By Kevin M
With the general fall in house prices in the past few years, new homes have come down substantially and present a real opportunity to purchase a relatively low maintenance home. But the over-supply of existing homes is a real chance to cut the best deal price-wise. Which one do you choose?
Now that home values are no longer on a steady upward path, the choice of home you buy has greater consequences than ever. In the recent past, a purchase mistake could usually be covered by rising prices. All you had to do was wait a few years and the moment would come when you could sell the mistake at a higher price than you paid, and move on to something else.
But buying decisions today look more permanent than they did a few years ago. A home purchased today might stay with us for 10 or 15 years before selling would even begin to make sense. Against that backdrop, do you go with a brand new home or an existing one?
