Deciding between buying and building a home is a major financial and lifestyle choice. Each option has its benefits and challenges, and understanding them can help you make the best decision for your needs. Pros of Buying a House One of the biggest advantages of buying a house is convenience. Once you close the deal, you can move in immediately—no waiting for construction to finish. Established neighborhoods also offer access to schools, parks, shopping centers, and essential services, … [Read more...]
New Home Prices Going Down Making Them More Affordable
Residential real estate developers in America are responding to a national slowdown in new home construction by building smaller homes that are more modestly priced. The demand for smaller, less expensive homes is growing, while the overall demand for new custom homes is declining. Prices decreased slightly, by about one-half percent, from the price levels in 2018 for newly-constructed homes. Lower Profits For Builders The median price for a newly-constructed home in America is $372,900. The … [Read more...]
Pros And Cons: Older Homes Versus New Construction
Opinions differ about whether home buyers are best served by purchasing an older home or new construction. New homes enjoy that "new home" smell and the idea that you are the very first occupant can be very appealing. On the other hand, older homes resonate with nostalgia and many architectural design elements are no longer commonly used. While some people feel strongly one way or the other, it's a lot like comparing apples and oranges. The right home for any home buyer is the one that fits … [Read more...]
New Home Construction Boom Expected
The housing market has been trending in a positive direction and economic indicators point to new home construction going vertical. Following the housing bubble and sluggish post-recession economy, construction companies largely turned their attention away from new homes. Diminished values, high regulatory and materials costs served as deterrents to home-building. But the economic revival the country is experiencing - coupled with a housing shortage - has builders poised to jump back into the … [Read more...]
