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Most people would probably tell you they'd rather be driving a new car instead of a used one, but the reasoning behind that choice is easy to understand. Used cars just don't last very long, and they generally cost a lot more to keep running. When it comes to a New vs Used Home, however, a house can last many lifetimes, and the differences between the two products can be extensive.
The most compelling benefits derived from buying new homes are functionality, efficiency, and the hot new designs and features. This has sent many homebuyers flocking to visit new model home communities on the weekends, without even considering a used home. If these aspects were all that mattered, however, then you'd probably be prepared to make this decision right now.
Used homes provide their owners with mature landscaping, close-in locations, full brick exteriors, and sometimes a neighborhood charm that cannot be duplicated so easily with new homes. Over the years, buyers could save money by buying a used home in an established or existing neighborhood instead of paying a similar price for a smaller, but brand new home, elsewhere. Times have changed, though.
Although new homes have generally been more expensive due the increasing cost of labor and materials, that isn't always the case anymore. More recently, market forces have worked to close the "value gap" between these two home choices in the marketplace. Today, you might see some surprising comparisons from new to used, depending on your location and price range. Now, there are many used homes that are easily more expensive than new, primarily due to the desirability of a particular neighborhood or location.
In order to best identify the pros and cons of choosing a New Home Vs Used Home, we've written a special article entitled "New Vs Used Homes: A Value Comparison." To find out more in terms of value and investment potential, simply fill out the easy form below, to retrieve this helpful article.
Michael Dagner is an expert in Denver-Area home sales.
Call today, (303) 514-4000, for help with your home sale or purchase.
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