Buying a house is a huge investment. For many people, it will be the single largest purchase they make in their entire life. Buyers are also faced with a large number of options when considering homes for sale. In fact, last year about five million residences were sold in the United States. One of the first decisions you should make is whether you want a new or existing residence.
First off, there are a lot more existing homes for sale than new ones. In fact, of the roughly five million houses sold last year, around 90 percent were second hand. So buyers immediately have more options available to them. With this wide availability, older construction will generally be cheaper than new construction. For many first time buyers, this is one of the biggest selling points of buying an existing home. These structures are also generally built on the most desirable land available. For example, the lots that are close to the ocean, have good views, or are especially large, will be built on before the rest. If a pre-owned house is from the mid 20th century or earlier, buyers will likely see the use of higher quality materials in the construction of the residence. The level of craftsmanship on older homes is, on average, much higher as well.
On the other hand, new homes for sale offer their own distinct advantages for buyers. One of the biggest is the fact that everything in the residence will be brand new, never used, and under warranty. Many buyers use most, if not all, of their savings to purchase a house, and as a result, they can be left struggling to pay for any repairs that might be required. Buying a new structure means that any repairs in the first few years are unlikely. If they do occur, there is a good chance that they will be covered under either the manufacturer's or contractor's warranty.
Along with the peace of mind that brand new construction brings, new house buyers can also custom-build their residence to fit their needs. While the task may seem daunting to many people, the alternative is to spend decades in a house that does not meet all of their requirements. Just as every family is different, so too are their needs for their house.
Finally, new homes for sale were built with the modern buyer in mind. In 1983, the average size of a house in the U.S. was around 1,700 square feet. Today it is almost 2,600 square feet. Today's buyers want garage storage, double-paned windows, security alarms, extra-large pantries, and open floor plans. Contractors know this and are designing their residences to appeal to today's homeowners.
First off, there are a lot more existing homes for sale than new ones. In fact, of the roughly five million houses sold last year, around 90 percent were second hand. So buyers immediately have more options available to them. With this wide availability, older construction will generally be cheaper than new construction. For many first time buyers, this is one of the biggest selling points of buying an existing home. These structures are also generally built on the most desirable land available. For example, the lots that are close to the ocean, have good views, or are especially large, will be built on before the rest. If a pre-owned house is from the mid 20th century or earlier, buyers will likely see the use of higher quality materials in the construction of the residence. The level of craftsmanship on older homes is, on average, much higher as well.
On the other hand, new homes for sale offer their own distinct advantages for buyers. One of the biggest is the fact that everything in the residence will be brand new, never used, and under warranty. Many buyers use most, if not all, of their savings to purchase a house, and as a result, they can be left struggling to pay for any repairs that might be required. Buying a new structure means that any repairs in the first few years are unlikely. If they do occur, there is a good chance that they will be covered under either the manufacturer's or contractor's warranty.
Along with the peace of mind that brand new construction brings, new house buyers can also custom-build their residence to fit their needs. While the task may seem daunting to many people, the alternative is to spend decades in a house that does not meet all of their requirements. Just as every family is different, so too are their needs for their house.
Finally, new homes for sale were built with the modern buyer in mind. In 1983, the average size of a house in the U.S. was around 1,700 square feet. Today it is almost 2,600 square feet. Today's buyers want garage storage, double-paned windows, security alarms, extra-large pantries, and open floor plans. Contractors know this and are designing their residences to appeal to today's homeowners.
Courtesy By :- http://ezinearticles.com/?Choosing-Between-New-and-Existing-Homes-for-Sale&id=9332334
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