Tuesday, September 15, 2020 / by Vanessa Saunders
Existing home or new construction? How 2020 has changed the discussion.
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
With so few homes on the market these days, having a new house built seems to be an obvious solution to finding the perfect home if you have the money. While moving into a space where everything is brand spankin’ new and built to your specific needs sounds great, it does have some downsides that didn’t exist before 2020. Here are a few things to consider when weighing both as you make the best decision for your family.
Existing Home:
One of the most compelling reasons to buy an existing home is that it is less expensive than a similar-sized home. Apart from the fact that older homes are typically lower priced, it used to be true that buying from a selling home owner also allows you to negotiate everything from price to possession date. But in today’s buyer’s market, new listings get multiple offers (some over asking price) the day they go on the market. Some home hunters are. ...
With so few homes on the market these days, having a new house built seems to be an obvious solution to finding the perfect home if you have the money. While moving into a space where everything is brand spankin’ new and built to your specific needs sounds great, it does have some downsides that didn’t exist before 2020. Here are a few things to consider when weighing both as you make the best decision for your family.
Existing Home:
One of the most compelling reasons to buy an existing home is that it is less expensive than a similar-sized home. Apart from the fact that older homes are typically lower priced, it used to be true that buying from a selling home owner also allows you to negotiate everything from price to possession date. But in today’s buyer’s market, new listings get multiple offers (some over asking price) the day they go on the market. Some home hunters are. ...
