Should You Buy a New Home or Purchase a Resale?
One of the biggest decisions for house hunters is whether to purchase a new home or a previously owned home. Due to the crash of the housing market, people have a literal smorgasbord of foreclosed homes and fixer uppers to choose from. Yet, many industry analysts say that people who either want to purchase their first home or are looking for a new home shouldn’t pass up the many benefits of buying a brand new property. While there are a number of homes that are foreclosed that are selling for pennies on the dollar, you might save even more by purchasing new home right out of the gate. So, should you buy a new home or purchase a resale?
One of the biggest benefits of owning a new home is that you have more flexibility. Typically, the person building the house allows the buyer to collaborate on the architecture and construction process. They can choose where the kitchen goes or what color a certain room is, which can make buying a home a little like getting fitted for a new suit that fits your personal tastes and interests perfectly. With a resale home you are usually stuck with what you’ve got and you might even find yourself going through an expensive remodel.
New homes also last longer opposed to resale homes. In most cases, previously owned homes have gone through the ringer with their first owner. You might be left paying for extensive repairs. These can even be repairs in the plumbing or the foundation of the house, which can be extremely costly. If you do purchase a resale home it is recommended that you have a housing inspector look at the property from top to bottom.
Also, newer homes are more energy efficient than older homes. Whether you are looking through listings for Katy homes for sale, or anywhere else in the U.S., many of the new building codes require special windows and utility saving insulation, that is not only great for the environment, but will also save you a lot of money on your next energy bill. Many older homes have improperly sealed windows and aging insulation, which can hugely contribute to things like heal and air-conditioning escaping during the winter and summer months.
In addition, newer homes are usually safer than older homes with better protection against theft, fire and other disasters. Because many of the building codes are updated, the doors and windows are sturdier to protect against break-ins. Also, many new homes are built with materials that can protect against fire and floods. Many older homes are built with lower quality wood and other hazardous material.
Lastly, purchasing a resale home will be far less expensive to begin with, but due to age and other factors you might find yourself spending more money in long run, which can lead one to believe that it was a bad investment to begin with. Purchasing a new home, however, has better building codes to protect against fire and theft, are more energy efficient, have less major repairs, and more flexibility as to customization. In the end, you want to find a property that won’t break the bank, but will feel more like home and not a hovel.