these guys are hurting right now and as Ian pointed our,there are some real deals out there both in new construction and with houses that are 100% renovated so they are better than new.
If you decide to go with an already built home, I thought you might like to consider checking this site out.
The Banks maintain databases of the properties for sale (REO) and who they list them with. These databases contain description of property, sometimes photos, asking price, address, and listing agent contact info.
Many banks make these databases Free for the public to use....Like these
The site will also give you the links to Gov. properties for sale
It gives a person a chance to view at home properties and asking prices henever they feel like it and it's free.
As for the question you asked, IMHO shop and compare prices for doing both. Decide if you are really going to get that much more of a home having it built vs existing for the money you spend.
I wish you the best of luck with your decision and new home, Dunes
There are so many homes that have been 100% renovated, or going for 30% off it makes way more sense to get one of these.
Email me some details on what and where you are considering.
...but first go to my website and look at the options / costs to build in our area.
My clients over the years have found the experience rewarding and profitable. This is an option to consider.
KB Homes are currently building new, gorgeous, architecturally appropriate homes that are termite proof, on the highest elevation in the city, with hurricane trussed roofs and planned green spaces, in the Lower Garden District, in the vicinity of the new Walmart next to the river. These homes are stunning and if you can qualify, go for it. Another alternative would be a newly renovated condo.
This is an EXCELLENT question..........
At the current time, it is our personal opinion, that the best opportunities for buyers exists in the area of resales. Homes are being sold daily that represent enormous savings that could not be duplicated by today's builders.
Many of these opportunities ARE brand new, never lived in homes. Some of these homes are $200-$300 thousand dollar homes that are being sold at or below the $100,000 range.
Our recommendation is to remain conservative and explore the options that exist in the resale market before deciding to build.