Is It Better To Buy New Or Used Housing?

 

Buying new or used housing is one of the best investments that can be made. The detail is deciding and reviewing goals, expectations, and needs; in addition to deciding through which modality to do it... Whether with a housing loan, leasing, with or without a subsidy.

On this occasion, in McComb realtors, we are going to present the reasons for investing in housing, what we must take into account, whether in new or used housing, and the benefits offered by each segment. Let's see!



Reasons to invest in housing

Housing is the most important investment that households make, and it is the best way to guarantee financial stability.


The appreciation of housing and its factor of becoming a very striking asset in times of crisis, for example, make it one of the best investments that can be made in life.


Buying a home is a very profitable investment that is always appreciated. It is the construction and the basis of your heritage, of a family. Also, after buying the first one, you usually have the desire to buy another one. And there we must go to review what will be better, a new or used home?


A house serves two purposes: to use it and the possibility of changing it. And this makes it possible for investment in housing to be the only one that guarantees that in the future you can earn higher returns.


So, now let's see what benefits or advantages a new or used home has.


Benefits of buying used housing

Specifically, used housing offers two benefits:


1. There is a lot of offer: in various cities nationwide, and each of the different types of real estate.


2. Price: the market is moving a lot. The purchase of used housing has the advantage of having discounted prices, and opportunities. The one that needs to sell is going to offer attractive prices.


Likewise, some investments are made on time in used housing with the aim of remodeling and offering them again in the real estate market.


Profitability of buying a new home

Investing in a new home generates two different opportunities compared to used housing:


1. The purchase of housing on plans guarantees and allows the initial installment of a new home to be paid in 2 or 3 years, which does not happen with used housing


2. Valuation of the home that was purchased off-plan: when the house or apartment is already delivered, the price is higher, and a profit is achieved for the valuation. In addition, with the purchase of a new home there is the advantage of an appreciation cycle of 10, 15 and even 20 years, much longer than the used home.


What does the decision to buy a new or used home depend on?

It depends on putting each of the benefits on a scale so that expectations can be met. Of course, also review the budget, what economic capacity you have, and if it is an investment in a first or second home.


New home:


  • When buying a new home, it is not necessary to have the full down payment. You can have the facility to pay in installments, taking into account the delivery times of the construction companies.

  • The Government has provided various subsidies and aid for the purchase of new housing. This is one more option to check if it is worth going for a new property.


Used housing:


  • Interest rates, currently, are very profitable for the financing of used housing.

  • The availability of used housing is also wide.

  • The negotiation of the value of the used house is simpler than that of a new house, to reach a more convenient price.


Ultimately, the decision also depends on what stage of life the person is in. That is, if he lives alone, or if the family is growing, where does he want to live (in the suburbs or within the city). Contact a real estate broker near paradise valley to receive the best advice.
Location: United States

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