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Do You Prefer the Charm of an Existing Home?

Do You Prefer the Charm of an Existing Home?

Do You Prefer the Charm of an Existing Home? | MyKCM

When homebuyers begin their research, they want to see all their available options! In many cases, they will include both new construction and existing homes in their search; but is a new construction home really the house of their dreams?

According to a recent survey by Zillow, of the 38% of total buyers that added new construction to their list, only 11% ultimately purchased a newly constructed home!

They added that 71% of these buyers are repeat buyers who are financially secure, with 45% using the money from the sale of their previous homes to make a purchase.

Below are some reasons why buyers are interested in purchasing a new build:

  • Everything in the house is new/never used (49%)
  • To be close to family (41%)
  • The home is the best value for their money (37%)
  • Appealing home features (34%)
  • Desirable location (34%)

So, then why did most of the buyers surveyed choose not to purchase a new home?

1) Location

Buyers could not find new construction in the desired neighborhood, and some felt that new construction is not established (e.g., landscaping, community, neighbors).

2) Timing

Buyers face the end of a lease or sale of their previous property and could not wait for a house to be built.

3) Price

Some buyers felt that new construction base prices were deceiving. Adding upgrades and HOA fees no longer made the home fit in their price range.

4) Appeal

For some buyers, new construction homes are too “cookie cutter,” and models are limited. Others feel that the charm and uniqueness of an existing house trumps one that’s never been lived in.

Bottom Line

Not all buyers are looking for a newly built house! There are many buyers looking for “the charm and uniqueness” of an existing home. If you are considering selling your house, don’t wait! Let’s get together to come up with a plan to feature the charming details of your house to future buyers.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Christa Ross and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Christa Ross and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Planning to buy? Get your search of homes for sale in Pittsburgh started here.

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By |2019-01-22T11:28:16+00:00February 26th, 2019|Blog Post - Buying|0 Comments

About the Author:

Christa Ross is a REALTOR with RE/MAX Select Realty. Based in the East End office in Pittsburgh’s East Liberty neighborhood, she works in the city of Pittsburgh and the Eastern and Northern Suburbs. As a Certified Residential Specialist (CRS) with 10 years of experience, she is among the top 3% of real estate agents in the country and a RE/MAX Hall of Fame Member. Whether you are all about a trendy condo in the city, a grand old home on the Northside, a recent renovation in Lawrenceville or a sweet suburban address, if you are buying or selling a home, or relocating to the Pittsburgh area, she is the real estate agent you should be working with. Real Estate Experience That Moves You. Get in touch by calling 724-933-6300x214 or direct at 724-779-1437.