First Home, First Loan

Helping to make home ownership a pleasant reality
Find A Mortgage Now!
Find A Realtor Now!

Free Newsletter

The Real Estate Report

newsletter

Get Your Free Copy:

Email

Deciding Between New Construction or an Existing Home

posted by Stephen Katz @ 11:23 AM
Tuesday, April 30, 2013

 

Factors to consider are costs, conveniences, extras, neighborhood and resale value when deciding on a new or existing home. Here are some pros and cons.

Existing Home Pros – You may get a higher quality workmanship for your money with a home that was built when labor and materials were not as costly. Appliances and window treatments are usually included. Updated kitchens and bathrooms may feature unusual and valuable extras. It can have mature trees and landscaping. It can often have unique architectural elements. Usually located in established neighborhoods. The relationship between the price of homes for sale and overall care and attitude of the neighborhood in general.

Existing Home Cons – Usually cost more to heat and cool. The past renovations may not be up to current building codes. Building materials may be harder to match or replace. May need to be updated or repaired.

Newly Constructed Home Pros – Less to maintain than an older home. You may be able to upgrade and customized certain aspects of the home. Up-to-date safety codes. Efficient use of space. Modern amenities. The home should have a more energy efficient design, as well as materials. Up to date wiring for today’s technology and security. You may have more input in flooring and finish selections. They should have more recreational facilities. Construction and appliance warranties often still apply.

Newly Constructed Home Cons – Construction delays are a possibility. New homes cost more than existing homes. Resale may be difficult until construction is completed in the entire subdivision. Trucks, dirt, mud, and noise may be a problem. You may be charged higher taxes. Landscaping could be costly. Unwanted developments may continue to be built. New homes are often more out of the way from town and can mean a longer commute. Additional costs such as possible mandatory fees for associations and other assessments.

Stephen Katz

(770) 309-0939 (direct) or (866) 742-8400 —

For the past 18 years, Stephen Katz has built a successful business almost entirely on referrals. As your mortgage consultant throughout the home loan process, Stephen will explain the pros and cons of all available mortgage programs and help you choose the financing option that is best suited to your needs.
Throughout the loan process, he will keep you informed and will respond quickly to your requests with answers and solutions.

Consistently a top producer, Stephen is a Mortgage Bankers Association “Diamond” Award winner, a Georgia Mortgage “Top Gun” and has closed almost half a billion dollars in loans. Put his knowledge and experience to work for you!

More Posts - Website

Comments are closed.

First Home, First Loan is proudly powered by WordPress