New Home vs. Existing: Why New Is Likely a Better Value than Foreclosure

Building a new home is a phenomenal choice for your new home and provides an end product that is always worth the effort. A home you design and build from scratch will be tailored to suit your needs and desires. It allows you the freedom to customize it in any way you like, add all the latest appliances and features, and decide where each room will be located, and how it will be laid out. Building gives you complete power over the design of the home, and with the help of a good contractor, your imagination and budget are your only limits. In comparison, existing homes are not always what they seem. Many times, you will find they need repairs and renovations, appliance and feature upgrades, and other expenses. These expenses can end up costing thousands of dollars which you had not originally planned on. Also, customization in pre-existing homes can be greatly limited to the original homeowner’s vision, not your own.

Start Life in a New Neighborhood

Often, the primary and arguable advantage of existing homes, is that they are built in established neighborhoods and communities. However, this can be a moot point. New neighborhoods and lots tend to be located near excellent shopping centers, quality schools, and all the conveniences you would expect to find in an older, more established are. New communities also tend to have modern amenities that aren’t readily available in older neighborhoods.

The Advantages a Modern Home

A new home is built with the latest materials that are designed to be efficient, durable, and require very little maintenance. You can have the latest in energy saving appliances, saving you thousands in reduced utility bills and also help in protecting the environment. Unless a pre-existing home has already had major upgrades, they were not built to be energy efficient or environment-friendly, and still are not. Furthermore, performing the necessary upgrades can be extremely costly. This is a major advantage of a newly built modern home.

Beware of Foreclosures

Foreclosed homes may seem attractive from a financial standpoint, but they rarely come without many costly problems. For example; is there a mold issue in the home? Are there any important code changes that have been implemented since the property was foreclosed that may affect your safety? Is there any significant but not visibly obvious damage on the property that requires repair? These are just a few of the many things you’ll need to consider before purchasing a foreclosed home. A newly built home will not have any of these problems, and it will have better long-term value than a foreclosed one.

Buying a foreclosed lot is a better idea with good value for money. Land does not wear out nor does it require many repairs like an old home. If you are wary of foreclosed lots or don’t want to spend time and effort to look for a good one in a decent neighborhood, hire us to help, you find the ideal one. We have purchased a selection of excellent lots in the Twin Cities area, and we can help you find the right one for your new home.

Progressive Builders Is Here For You!

Whatever your plans include, Progressive Builders is passionate about partnering with you every step of the home building process. Our mission is to ensure that your home plan will accommodate your lifestyle and meet the unique needs of your family. We will also assist you in finding the right floor plan and constructing your home with a focus on quality, all at an outstanding value. With over 20 years of experience, we’ve built a reputation across the Twin Cities metro area and beyond, and we are committed to continuing that level of excellence for your new home construction project. We have a number of customizable home plans to suit your needs and several lots available in neighborhoods across the Metro. We invite you to contact us today for more information.