Where Will You Go After You Sell?

<article class="post-1150054 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-1150054"><span class="entry-date">August 8, 2024</span><div class="entry-header center-block text-center"><h1 class="entry-title">Where Will You Go After You Sell?</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Where+Will+You+Go+After+You+Sell%3F&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fwhere-will-you-go-after-you-sell%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="Where Will You Go After You Sell? Simplifying The Market" decoding="async" loading="lazy" src="https://media.agentaprd.com/sites/222/20240808-Where-Will-You-Go-After-You-Sell-original.webp" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width=""/>
<p>If you’re <a href="https://www.simplifyingthemarket.com/2024/07/31/should-you-rent-out-or-sell-your-house/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: blue;" target="_blank">planning to sell</a> your house and move, you probably know there’s been a shortage of options available. But here’s the good news: the supply of <a href="https://www.simplifyingthemarket.com/2024/05/16/the-number-of-homes-for-sale-is-increasing/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: blue;" target="_blank">homes for sale</a> has grown in a lot of markets this year – and that’s not just existing, or previously-owned, homes. It’s true for newly built homes too.</p>
<p> So how do you decide which route to go? Do you buy an existing home or a brand-new one? The choice is yours – you just need to figure out what’s most important to you.</p>
<h4><strong>Perks of a Newly Built Home</strong></h4>
<p>Here are some benefits of buying a newly built home right now:</p>
<ul>
<li><strong>Have brand new everything</strong> with never-been-used appliances and materials</li>
<li><strong>Use energy efficient options</strong> to save money and leave a smaller footprint</li>
<li><strong>Minimize the need for repairs</strong> and benefit from builder warranties</li>
<li><strong>Take advantage of builder concessions</strong> that can help with affordability</li>
</ul>
<p>In today’s market, a lot of builders are focusing on selling their <a href="https://www.simplifyingthemarket.com/2024/06/13/homebuilders-arent-overbuilding-theyre-catching-up/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: blue;" target="_blank">current inventory</a> before they add more homes to their mix. And some of them are offering concessions and are more willing to negotiate to make a sale happen.</p>
<p> That, coupled with the fact builders are primarily building <a href="https://www.simplifyingthemarket.com/2024/05/03/builders-are-building-smaller-homes-infographic-1/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: blue;" target="_blank">smaller</a>, more affordable homes, has led to one other potential perk. The <a href="https://www.simplifyingthemarket.com/2024/07/24/a-newly-built-home-may-actually-be-more-budget-friendly/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: blue;" target="_blank">median price</a> for a newly built home in today’s market is actually lower than the median price of an existing home – which isn’t usually the case. Ralph McLaughlin, Senior Economist at <em>Realtor.com</em>, shares:</p>
<blockquote><p> <em>“Homebuyers who are looking for that ‘new-home smell’ may be in a relatively friendlier market than times past when new homes were considerably more expensive than used ones.”</em> </p></blockquote>
<p>If you’re interested in seeing what builders nearby have to offer, lean on your <a href="https://www.simplifyingthemarket.com/2024/06/10/selling-smart-why-a-real-estate-agent-makes-all-the-difference/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: blue;" target="_blank">real estate agent</a>. Their knowledge of local builders, new communities, and builder contracts will be important in this process.</p>
<h4><strong>Perks of an Existing Home</strong></h4>
<p>Now, let’s compare that to the benefits of buying an existing home. </p>
<ul>
<li><strong>Join an established neighborhood</strong> that you can get a feel for before moving in</li>
<li><strong>Choose from a wider variety</strong> of floorplans and styles</li>
<li><strong>Appreciate the lived-in charm</strong> that only an older home can provide</li>
<li><strong>Enjoy the privacy and curb appeal</strong> of mature trees and landscaping</li>
</ul>
<p>In addition to these lifestyle benefits, there’s strategic value to buying an existing home, too. Remember, you can always make upgrades to an existing home down the road to give it some of the latest features available. This gives you the best of both worlds: you’ll get the charm, the neighborhood, and over time, you can still add those on-trend elements you may see in a brand-new home. And if you do, you’ll likely increase the home’s value too. An article from <em>LendingTree</em> explains:</p>
<blockquote><p><em>“. . . they can personalize it and possibly increase its potential resale value with cosmetic upgrades . . . Plus, if a home comes with physical details or stories that add charm, in some cases, these elements are attractive enough to add to a home’s resale value . . .”</em></p></blockquote>
<p>Want to see what’s available? Your real estate agent can show you what homes are for sale in your area, so you can see if there’s one that works for you and your needs.</p>
<h3>Bottom Line</h3>
<p>There are a lot of factors that go into deciding whether to buy an existing home or a newly built one after you <a href="https://www.simplifyingthemarket.com/2024/07/30/the-biggest-mistakes-sellers-are-making-right-now/?a=712984-fa409495d5d70154d03a25e81e9540e2" rel="noopener noreferrer" style="color: blue;" target="_blank">sell</a>, but it’s essential in today’s market to understand the opportunities you can find in both. Work with a local housing market professional so you have expert guidance as you explore the options in your area.</p>
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