Evaluating the Home - New vs. Previously owned
A new home has its advantages to be sure. Obviously, the best part is, everythings new—never been used. Thats a serendipity thats hard to beat. If youre involved with the builder before the home is complete, or even before construction begins, you may have considerable input as to features and finishing touches. The builders warranty guarantees freedom from structural flaws and new home building codes assure you of energy efficiency with all electrical/mechanical systems. Here are a few things to be on the lookout for:
- Quality Workmanship—problems usually show up around windows and doors. Look for clean, square lines, well-fitting windows and moldings, no squeaky floors, and doors that open and close smoothly.
- Check for cracks in basement floors and walls. Look for damp spots.
- Make sure insulation and vapor seals are sized and installed as specified.
- Check heating and cooling systems, faucets, plumbing fixtures, and electrical outlets.
- Yard should be graded so water drains away from the foundation. Look for low wet spots.
The trade-off is, youll probably get less home for your money when buying new. You can save on new home construction costs by finishing the basement or landscaping yourself, later on. But then you have to deal with finishing the basement or landscaping yourself, later on. Depending on your personality, that could be a plus or a minus.
Purchasing an existing home
Existing homes come with their own set of advantages
and disadvantages. On the plus side, they are usually less expensive
and financing may be more flexible. You may also be able to avoid a
lot of fixing and finishing. Yards and landscaping as well as the home
itself are typically well established so, unless youre specifically
buying a fixer-upper, you get to move into a home thats complete.
On the other hand, you could be buying someone elses headaches. An
older home is surely going to show some signs of its age, unless its
been recently remodeled, and you may want to do some updating of your
own. You also may have to live with someone elses tastes. Carpet,
wall coverings, etc. may be in great shape, but out of sync with your
sense of style.
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