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Should I Buy a New or Pre-Owned Home?

Should I Buy a New or Pre-owned Home? pre-owned home in NJ

When you’re ready for a new home, you might question whether it would be best to buy a pre-owned home or to build a new home. What is the best choice? What is the least expensive choice? There are so many things to consider when exploring either option. Educating yourself extensively on either choice is important because these are heavy decisions to make. A home is a huge investment so making the right choice for you and your family is vital. Below are some things to consider when picking between these two options.

Time

If you must get into a home in a hurry, building a house takes time. Digging the basement, pouring the foundation, constructing the house and then building the interior can take a minimum of 4-6 months - if not longer, not to mention all the many meetings with the builders to pick out counter-tops, hardware, flooring, paint colors and more. The process is very time consuming, so if you need to get into a home quickly, your trusted Gloria Nilson and Co. Real Estate agent will be able to find a home that fits the criteria you want in a shorter time space. 

Cost

In most cases (not always), it is cheaper to buy an existing home. In 2014, the median cost of a pre-owned home was $208,900 compared to a new build, which was $282,800. Purchasing a home from a seller can give you more bang for your buck. It might not have all the perfect colors you desire, but that’s nothing that a can of paint or a new roll of carpet can’t fix. 

Preference

If you have in your mind the perfect home and nothing on the market is coming close to what you’d like, purchasing an existing home might not be the right choice for you. If you have walked through dozens of homes and the layout doesn’t fit your plans or it’s not as functional as you wish, buying an existing home could be very frustrating. 

Consider all your options

Finding your next home is a weighted decision and a lot of work. You want all that work to pay off and fit your circumstances. At Gloria Nilson and Co. Real Estate, our experienced realtors will sit down with you and examine all your options so you can be assured you’re making the best decision for your future. We have years of experience and finding you your dream home gives us great joy. Call us today so we can ease the stress of finding your next home.


Published August 8, 2016 in Buying