Home Buying 2014: New Home versus an Existing Home

Home Buying 2014: New Home versus an Existing Home

A recent study  by Harris Poll revealed that, for the same price, forty one percent of Americans would prefer to buy a newly built home instead of an existing home.

Twenty one percent prefer an existing home while thirty eight percent didn’t have a preference.

However, those desiring a new home may not be prepared to ante-up the difference in price.

Only forty six percent of those who strongly prefer a new home are willing to pay at least 20 percent extra* to purchase a new home versus a comparable existing home.

*Trulia estimates “that new homes built in 2013 or 2014 are typically priced 20 percent higher than older homes of a similar size and location.”

 

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Jim Starwalt

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Jim Starwalt, Real Estate Broker
RE/MAX Center
Phone: 847-548-2625
Jim@StarHomeTeam.com

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Home Buying 2014: New Home versus an Existing Home