To Buy a New or Existing Home?

A basic question facing all home buyers is whether to buy a new or existing home. New homes, of course, will be more modern and should come without need of repairs. Existing homes, however, often mean a more rapid transaction and a better short term price appreciation. Newer homes may be in more remote locations and have smaller yards. On the other hand, you won’t be shelling out big dollars for a new roof or furnace in a brand-new home. Finally, newer homes should cut your energy costs as modern construction is approximately 30-40% more energy efficient according to industry analysts. and if you do decide to buy new, buy early as developers tend to raise prices as the number of new homes increases, particularly if the development proves popular.

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