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Morris Digital Works Wire Service
With their belongings neatly stashed in cardboard boxes, the Smiths
entered the market for a new home.
The scenarios played out before them. Unsure whether to choose a new home
or existing home, they sought out the help of a realtor and a home builder.
Each tossed their own pitch onto the table ã both pushing the advantages
of either a newly constructed home or a house that already exists. Who's
right?
They both are. The Smiths don't exist, but the dilemma is real.
New homes generally come with steeper price tags, but offer more
amenities. Homes are becoming increasingly wired for technology, including
multiple phone lines and more advanced electrical wiring.
A home can be built to suit the wants of the buyer. Jerry Wittman,
executive director of the Topeka Home Builders Association, said better
lumber, more energy-efficient appliances and improved insulation can be
advantages for new home buyers.
New homes also require less maintenance.
"You're not going to have any severe maintenance for a longer period of
time," Wittman said.
Some question marks associated with a new home purchase can be cleared
with an existing home.
For a home buyer putting costs over conveniences, purchasing an older home
is an option. Existing homes often relieve the buyer of purchasing
appliances, such as refrigerators and microwaves, which often are left
behind by the previous owner.
Wittman said landscaping and established yards are another plus for an
existing home. In an established neighborhood, home buyers can meet their
would-be neighbors. The character of an existing neighborhood often differs
from that of a new development area.
Inquiring into schools, police presence and other aspects of living in a
neighborhood also are possible in an established neighborhood.
"You might go into a subdivision and be the 10th house out of 100 and your
not sure what's going to happen," Wittman said.
Existing homes often come with lower price tags because the buyer is
paying past prices for labor and building materials. More negotiation in
price also accompanies an older home.
Wittman said younger home buyers often purchase existing homes. He said
buyers should expect to shell out a minimum of $110,000 for a new home in
the Topeka area.
"Being the first one to own something is nice, as opposed to knowing that
someone has already lived in this," Wittman said.
Wittman said home buyers should take personal preferences into account and
examine the perks associated with both options. He said low interest rates
and appreciating home values should have little effect on whether a home
buyer chooses a new or existing home.
All real estate advertised herein is subject to the Federal Fair Housing Act, which makes it illegal to advertise "any preference, limitation or discrimination because of race, color, religion, sex, handicap, familial status, national origin, or intention to make any such preference, limitation or discrimination." We will not knowingly accept any advertising for real estate which is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.
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