Should you buy a new home or previously owned?
Wondering if it's better to buy a new or previously owned home? Here are a few things to consider:
If you aren’t looking for your “forever home,” an existing home’s value will be well documented giving you a good idea of what you can expect when you sell in a few years.
If you buy an existing home, you’ll get more for your money, especially in today’s market. Older homes generally cost less than new homes.
If you build from the ground up, you may need a construction loan which can have a higher interest rate and down payment than a mortgage for an existing home.
If you buy new, you’ll be able to customize your home. Options range from choosing a floor plan to selecting backsplashes, paint colors, cabinet hardware, and light fixtures.
The good news is there’s no right or wrong. Whether it makes sense for you to buy a new or existing one depends on what is best for you and your family. Wanna chat more or tour both types of homes? Send me a DM!