Last week, I shared the pros & cons of buying new homes, and while that argument has its own downfalls and merits, what about buying home used? A far more common option, but have you stopped to truly consider the benefits & consequences of buying a used home, especially in South Florida – home to quite a collection of used homes. Here are a few to consider for yourself.

Pros:

  • On average, cheaper than buying newly built homes – In comparison to buying a new home, used homes for considerably cheaper, across the spectrum. If money is your main concern, you should consider leaning your choices down to used and used only.
  • More character, larger history – Used homes often come with their own history surrounding the décor, architecture, as well as the neighborhood. So not only will you be getting a home, you’ll be getting access to a new way of life you maybe haven’t experienced before.
  • Recognized neighborhood – You don’t have to wonder about the neighborhood with used homes since there are dozens of previous residents who can not only leave reviews on the home but realtors & other professionals, who know the area personally and can tell you whether it’s a fit. There’s no room for the unknown here.

Cons:

  • Harder to find within your constraints – Since used homes are more commonly sought after, the chances of you finding the exact home you want, within your budget, neighborhood, and so forth, are much smaller compared to new homes. You might have to compromise due to this market.
  • More Competition – Everyone needs a home, and the chances are, everyone wants to find the best neighborhood, deal, and amenities, much like you are, so you might have to fight for the used home you have your eye on.
  • Fewer Amenities & More Problems – Older homes are often less equipped with modern technology, which can lead to problems down the line. Not to mention, if you want to equip more modern amenities, you might run into a world of problems when it comes to modelling an older home to newer technology or installation.

In conclusion, there’s still no correct answer. Used & New Homes both have their plusses and downsides, but regardless of the decision you make, Choice Mortgage Bank, Inc. can help YOU find the best deal regardless of the circumstances. If you’re ready for change and to find that perfect house on the hills, call in today, and we can get you started!

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