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Congratulations! You have decided to purchase a home, or are thinking about buying one. You'll be joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family. When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours. Over time, your home will increase in value. In the following reports, you'll find the information you need to make a wise buying decision. We'll take you through the planning process step-by-step , to help you determine which home is right for you. You'll find a host of informative articles on mortgages, viewing homes, the offer, closing details and moving. Please contact me if you have any questions about buying a home in the Greater HOUSTON Area, or if you are planning to move ANYWHERE in the USA. Below, select desired reports and complete the form provided.
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New Homes versus Used Homes
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You've been considering it for a while, and you think finally the time is right to buy a new home.
However, a major decision must be made -- deciding whether to build a new home or buy a used home. Both have pros and cons. Here are some tips to help you decide. Building A New Home Advantages: - You will have the pleasure of designing your own plans.
- You can personalize your home to your exact tastes and needs.
- Everything is new so there are few worries of repairs.
- A new home comes with a warranty.
- Many homebuilders offer services to assist prospective buyers with securing affordable financing for a new home. Due to the number of safety features in new homes, insurance rates also tend to be lower.
- Many new homes come equipped with the latest energy-saving features that reduce energy bills.
- You can finance upgrades and options into your purchase price so you don't have to pay for added features up front.
- New homes must adhere to local building codes and regulations and already meet the strict criteria imposed by today's mortgage companies.
- You know your builders.
- You can start fresh with decorating.
- You'll get a feeling of accomplishment when you move in.
- A new home feels like a little piece of you.
Disadvantages: - If you build a new house, it usually costs more as you need to consider the interim interest during the construction phase.
- If your property is on a housing development, construction work could continue after you move in. You should first find out for how long and the amount of impact it could have on your home before you make a purchase.
- Consider your view once everything is finished being developed.
- Houses often lack character when built on a housing development. They often all look the same.
- With new construction, particularly in a new subdivision, you never have a solid feel for a house's value.
- Your home inspector will not be able to inspect a house that's not built yet and new homes are not always trouble free. However, there is a warranty.
- New houses rarely have mature gardens. Unless you have a green thumb, your new garden may look plain compared to a more established garden.
- With a new house, there's a danger of crowded schools, poor drainage, and an abundance of new construction that can make it hard for you to resell your house.
- A new home doesn't always have the charm of an old one.
- The builder's reputation is everything. A disreputable builder can ruin the entire new
home buying experience. Buying A Used Home Advantages: - There are fewer complications to worry about.
- Sometimes you can get a much larger used home for the same amount as a smaller new home.
- The process is not as time consuming and you will not experience delays while waiting for your home to be built.
- Taxes are already established for the neighborhood and are stable.
- A used home often is located in an established neighborhood and has found its true value in the marketplace.
- Established neighborhoods tend to have their own personalities such as mature trees and larger yards.
- Older building styles tended to lean toward higher, plaster ceilings, hardwood floors and decorative woodwork.
- Established neighborhoods are usually closer to the city. Urban living usually puts you at the center of the action.
- Buying a used home will save you money for interest payments associated with a new construction.
Disadvantages: - Because your home is previously owned, there may be an immediate need for repairs.
- Putting money away for repairs is a good idea because you never know what could break.
- A warranty does not come with a used home.
- Remodeling and added features must be paid for up front with cash.
- When you find your dream home, you feel pressured to buy before someone else beats you to it.
The majority of people are still opting for a used house rather than a new one, according to Dennis Austin and Patti Hutchins from CHR Realty in Brunswick, Maine. Of the people who are buying a new home, most are buying an already existing new home, rather than having one built. Before you purchase your home, consider the factors, do some research before deciding what option is best for you. | | |
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