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Existing Homes VS New Construction

Posted by matt on May 29, 2013
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Right now new construction is growing fast in St. George; but is new construction the right choice for you? What everyone is looking for is never the same and it’s all about what you want as a buyer. Here are some pros and cons to hopefully make your decision easier.

New Homes

PROS

  • Contemporary style
  • Some flexibility on design during construction phase
  • Cheaper to maintain
  • Cheaper to operate
  • Extended warranties
  • A cohesive neighborhood
  • The smell of fresh paint
  • Frequently have a homeowners association (helps protect resale value

CONS

  • Cookie-cutter design
  • Higher price
  • Limited negotiating room on price
  • Generally smaller yard
  • Potential for monthly homeowner dues
  • Risk of shoddy construction
  • Frequently less character, or homogenous design
  • Frequently have a homeowners association (can put limits on how you use your property)

Of course, one homebuyer’s pro “ No one has lived in it before us, so we wont inherit any problems.” Can be another’s con “ No one has lived in it before us, so we have no way of knowing about any problems.”

Resale Homes

PROS

  • Availability: More choices, more styles to choose from
  • Lower prices: It’s not new anymore
  • Price may be more negotiable
  • Track record: Many repairs already made
  • Established neighborhood

CONS

  • More maintenance: Things break or wear out
  • Less energy-efficient: More costly to operate
  • Dated design, older appliances and amenities.
  • Generally smaller bedrooms, bathrooms, and windows
  • It’s been lived in

It all comes down to what is important to you and your family. Find a home you like, consider its pros and cons and think about the compromises you’re willing to make. Things that matter to some may not matter to others. But whatever you decide, our Real Estate agents can help you find what you want. New construction or existing – there is a home out there for you and your family.

Find more information at http://www.zillow.com/wikipages/Buying-Old-Homes-vs-New-Construction/

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