A brand new home is a massive, often life-changing investment for any family, and the decision of which house to buy, and why, is a considerable undertaking, but if done right, it does not have to be a stressful chore, but instead, can be highly rewarding and can save the buyer some money along the way. And, of course, the end result is that a wonderful new home is ready to be lived in. The housing market can be an intimidating thing, but knowing how to navigate it is half the battle, and a person searching the market can call upon professional help to get the best deal when getting a brand new home. What modern home plans are best, and how can one find new homes for sale at a good price? What can modern home builders offer for their customers? These and more are important questions for anyone on the real estate market.
Understanding the market for a brand new home can start with understanding who is buying and selling homes, and why. Often, buyers begin their search online; 42% of recent buyers started the process by using Internet searches for properties, and by contrast, only 14% contacted a real estate agent for help. Many buyers, or two in five, somewhat or strongly prefer a newly built home over an older one, so someone who is also searching for a brand new home should expect to find some competition. New home designs can also better accommodate the modern family and demographics, since it has been determined that houses are getting bigger while families are shrinking (on average), and new home designs may reflect this. Often, having rooms for a study, home gym, or guest accommodations may be highly desirable.
Brand New Homes VS Used Homes
There are reasons to shop for a new home or an older one that someone is moving out of, and tricky aspects to each.
For a new home, one of the biggest issues for a buyer is simply the competition, since so many people will want one due to the lack of maintenance issues and modern designs for the layout and decor, not to mention contemporary building standards and safety codes. The price of a new home may also reflect this, and real estate buyers with a limited budget may opt out of this market entirely, but those with high incomes may find just what they are looking for. One option is to find tract properties, where a large tract of land was privately purchased, and then multiple copies of the same home were built on it. This can lower prices even on a new home, but selling it can be difficult, since the home has no unique features to make it stand out from the competition other than the price itself.
Buying a used home can be tricky, but can result in good deals. The downsides to older homes may turn away higher-income buyers, but others can take advantage of the lower prices if they know what to look for. A used home may have some maintenance issues on the inside or outside, so inspecting the home in person is critical to ensuring that the home is somewhere the buyer wants to live in. New home buyers should do this too, of course, but the need is even greater in the case of used homes. The list of issues to look for is vast, but some of the more common features or problems to look out for may include damaged drywall (such as from water), termite or carpenter ant damage, drafty windows or doors, worn out or dirty carpets, loose door hinges, mold (which may be a health issue), mouse holes, holes in the roof, worn out or missing wall insulation, and issues with the heating and air conditioning like squirrel nests, torn air ducts, or clogged air vents. Some of these issues, and others, may be cheaper or faster to fix than others, and a buyer must use his/her best judgment when looking over a used home, and consider the time and money needed for any repairs. But if a used home has no maintenance issues, or issues that are easy to fix, a used home can be an excellent deal.