New Versus Charm

Dated: January 28 2019

Views: 57

Do You Prefer the Charm of an Existing Home?

Do You Prefer the Charm of an Existing Home? | MyKCM
When homebuyers begin their research, they want to see all their available options! In many cases, they will include both new construction and existing homes in their search; but is a new construction home really the house of their dreams? What will charm them into buying? According to a recent survey by Zillow, of the 38% of total buyers that added new construction to their list, only 11% ultimately purchased a newly constructed home! They added that 71% of these buyers are repeat buyers who are financially secure, with 45% using the money from the sale of their previous homes to make a purchase. Below are some reasons why buyers are interested in purchasing a new build:
  • Everything in the house is new/never used (49%)
  • To be close to family (41%)
  • The home is the best value for their money (37%)
  • Appealing home features (34%)
  • Desirable location (34%)

So, then why did most of the buyers surveyed choose not to purchase a new home?

1) Location Buyers could not find new construction in the desired neighborhood, and some felt that new construction is not established (e.g., landscaping, community, neighbors). 2) Timing Buyers face the end of a lease or sale of their previous property and could not wait for a house to be built. 3) Price Some buyers felt that new construction base prices were deceiving. Adding upgrades and HOA fees no longer made the home fit in their price range. 4) Appeal For some buyers, new construction homes are too “cookie cutter,” and models are limited. Others feel that the charm and uniqueness of an existing house trumps one that’s never been lived in.

Bottom Line

Not all buyers are looking for a newly built house! There are many buyers looking for “the charm and uniqueness” of an existing home. If you are considering selling your house, don’t wait! Let’s get together to come up with a plan to feature the charming details of your house to future buyers. We would love to prepare a Free home value report for you to give you the tools you need in making real estate decisions. Click the link below to get started!

Home Value Report!

 
  Licensed Broker in The State of Oregon Silverton Office 503-874-4666 Woodburn Branch Office 503-446-5411  
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Lisa Santana

Lisa Santana, Your Real Estate Expert and GuideHi, I’m Lisa Santana—Managing Principal Broker and Owner of BST Realty, LLC. I’ve been serving clients across Silverton and the Willame....

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