I'm looking at new homes and townhomes in Winfield, that seems to have many older homes on larger lots.

Jeannie
Home Buyer
Downers Grove, IL

What are the positives and negatives to buying newer construction (higher cost) in an older existing home location (lower cost)? Should I be concerned with lack of appreciation for the short or long term? Any other issues related to being the new house on the block?

Answers (1)
Charlotte Patte...
Agent
Wichita, KS
FIRST ANSWER

Jeannie, great question. Purchasing new construction as opossed to an existing built home poses several possible differences including: New homes may not include blinds, window treatments, sprinkler system, well, lawn, landscaping, fencing, and special assesments etc. Typically, you should plan on being in your new home for at least 3 years before being able to sell to break even or make a small profit. Every situation and home is different. Your best bet would be to have an experienced professional Realtor working with you. Best wishes....feel free to contact me if I can be of further assistance.

Fri Jul 11 2008, 06:39

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