If you’re thinking about making a major move to a new home, is it smarter to buy an existing one or build one from the ground up? This guide explains.
Should You Buy an Existing Home or Build a New One?
Whether you should buy an existing home or build a new one depends on several factors – including your personal preference. The bottom line is that even though the cost of building may be higher upfront, many people find it worth it. However, there are plenty of things to consider when you’re making this big decision. You need to look at:
- homeowners association fees
- property taxes
- market trends
- location
- overall cost
- your list of wants and needs for your next home
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Buying an Existing Home
When you buy an existing home, it’s convenient. You don’t have to pick out any features, make any plans or do anything but get financing and make an offer. Often, you can close on the home and get moved in fairly quickly.
Most existing homes are move-in ready, which means other than a few small repairs, you don’t have to wait for things to get done.
However, buying an existing home also means that you don’t have the customization options you’d have if you were building. You may not get exactly what you want, and you may still need to perform some work on the home to get it up to your standards.
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Building a New Home
Building a new home is an entirely different process than purchasing an existing one. Sure, the upfront costs are generally higher, but you do have the option of choosing all the finishes and features you want.
You have a few options when you’re building a home, too. For example, you may be able to join an existing development or build on your own property as far out from civilization as you’d like.
Many people prefer to buy new homes because they’re better for the environment, two period building codes have improved and so has energy efficiency.
Are You Buying a Home or Land for Sale in Lake City?
If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.
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