With the downturn in the market and general fall in house prices the past few years, new home prices have come down substantially. This provides an opportunity to purchase a relatively low maintenance home. However, there is an over-supply of existing homes and that provides an opportunity to cut a great deal price-wise. Which one do you choose?

Think about existing homes. Generally in existing homes it is typical to have curtains, shades, garage door openers, fencing, hardwood flooring, landscaping, etc. included. Some of these things in a new home will be “optional” which means you will have to pay extra for them. In existing homes you have an opportunity to get a good feel for the neighborhood and can determine if it is a good fit for your needs. For example, if it is “kid friendly,” “close knit,” “active,” “quiet,” etc. If these descriptions are of a positive nature, they tend to enhance the desirability and resale value of the homes. Some people think new homes imply problem free, and there is really no such thing. Sometimes existing homes have had the “kinks” worked out or any problems can be identified by a licensed home inspector. Builders offer warranties and sellers of existing homes can do the same.

How about new? Some people feel a house isn’t theirs unless they are the original owner. They want to customize the home to fit their particular tastes and that has great appeal. Since the home is brand new, replacement and even repairs of components can be years into the future. That provides an opportunity to accumulate a cash cushion for the future when repair and replacement will become part of the routine of homeownership. You can also have it your way and customize not only colors, but flooring, fixtures, appliances, etc. Technology also changes and usually improves over time and new homes will have the latest and the best. They usually incorporate the latest advances in construction materials, wiring, heating, air conditioning, appliances, windows, and insulation. These upgrades can provide real savings in energy bills.

The choice is yours, and we are here to help you. Please contact us at lind.goodman@hendersonproperties.com or 704-544-0253.