Whether it is the first time you are going to look at a used house found on DDProperty, or just another time in the long string of hunting for a home, buying a house is a very fun exercise. The reason that home shopping can be so fun is because every single house is unique. Even the houses that might seem like the exact same blueprint will always have different characteristics thrown into them to make them stand out. And, if you are looking for a house that isn’t brand new, the chances that the prior occupant put some new touches into the house while they were living there are strong as well. Anyone can get excited for a brand new house, but when it comes to home hunting these are some of the top reasons to consider buying an existing house on the market.
The simplest argument is that a house that is existing has already been created. You know the final design. You know exactly what you are getting. If you are going to check out the model homes then who knows if something will need to change when a brand new neighborhood is put in that could actually be different. A brand new home can be a good thing assuming that it is already established and in the ground only waiting for someone to move into it. However, if you are working with contractors, engineers, and legal loops to jump through for permits and other home registration or legal items, actually moving into a brand new house can take some time.
You may also decide that the current house is good as it is, but you never really get the chance to make it your own. Not that moving into a brand new home that has nothing left to do in it is actually a bad thing, but there are some people (both individuals and families alike) who think the best thing to do when you buy a home is go through and make it your own. By doing simple tasks like putting on a new coat of paint, adding some new carpet, or even updating the exterior features and landscaping you can take a house and truly make it into your home. The problem is if you let someone else do all of that, you will no doubt pay for all of those services in the price of your house.
Inflation Means Expensive
Speaking of price, everything that you see in a house is expensive. Everything you see also has to be paid for. The good thing is that if you can find a well put together house then it will not only be of old fashioned quality material, but it will also mean that it should cost less due to the inflation. Each and every year prices rise due to inflation. Not only do you get hit by the rising prices of the materials, but you also get a double whammy because the cost of the contractors who do the building, painting, finishing, and etc. are all seeing increased wages. A house that may be a few years or a few decades old might not have that new house smell and might have a little bit of wear and tear here and there, but it also means you won’t be paying top dollar to move into a house that isn’t really different than anything you could get that is already on the market other than the age.
Easier to Renovate
Another point to note when it comes to moving into a brand new house is that it is harder to renovate. Technically the physical aspect of renovations isn’t going to be any more or less difficult than if you did the same projects to an older home, but the overall cost will be. If you want to knock down a wall and expand a certain room to give you a bigger view, then you can do that in either house. However, when you think about the fact that you are paying for every inch of a brand new house, it might not make as much sense to actually tear things down and throw them in the trash when you are still paying for them in the form of a mortgage.
When you are house hunting, however, you may come across some things in a home that are a little beat up when you are looking for a used home versus a new one. The benefit to that situation is that you can ask the seller to drop the price a bit for that home, and then you can not only take care of the project yourself but you can do it without having to double pay. It might not seem like a significant amount of a difference but if you can knock off a few hundred (or even a few thousand) dollars up front, you will be surprised at just how far that will drop your monthly payments and mortgage. And when you consider that you can literally have the home that you want with the seller willing to drop the price oftentimes just so you can work on projects and make the home more of your own, the outcome is an incredible strategy and win for your new home.
Whether you decide to go for a brand new home or not truly will come down to your current needs and preferences. You also have to consider all of the options of given house from location to cost, upkeep and the whole package as well. However, when some of the top homes around are on the market simply because the family that currently lives in them is looking for something different, you need to remember there is a reason that someone has lived in that home for so long in the first place. You truly can find quality by simply scouring over the used and existing homes market. And, as long as you are looking for something that might be a significant amount cheaper than the brand new homes, you could find the perfect living spot for you.