Sunday, February 16, 2014

Home buying--Why buying new is better than buying used

I am guilty of falling into the same thought process as most people...buying new is more expensive than buying used.  I mean, if you think about it everything falls into this cars, toys, electronics, books, etc.  In most cases, new homes cost more as well, but that is not the case now.

It is quite unfortunate for those that purchased right before the housing market took a hit.  Property values decreased leaving homeowners owing more than their houses were worth.  This change in the market also resulted in a lower demand for lumber and contractors; thus, resulting in lower costs for materials and services so builders could offer new homes for a lower price than a used home. 

Why wouldn't you want a new home?  Besides the fact that they are more energy efficient, compliant with all state and national codes, and warrantied, they will not have remnants of the previous owner.  What does that mean, you ask?  Yes, you can change the paint and carpet all you want, but I guarantee you will eventually find some unexpected surprise whether that is a toenail stuck in the baseboard in the corner of the room or toys shoved deep into the register vents.  With todays outbreak of bed bugs, would you want to take a chance that those little creepy crawlers could be hiding inside the walls waiting for new unsuspecting roommates?   I wouldn't!

Of course I may be biased because I now work for a new home builder, but after my eyes have been opened, I cannot fathom buying a used home ever again.  There is even some financing options available to new builds that you cannot get with a used home such as work equity and point contribution with a preferred lender. 

Just like brands of TV's, smartphones, and automobiles, not all builder's quality is equal.  I will save that information for my next blog, stay tuned........