When it comes to real estate, it not only important to buy a house, but most importantly a home. A home is where you look forward to going every evening after job. Careful considerations therefore need to be made before the purchase of a house.
You may either decide on buying a new house or settling for a resale house under a previous ownership. Either way, there are several factors to consider like the pros and cons of each side.
The Pros Of Buying A New House
The first advantage of buying a new home is that everything is brand new and squeaky clean. This means that there are no major issues such as repairs, old tiles or even outdated wall colors. The other advantage of a new house is the incorporation of the latest technology in building and design.
A new house is also move-in ready and there is no work that needs to be done or time to be wasted before you move in. a new house also comes with the space for customization of features. If you have plans to obtaining a mortgage, you should definitely go for the new house. Other types of financing also give a higher consideration than a pre-owned house.
The Cons Of Buying A New House
A new house is expensive to purchase. Moreover, the location of the new house may not be the one of your choosing. A new house may also come with loose architectural ends since you may not be able to tell what amount of work was put where. Purchasing a new house also comes with the uncertainty of neighborhood dynamics and you never know what to expect regarding the culture, social and political environments.
The Pros Of Buying A Pre-Owned House
A resale home is cheaper than a new home. I buying a resale home, you will have the luxury of choosing the location and therefore, the neighborhood and surrounding environments. An old house is also important for you if you want to make personalized renovations. Old architectural designs also tend to be stronger and unique than the new designs.
The Cons Of Buying A Pre-Owned Home
The first con is that they are hard to find, unless you find someone moving out with an intention of selling the house. The house may also have major problems that you may fail to notice at the beginning. It is also an uphill task to get financing from a resold house.
Also, in buying a pre-owned house, you may come to a point of choice between the perfect house and the perfect neighborhood. You may end up settling for a smaller house just to get the ideal location.