In the current economic climate, as the rate of foreclosures reaches new highs, it appears that there are many existing homes to be had at rock-bottom prices. But buyer beware – you generally still get what you pay for. Here’s why it may still make more sense to build a new home in Maine vs. buying an existing house:
- New is New: A new Built By Adams home will be built with the latest technology, green building practices and building code standards. The materials, fixtures and appliances in the home will be under warranty, which means you will avoid costly repairs that are standard upkeep for most existing homes.
- It’s All About You: Built by Adams works with you from the design process to the home’s completion to ensure that your new home includes all the features and amenities necessary to suit your lifestyle. Finding an existing home with the same level of customization without renovation is next to impossible.
- Getting Your Money’s Worth: Advocates of buying an existing home vs. building a new home are constantly touting the affordability of buying over building. And while the cost per square foot of an existing home may initially appear to be less, it is not really be so once you take into consideration the cumulative costs of energy loss, repairs and renovations.
There are certainly situations where buying an existing home in Maine is the right fit for you, especially if timeline and convenience are your two biggest concerns. However, a new home purchase is one of the biggest investments you will make in your lifetime, and you owe it to yourself to make sure that you’re getting what you pay for.
