What are the top reasons to buy a home? Not surprisingly, it depends on what kind of home you want. The Texas Association of Realtors just completed a massive report about home buying in our state. Not surprisingly, the biggest differences came based on whether you want new home construction or a resale.

Top Reasons To Buy A New Home

Avoid renovations or problems with plumbing/electricity

I honestly don’t agree with this one. New homes can have problems, too. When you are looking at new construction, you should make sure you know what kind of warranty the builder is providing you. (This is yet another reason you should use a Realtor as we know what kind of questions to ask). Some builders provide longer warranty terms.

Ability to choose/customize design features

This may or may not be true depending on what new construction you purchase. Many inventory homes have already been 95% completed. There may be a handful of small touches left to be made, but depending on how far the builder is in construction, you may lose your ability to really do your own design. If you have the time, you can build from the ground up. In that case, you can make a lot more decisions. Another option is to buy the builder’s model home. They would have used most of their highest end materials for that model. Depending on how many homes are left in a development, you may get a great deal on the model.

Amenities of new home communities

I would have actually put this at the top of the list. New HOAs in the Houston area come with some pretty cool bells and whistles. It’s no longer just the community pool and small building to throw birthday parties for younger kids. New communities have MANY pools, water slides, splash pads, man made beaches, ponds for fishing, bike trails, gyms, and libraries.

Top Reasons To Buy A Resale (Previously owned)

Better overall value

Maybe, maybe not. The one thing you can rely on when it comes to resale is that an established neighborhood is more likely to have better comparables. When buying new construction in a new development, you don’t have any history of whether that neighborhood will be worth. An established neighborhood will have years of buying and selling.

Better price

Similar to “better overall value,” I think this is a generic reason. It may be a lower price. But “better” is in the eye of the beholder. What you and I think is a “better” price can vary. In today’s market, resale homes aren’t going to upcharge you for the increased price of materials. That CAN happen with new construction. So maybe the best way to describe a top reason to buy a home resale is “you know what you’re getting.”

More charm/character

This probably depends on how old the home is. For instance, if you want the charm of a bungalow in the Heights, you aren’t going to find that style in new construction. You could, however, buy a vacant lot and build a new bungalow on it! Depending on your sense of style, the kind of home you want might have to be older. Popular styles ebb and flow. If we were looking at new homes 15 years ago, there would be a lot more Mediterranean style homes. You wouldn’t find that now. But in another 15 years, who knows?