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Is it better to buy a new home or a home that's a few years old?

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January 07 - Desoto
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Answers (10)

Profile picture for user6333311
Buying a new home offers great peace of mind because pretty much everything inside is warranted for 5-10 years.  That's a good feeling.  Especially helpful for the tight budgeted.  And, it is as move in ready as a house can get.

If you plan to stay put for several years, then a new build can be a great choice.  If you plan to sell in 5 years, maybe not.  If the subdivision or even the immediate area is still in development, when it comes time to sell, you'll be trying to get the same price for your used house that a buyer can get down the street on a brand new one.  Short term, your home will probably lose resale value for that reason.
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January 12
Profile picture for SoCal_Engr
a consumer perspective...

"This answer depends on the quality of construction of the new home as opposed to the antique home."

<soapbox>

Where in the question was there anything about "the antique home".

A big element of what I consider to be "service" is the ability to listen to the original question and provide an answer, not to introduce and then pontificate on a different topic.

That doesn't mean the information is not interesting, nor meaningful. But, as a consumer, it makes me wonder...

-- What else is this person, whose livelihood involves communication, messing up? How's that going to play out in any future communications?
-- If a person substitutes their own topic/answer and doesn't respond to my question, are they really listening to me? Or, listening "just long enough" to index into a set of pre-fabricated answers?
-- If a person displays this type of behavior now, is it an inherent part of their personality? Am I willing to deal with it?

In my personal experience, too many people think of communication as "the ability to convey information". The more important aspect of communication is "being able to discern the interests/needs of the other participant(s)".

</soapbox>
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January 12
There are a lot of answers to this question. Here's one:

This answer depends on the quality of construction of the new home as opposed to the antique home. Wood from antique homes often comes from trees that are old and therefore dense, whereas the wood of new construction homes usually comes from trees that are relatively young, which means that the wood lacks density and the same level of quality.

Secondly, when many antique homes were built, there was more time and effort put into the construction, and many homes today are constructed for a quick profit and not always of quality; careful!

 I wonder how long many of the new construction homes will last! You have to factor in asbestos, lead paint, and lead pipes etc. of antique homes into the equation. A good inspection by a structural engineer will determine insect damage and settling due to age of an antique. Antique homes can have lots of repair issues and can cost a lot in updates and repairs.

Good luck!

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January 11
Profile picture for SoCal_Engr

a consumer perspective...

To me, the key is your use of the phrase "...a few years old".

The pros to a new house are...
-- You will get a chance to have the builder do some structural upgrades.
-- You will get to choose finishes (e.g., counters, cabinets, doors, trim, paint, flooring, etc.).
-- You will get to design and landscape "how you want".
-- In other words, there's a lot of "clean canvas" that you get to paint on

The cons to a new house are...
-- There will be things that need to be fixed. They'll be under warranty, but you'll need to deal with them.
-- You have no idea who will be living in the neighborhood. There's always "that chance..."

The pros to a "few years old" house are...
-- Any build defects should have been discovered and dealt with
-- You have a pretty good idea of how the neighborhood/neighbors are
-- You don't have to deal with things like installing hardscape/softscape/irrigation/drainage/etc.
-- You're dealing with an individual, vice a business. This could be a "plus" in negotiations.

The cons to a "few years old" house are...
-- It's not a "blank canvas". If you don't like it, you'll have to remove/replace.
-- Hopefully, it's not been trashed. But...
-- You're buying from a seller who may have an emotional attachment, vice "a builder"
-- You're dealing with an individual, vice a business. This could be a "negative" in negotiations.

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January 11
Profile picture for Olga911
If you are looking for a desirable school district, short commute, quality construction, decent size lot, upgrades, established neighborhood, access to shopping/dinning/medical/entertainment/amenities, mature landscaping than it's going to be very expensive to buy new. If you are only looking for a new house then it's a different matter. You can fix, renovate, remodel the house and adjust to long drive but but you can never change location and schools. Real Estate is all about location. If everything is similar including price then of course you should buy new but that's almost impossible.
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January 11
Profile picture for gator70
New homes are energy efficient. Older homes have better quality materials used with some construction elements. 
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January 07
When it come to new VS used its a matter of personal preference. The good benefits of a new home is it comes with a warranty for major defects vs one where the current owner may not be honest and disclosed that something is deteriorating to the point that it needs replacement. Question in point my sister sold her 3 bedroom townhouse in excellent condition and brought a great home in the suburb  and the morning before Christmas the Furnace went out after she was in the home for only 11 days. Replacement cost of the new furnace was a whopping $23,000.00 luck for her she had a big brother who had recommended that she purchase a home warranty even if the seller did not provide one. 
If you were to look a used home or a new home  have a good inspector who has been doing this for a number of years go thru the inspection with a fine tooth comb. And do not approach the builder without the help of a knowledgeable Realtor to negotiate the sale for you. Good Luck
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January 07
Everyone is different.
Personally I like the deals on preowned homes.
I probably will never build new.
But some people like that new car smell.
Some people like the new home warranty.
Some people will never buy a used car, others will never buy new.
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January 07
"Better" means different things to different people. If you are looking for "great deal" on a home, you will more than likely need to look at an older home. Brand new homes will generally be priced at the market. If you want a home with little to no maintenance right off the bat, you should look for a new home.
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January 07
There are pros and cons to both. You need to decide how important they are to you.

Differences are things like:

one has window treatments
one has landscaping
one will have many of the "bugs" worked out
one is in an established community

and so on.

tim
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January 07
 
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