Realtor’s Guide: New Home Construction vs. Existing Properties

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Inventory of New vs Existing HomesAs a Real Estate Agent, we know you’re always on the lookout to find the perfect match for your buyers’ needs, whether that be scouring the market to find the perfect home in their price range, negotiating with sellers on must-haves, or managing their own expectations in light of market conditions. The bottom line is: you’re busy and you’re always looking out for the best interests of your client.

For that reason, we’ve developed a quick guide (and downloadable eBook) to shed some light on one of the best-kept secrets for NH home buyers: new construction can often be less expensive than purchasing an existing home, and is readily available in the improving New Hampshire economy.

Here are the down and dirty facts – pass these along to your clients, and we’re sure you’ll be closing those deals in no time at all:

                                         New Home Construction        VS.     Buying an Existing Property

 PRICE

It doesn’t have to be expensive! Developers are building beautiful, semi-custom homes starting in the $170’s (condo) or $330’s (single family)

You may find a great deal on the listing sheet, but when you add in the cost of fixing a roof, replacing a kitchen, or adding a bedroom, those prices really start to add up!

 FEATURES & AMENITIES

Client has a wishlist of must-have features? Done! Simply hand it over to the developer, knowing that your client will have their needs met, and your job will be that much easier.

With existing properties, that wishlist is likely to result in days or weeks spent researching and comparing properties. Ultimately, it will likely also mean asking the client to compromise on must-haves.

NEIGHBORHOOD AND SCHOOLS

This is the easy part: you can start by choosing the neighborhood and schools that meet your client’s needs, and then simply choose the house that suits them best in that area.

As above, this may end in a compromise between ‘must-have’s’ and the inventory that’s actually available in the client’s budget and desired neighborhood.

LONG-TERM COSTS

When your client purchases new construction, they can rest easy knowing that their electrical system, plumbing, heating, roof, appliances and other amenities are brand-new, and most include warranties. Upkeep and energy/utility costs will be minimal.

With an existing home, the future costs for upkeep, replacement appliances, and repairs on older roofs, electrical, and plumbing systems are unknown, and could be incredibly expensive. And if appliances aren’t energy efficient, those utility bills could be high as well.

Beyond these factors, there are many other reasons to introduce your clients to the options available for them with new construction homes. Download our complete (and free) Guide to Buying a Home for more information tailored to New Hampshire buyers, and pass it along to your clients; you’ll be glad you did!

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