• Why Do Younger Buyers Prefer To Buy New Construction Homes, Rather Than Historic? Read All About It Here

    p_101931609_wCROPIt’s a fact that buyers want homes that are already completed, without any work that needs to be done. Nobody wants to have to do repairs before they even move in, or deal with renovations while they are living in the house. Read: Should You Buy a New Home or an Old Home? Because of this, buyers also want homes that have appliances that are still under warranty.

    Basically…buyers want to be sure that a house is move-in-ready, and is in such a condition that it is unlikely to need any repairs or major work done to it within the first few years. Below are some popular reasons that home buyers want homes that are move-in ready.

    The first reason is that they’ll be able to choose all their own stuff! From the cabinets, to what type of counters, to the flooring material, and lighting choices. They get to do what they’ve alwaold_house_IIys dreamed of. And, who wouldn’t want that? In homes that are older, buyers don’t really have this luxury. See: Should You Buy a new Construction House?

    And they don’t want to spend the money to remodel, and knock out walls, and change plumbing system locations. With new homes, they don’t have to worry about any of this. See: Buying a Home: New vs. Old.

    They don’t have to spend money re-painting, changing the floors, or adding electrical outlets. Newer homes come with electrical outlets already installed in the latest and most popular places; such as on the wall for the TVs, underneath the kitchen counters for appliances, rather than on the walls, etc. 

    Another obvious reason, is that newer homes are energy efficient. Since they are new, they are often installed with the latest systems, which include double paned windows. Older homes often have single paned windows, meaning air is able to get in and out of the house faster; basically, the home just doesn’t insulate as well.

    It’s also a lot cheaper to fix anything that goes wrong in a new house, rather than an old one. Plus, new homes are usually built in urban areas. So, buyers love to be near their favorite coffee shops, exercise buildings, work, restaurants, and nightlife. Older homes typically are in more secluded areas, and don’t offer these social benefits.

    Basically…can you blame buyers for wanting to purchase new over old? There are so many reasons to purchase a new house, that older homes are generally reserved for the older crowd who have the time and money to restore them.

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    2 thoughts on “Why Do Younger Buyers Prefer To Buy New Construction Homes, Rather Than Historic? Read All About It Here

    • David says:

      I found an older home that I really like. I make a very decent living, so I feel like I would be able to afford a fixer-upper. It is an 18c house. Is this wise?

    • Michael Murphy says:

      Hi David! If you have the money to fix up a historic money, then you absolutely should. Be sure to get a good appraiser. Architectural homes are such a joy restore. If you have the funds and the ambition and time to fix it up, you should go for it!

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