Is it better to build a new house or to buy an existing one?

Answer 1

I have been in real estate for 29 years in north Texas. Some people see no value in a new home, some see no value in an existing home. Whatever my buyer wants is what I find for them.

I have owned new homes and owned existing homes and my choice is an existing home.

I recently bought a home built in 1969 and it has some shortcoming, I will admit...but the huge trees, the custom features no longer found in my price range, the beautiful neighborhood, parks and schools all mean a lot to me.

To me a new neighborhood is block after block of the same house. tiny trees brought in by landscapers. Several homeowners seem to have no money to add to the minimal builder shrubbery. The city will not keep up with the demand for schools and parks for decades.

But to the people that like them they see that they get to pick out the light fixtures, carpet, counter tops, and appliances. Everything is new and under warranty and the builder sometimes offers special financing.

Take your pick. To me after you live in them for 15 years they are both existing homes, so if you don't add the landscape and other features you will come up short on resale on you old "new" home.

Answer 2

Well if your looking to make some money, have a stronger home, buy some land where you want to build and get a modular home built. It will take 5-8 months for you to pick out all your details but when your done it will take 8 days to assemble and your home needs to be apprasied asap. Usually its almost twice what you paid for it. If not then listen closely. Pick a bank, usually the one you use. Buy ONE stock. Now your a stockholder. Go to godaddy.com and get a url and email address. Your name Jack Doe get www.misterreo.com and your email would be [e-mail] Go to vistaprint.com and get free business cards and they should say your name and under it for a title should be REO Liquidator. You should buy a home with a company. Some banks wont let you close with a company but you can always sell it to the corporation for $1 afterwards (tax write off). Go to corporate.com and start a company. Name shoud be using my example Mister REO Inc. Now your a ceo of a reo liquidating company (REO Real Estate Owned) and your offical with a email address matching your company name. Oh I forgot. GO to onebox.com and for $17 a month you can have a toll free number, fax and voicemail. (email too if you need it, thats included) So on your business card your official. Email, fax, toll free number, company ceo. Call the bank ahead of time and ask who do you speak to, to purchase REO's from the bank. Let them know your a stockholder. Find the name and when they are off, work, and usually have lunch. take them out to lunch for $20 and more then likely they know you. Its your bank. Tell them your a reo liquidator and your looking for deals. You can buy homes for .60 cents on the dollar or less. Built in equity. In case they ask, but its not needed but to insure them your serious you should have your current credit report (680 or above is best for best rate) make sure nothing on there is 30, 60, or 90 days late in the last 12 months. Also have tradelines like 2-3 credit cards. Just make sure you dont owe MORE then 50% of the credit limit. (High Debt Ratio) Maybe have some assets ($5K, 10K, 20K) always better if they know if something happen you could pay a few months ahead of time or be good for a few months. There ya go, buying homes like your in a 99 cents store served to you on a platter. Will take some time for your confidence to grow but soon it will turn into a business. Buy a home for $60K, and sell it for $85K and its worth $100K. Quick money. Get your credit up, get 3-5 credit cards with $500 credit limit each. Go to a bank Monday morning and get a cash advance on all of them, say $200 each. Five cards will get you $1000. Tell them to put the cash in your account, walk out and mail off 5 checks with $200 on it lol. By next Monday the money will be there again. Do this every onday for 1 year and you would have charged $48,000 and your credit will be great!! Adds about 100-200pts easy.. Good luck, I hope I helped you. Also join that Direct Buy membership cost is $4000 but you save that on your first two purchases. Keep that in mind too for later when you buy your first house. Try westchestermodular.com for modular homes examples. Find a similar company in your area and take the tour, you will love it!!!

Answer 3

Build a new house. Try to get in a new neighborhood early. every time someone buys another house in that neighborhood the builder is likely to raise the price. by the time your house is built it can gain alot of equity before you even take possesion.

Answer 4

well i would go for a new home because the old house cost the same and newer, I dont in your area, but in my area is like that.