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Settling the Debate: Should You Buy New Construction or a Pre-Owned Home?

houses in Scottsdale

Scottsdale houses for sale are a wide and varied bunch. It’s no wonder many homebuyers often face a tough decision choosing between an established, older home and a brand new one.

In this guide, we will go through the merits of each option.

Why you should choose an established, pre-owned home?

  • Pre-owned homes are more reasonably priced

    If you are working with a budget, choosing a pre-owned property will be the more cost-effective homebuying strategy. Existing homes sell at a median price of $270,900 based on nationwide numbers as of October 2019. Meanwhile, new homes sold for $316,700.

  • Existing homes allow you to move in right away

    If you purchase a house during the building or pre-construction stage, it may take several months before you can move in. Buying an existing house is more practical if you need to relocate right away.

  • Pre-owned homes belong in established neighborhoods

    You know what to expect from the neighborhood you will move into when you buy a pre-owned house. You can read community profiles and talk to current residents to help inform better homebuying decisions.

  • Pre-owned homes have a more proven property value

    If you are concerned about long-term value, you can invest in pre-owned homes with confidence. Older homes have been on the market longer and thus have more existing data to assess as a basis for value projections.

  • Older homes are typically built on larger lots

    Homes in older, more established residential areas are built on larger lots compared to more recent developments. You can own and use more land at a better value by buying an older property.

Why you should buy new construction?

  • A brand new house will not require significant repairs and upgrades

    When you buy new construction, you will spare yourself from any additional costs of getting anything repaired. You will get everything in perfect working condition. And even if something is not working the way it should, you have a full warranty at your disposal.

  • Pre-built homes give you more freedom to customize the property

    The great thing about buying a house under construction is that you can put in your two cents while it happens. You can add your choice of finishes, fixtures, and appliances as the structure is being built. You will not have to spend extra on tweaks and upgrades after you move in.

  • New construction is designed for the future

    New construction homes are built to last. Not only are the materials and construction methods used based on the latest standards and local building codes, the entire house is also designed for long-term energy efficiency.

  • Newly built properties can come with builder incentives

    Even if your new construction home will fetch a price closer to market value, you can stretch your homebuying dollars further by negotiating for builder incentives. Your builder may be willing to throw in bonus appliances or furniture in lieu of agreeing to price negotiations.

Whether you decide on an older, more established home or new construction, Scottsdale’s real estate market is sure to give you exactly what you want. Find your dream home with Urban Luxe Real Estate. Call us today at 480.359.6519 or send us an email at info(at)urbanluxere(dotted)com.