When most home buyers purchase a home, they will purchase one that already exists. This is often because of the lower cost of purchasing an existing home. However, there are several reasons why purchasing an already existing home can backfire.
When you purchase an existing home, you could choose to customize it by renovating. For example, you could knock out a wall or convert an existing attic space into a bedroom. However, you'll always have to work around what the other homeowner constructed. When you build a new home, you'll be able to customize your home exactly how you'd like it.
Another problem you might face with older homes is that they might have a more choppy floor plan. In contrast, new homes may be more likely to have an open floor plan. The open floor plan provides you with more flexibility with what you do with your home.
In the long run, a newer home might save you money. Newer homes are built in such a way that makes them more energy-efficient. New homes are built with better insulation and are also built in a manner that minimizes the carbon footprint. The more insulation your home has, the more you will save on heating and cooling.
Usually Smells Better
When you walk into a new home, you might notice that there is a horrible odor in the home. It's hard to pinpoint what the cause of the odor might be. It could be the result of garbage not being properly disposed of or it might be the result of smoke or pets. Fortunately, you can avoid these types of odors if you build your own home. Many home buyers are scared away from noxious odors in an existing home.
There are some health hazards that you might find in an existing home. Your pipes might contain lead. Your home might contain asbestos that will need to be contained. The soil might contain radon. The existing home might have a mold problem. These problems are much less likely to exist when you construct a new home.
Easier to Sell
It's much easier to recoup the cost of your home when you're selling a home that you've constructed vs. when you are selling an older home. However, if you're concerned with recouping the value of your home, you'll also want to follow the current home building trends.