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To Buy New or to Buy Pre-Loved?

Buying a home can be an overwhelming process, and it can be difficult to know who to turn to for advice. Once you indicate your initial interest, whether online or in-person, this can feel like you’ve fed breadcrumbs to a flock of pigeons. You will find yourself feeling more popular than ever, with your phone ringing off the hook at all hours of the day.
It is more than likely that a large percentage of these will come from either licensed real estate agents or unlicensed new home representatives.

Caveat Emptor 

They will collectively present you with a major decision; to invest in a pre-loved property or purchase custom-build in a new home community. While it can feel exciting to explore your options, too many options can become overwhelming, especially when persons of professional authority are providing you conflicting ideas. This can easily lead to reckless decision-making and financial forfeiture.

By researching and regarding your Real Estate purchase as a long-term investment, doors may open for the property to act not only as a home but also as a lucrative and even profitable experience beyond your tenure.

The table below outlines the pros and cons of purchasing new vs. existing property:

However compelling the process may seem, custom-building a home may restrict any potential financial reward provided by the current real estate market. It is important to view your financial and preferential context as it relates to the market in which you are purchasing. Using your unique preferences and financial circumstances outlined by a loan officer, your REALTOR® can help connect you to properties with the highest potential return.

For more in-depth information about purchasing property in South Texas, The Lugo Group is here to help.

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