Should I buy a new or existing home?

The Intelligencer, May 2008 by Mary Lou Erk

New construction usually takes 9 – 12 months to build, unless you can buy a “quick delivery” home that a builder may offer. If you have the time and want to feel that you have had input from the beginning, then a new home is for you. If you desire immediate delivery, but like all the features of new construction, then consider a resale that is under 5 years old. You may get upgrades that the first buyer added that would cost considerable more if you were building in today’s market. There are many options when buying new construction so be sure to ask the salesperson what is standard. You may be quite surprised that the options you want could add $20,000 to your price.

If you are on a strict budget, a resale may be the better value. Cosmetic work may be required such as painting and wallpapering, but if you can do one room at a time you will not hurt your pocketbook as much and still get the job done. It is a lifestyle choice but either way can be a rewarding experience and a wonderful investment for the future.