Follow Neal Twitter Facebook
Email Neal Email
Residential Real Estate
Jun 15, 2017

New Construction Or Existing Home?

Sponsored Content provided by Neal Johnson - Licensed Real Estate Broker , Network Real Estate

When looking for a home, most people have the choice between an existing, already-built home and new construction. There are a lot of reasons to buy a new home, but there also are some things you need to consider.


Customization

If you are building your home from scratch rather than buying a "spec" or model home, you will have the ability to customize the home to your liking. If you want to be able to design everything in the home, you will need to work with a custom builder. Some of the things you will need to decide are: how big the home will be; how many bedrooms and baths it will have; and where rooms will go. Keep in mind that going the custom route will increase the cost.


Neighborhood

Building a new home can allow you to be a little bit pickier about where you live. Wherever you can find a buildable lot for sale, you can build your home. With whatever area you choose - whether it’s a new subdivision or an infill lot inside the city - you want to make sure you do your research about schools and other vital information. And you want to make sure you understand all local codes and zoning restrictions to be sure you can build the size and type of home you want.


Timing

When building a new home, you have to time your move properly. Remember that whatever building time frame you are given is an estimate and can be affected by weather, the ability of subcontractors and a variety of other factors, so you need to have some flexibility built into your moving plans. If you own another home, you will have to decide whether you want to sell it and live somewhere temporarily while your home is being finished or wait to sell it until after your home is complete.


Ongoing costs

Though building a new home should cut down on your initial maintenance costs - because everything is new and unlikely to break down or fail - there still are ongoing costs of owning a home that apply whether it's new or not. These include things like lawn and landscape care and HVAC maintenance. The good news with a new home is that it should be many years before you have to worry about things such as replacing appliances or fixing your roof.

There are many things to consider when deciding on whether to buy a new home or an existing one. However, the advantages of a new home usually outweigh any drawbacks for most buyers.
 
Neal Johnson is a CMCA, CRB, CNE and GRI-certified, licensed real estate broker at Network Real Estate, which has exclusively served a high volume of property sales and purchases in the greater Wilmington area for more than 30 years. With three offices at College Road, historic downtown Wilmington and Pleasure Island, Network’s brokers are widespread and well-versed in this marketplace, making Network a preferred real estate company for first-time homebuyers and beyond.

 

Other Posts from Neal Johnson

20489 networkrealestate insightsad final 121814105759
Ico insights

INSIGHTS

SPONSORS' CONTENT
Carolinemontgomery4

Don't Procrastinate - How Waiting To File Your Taxes Can Hurt You

Caroline Montgomery - Adam Shay CPA, PLLC
Dallas headshot 300x300

The 7 Cs Of Planning Success

Dallas Romanowski - Cornerstone Business Advisors
Lynnwhitecell hwconsulting headshot

The Busyness Mindset - Too Busy To Lead?!

Lynn Whitesell - Harris Whitesell Consulting

Trending News

Are Real Estate Development Proposals Slowing Down? Not Exactly

Cece Nunn - Feb 14, 2020

Wilmington Clinical Research Firm Partners To Expand Trials

Christina Haley O'Neal - Feb 14, 2020

In The Current Issue

NHRMC Issue Draws Outside Attention

While very much a local issue, what to do with New Hanover Regional Medical Center is gaining attention from the state level....


Drawing On Leadership Skills

LS3P’s Laura Miller has had a hand in many projects over the course of her nearly 20- year career as an architect. But her passion for the i...


Apple Trip Highlights Education, Tech

While very much a local issue, what to do with New Hanover Regional Medical Center is gaining attention from the state level....

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WILMA Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`