New homebuyers are often faced with the option to purchase a new home or such existing home. Before making a decision, there are various things that the homebuyer must consider. Here are the things that you need to know when you would own a new home to having an existing one.
You have to consider the design and the layout. The new homes would tend to have such extras like bigger closets, larger rooms and bathrooms. There are often additional options like type of cabinets, paint color, the custom wiring for the appliances, phones, computers, the flooring and several others. The modern features such as the walk-in closets, the extra bathrooms and others are also available when building a new house. If you go for the existing homes, then you could have the design and the layout of the previous owner. You should also know that the renovations and the upgrades could be really costly too. For those who want to have heritage homes such as the Victorian hoes that come with hardwood floors and high ceilings, they may go for the existing homes.
Though those existing home are cheaper to purchase, they would need more maintenance which may increase the costs. The new homes usually come with durable materials such as the aluminum siding and the pressure treated wood decks which require little or no maintenance for many years. Those new homes are constructed from materials which only need little or no maintenance at all. The price for the existing home is often more negotiable.
The new homes usually have just no or little costs in wiring, plumbing, roofing and their heating systems. The existing homes may need upgrades and repairs too.
Also, there are a lot of homebuilders that provide warranties ranging from eight to ten years. The warranties may cover the problems that are related to construction. The new appliances like the refrigerators and stoves may also be under the manufacturer’s warranty. Existing homes don’t come with warranties.
New homes have better insulation, windows, and air filtration systems and their heating and cooling systems are more efficient. Those existing homes are not really energy efficient. They often come with poorer air circulation which means that more energy is used.
New home subdivisions are also made to offer various extras such as swimming pools, schools, parks and playgrounds. The existing homes don’t have this type of luxury.
Depending on the area, new homes can meet weather and geological standards for flash floods, tornadoes, hurricanes, earthquakes and a lot others. But, existing homes are not able to meet the present weather as well as geological standards.