New and previously owned homes both have benefits

Though homebuyers may have a difficult time deciding whether to move into a brand new or existing home, both have their pros and cons, according to Green Valley and Sun News.

One particularly influential trend on the home building industry is the fact that new home prices have to compete with foreclosures. However, the new home industry has been able to remain competitive.

"We can offer a green, super energy-efficient, healthy home with a 10-year warranty for the same price as a foreclosed home, so that's why we still sell," he said. "You never know what you're going to get with a foreclosed home."

New homes, which were traditionally more expensive than existing homes, are now listed in a similar price range due to the state of the economy, according to the source. In addition to being more affordable than usual, new homes may have fresh appliances and the latest energy-efficient measures. Also, those moving into a new home have more free range when choosing their preferences, both in the home's features and the location.

As for existing homes, moving in faster and being able to know what the home will look like on move-in day are potential advantages, the source says. Also, there are a number of available choices, some with more charm than newer buildings can offer.
 

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