3 Smart Reasons To Choose An Existing Single Family Home, Instead Of New Construction
Posted on: 24 June 2021
Prospective buyers who have their heart set on building or buying a newly constructed home may not be aware of the advantages available in the existing home market. Similar to the draw of a new car, becoming the first owners of a newly constructed home can offer an intoxicating feeling, but will that feeling last?
If you are beginning the process of purchasing a home and are leaning toward new construction, here are some important reasons to reconsider.
Existing homes are often situated on larger lots
Low mortgage interest rates and the need for more housing has had the home construction industry operating in high gear for several years. Since construction costs have risen along with the demand, builders are constantly looking for ways to economize on the cost of building each home they produce.
One of the most common ways that builders economize on the total cost of their build is to reduce lot sizes so that more homes can be built in each subdivision or development. In addition to smaller yards, builders often choose to clear away trees, even healthy, well-established ones, so that homes can be built closer together.
Buyers who want a home with a large yard filled with lush, green trees and bushes will be much more likely to find success by purchasing an older, existing home where the landscaping has been carefully tended for years.
Existing homes can offer more parks or green space
Green spaces and small parks suitable for family use are much more common in older, well-established neighborhoods. Because of the push to squeeze more new homes into smaller and smaller spaces, space for recreational use is often overlooked or ignored. Buyers who want to experience the benefits of walking or biking along quiet, shady sidewalks near their own home are more likely to be able to do so when buying an existing home, instead of a newly constructed one.
Existing homes can offer higher quality materials and construction techniques
With the focus on building homes quickly for the least amount of money, it is common for builders to use materials and construction techniques that have generic appeal at the lowest possible cost. In contrast, many existing homes were custom built at a point in time when high-quality materials and skilled craftsmanship were much less costly to include. Because of this fact, today's home buyers who choose an older existing home, instead of a newly constructed one, can often find one with real wood floors, baseboards, and moldings and beautiful details like stained glass windows and ornate carved balusters and staircase spindles.
Before limiting your home shopping experience to newly constructed homes, talk to a trusted real estate professional about all the benefits to be found in an existing home. Contact a real estate agency like THE GROESBECK GROUP | Compass to learn more.
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