This Old House vs. New Construction Part II: The Potential Risks

If you are considering a home purchase, you may be wondering whether an existing home or new construction is the better choice. This article is part two of a series: This Old House vs. New Construction. Let’s take a look at the potential risks of both options.

homebuying-couple

The potential Cons to consider with New Construction include:
• Cookie-cutter design – often less character than an older home
• Higher price (upscale amenities, current construction costs)
• Limited negotiating room on price
• Generally smaller yard
• Risk of shoddy construction
• Frequently have a homeowners association (can put limits on how you use your property)

The potential Cons to consider with Resale Homes include:
• More maintenance: Things break or wear out
• Less energy-efficient, thus more costly to operate
• Dated design, older appliances and amenities
• Generally smaller bedrooms, bathrooms, and windows
• It’s been lived in

In the next segment we’ll discuss how to mitigate the risks of both New Construction and Resale Homes.

Call me or drop a line. I’m happy to help you navigate the waters whether you are thinking of buying, selling, investing or just have questions about the market.

Jack Meyers

The Meyers Group
jackestate@aol.com 
303.263.3050
Twitter: @jackestate

Advertisements

What are your thoughts?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s