Thursday, March 28, 2013

Home shopping: Should you buy new?

http://money.cnn.com/2013/03/01/real_estate/home-buying.moneymag/index.html



A newly-constructed home is likely to be priced 10% to 15% higher than an existing one.
(Money Magazine)

It's official: After years of little activity, homebuilders are dusting off their jackhammers.

Last year housing permits hit their highest level since 2008, according to the Census Bureau, and new-home sales grew 20% from the prior year.

"Builders are more optimistic than they have been for several years," says Patrick Newport, an economist at IHS Global Insight.
An untouched abode offers advantages, of course, such as a sleek modern layout and few repairs. Buying an existing home, however, may allow you to seal the deal faster and can offer better short-term price appreciation.
These head-to-head comparisons can help you decide which choice better fits your priorities.
SALES PRICE
Winner: Draw

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