Where Will You Go After You Sell?

If you’re planning to sell your house and move, you probably know there’s been a shortage of options available. But here’s the good news. The supply of homes for sale has grown in a lot of markets this year. That’s not just existing, or previously owned homes. It’s true for newly built homes too.

So how do you decide which route to go? Do you buy an existing home or a brand new one? The choice is yours. You just need to figure out what is most important to you.

Perks of a Newly Built Home

Here are some benefits of buying a newly built home right now:

• Have brand new everything with never-been-used appliances and materials
• Use energy efficient options to save money and leave a smaller footprint
• Minimize the need for repairs and benefit from builder warranties
• Take advantage of builder concessions that can help with affordability

In today’s market, a lot of builders are focusing on selling their current inventory before they add more homes to their mix. And some of them are offering concessions and are more willing to negotiate to make a sale happen.

That, coupled with the fact builders are primarily building smaller, more effordable homes,, has led to one other potential perk. The median price for a newly built home in today’s market is actually lower than the median price of an existing home.. That is not usually the case.

Perks of an Existing Home

Now, let’s compare that to the benefits of buying an existing home:

• Join an established neighborhood that you can get a feel for before moving in
• Choose from a wider variety of floorplans and styles
• Appreciate the lived-in charm that only an older home can provide
• Enjoy the privacy and curb appeal of mature trees and landscaping

In addition to these lifestyle benefits, there’s strategic value to buying an existing home, too. Remember, you can always make upgrades to an existing home down the road to give it some of the latest features available. This gives you the best of both worlds: you’ll get the charm, the neighborhood, and over time, you can still add those on-trend elements you may see in a brand-new home. And if you do, you’ll likely increase the home’s value too.