That question doesn’t just apply to buying a car. Part of the American Dream, for some people at least, is to own a new home. New, as in just built. Certainly there are benefits and disadvantages to either – a new or existing (used) home. Let’s look at a few of them.
Existing homes. Depending on the age and location, it could have been built with better materials, exhibit more true craftsmanship, and perhaps have architectural ‘character’ and features that are all but impossible to replicate today.
Down sides might include a lower energy efficiency level, the possibility of needing extensive updates and difficulty finding similar building materials when you do modifications or repairs. The task of modernizing a very old home to today’s standards while retaining its original charm can require a lot of planning and effort. In most cases it is a labor of love.
New Homes. Certainly a big plus is the ability to make some decisions about options, color schemes and perhaps even features (within certain builder parameters). Hazardous materials like lead-based paint will be moot, and you’ll likely have a robust electrical system for today’s living. Two and three car attached garages and plenty of bathrooms will not be uncommon, either. Many young families like living with similar aged households because both they and their children will develop friendships nearby.
Negatives will include the cost of landscaping, living with construction noise, traffic and debris until the neighborhood is built out, and if you’re an early buyer you will find it difficult to compete against the developer if he’s still selling ‘new builds’ when you decide to move.
There is no global best choice. It will really depend upon your motivations, goals and desires. While this is not a comprehensive listing of the benefits and disadvantages of either type of home, I hope it gives you something to think about. Construction is starting to perk up in the area.
New South Lyon homes are being built with greater frequency, as are homes in the Brighton and Howell areas. If I can assist you with your home search, feel free to contact me!