phase.

While shiny and new sounds nice in theory, what is actually behind the allure of these properties?

The Pros

  • You’re able to have the builder customize the home before construction is completed, so it will be built with your personal touch and painted in your color palette – a big bonus!
  • With new construction or pre-construction purchases, the work is done for you. You don’t have to lift a finger, a paint brush, or a hammer.
  • New homes come with some of the design elements that today’s lifestyle demands: open, eat-in kitchens, walk-in closets, and large master baths to name a few.

The Cons

  • Brand new homes can cost more – sometimes up to 20% more than a similar existing home.
  • All those fabulous amenities you saw in the model can really add up.  Upgraded features are marked up heavily for the construction company’s profit and can end up costing you far more than you ever intended.
  • Many new construction neighborhoods and developments are built far from necessary destinations like schools and your usual supermarkets and shopping centers.

Give me a call today and let me help you find what home fits you and your needs.