Buying a Resale Versus New Construction in Baltimore
When buying a new home in Baltimore, you may come to a point where you will need to decide whether you want to focus on Baltimore new constructions or pre-owned properties. Most buyers will look at both types of homes, but you'll likely find that one particular type appeals to you more than the other. Here are some benefits and drawbacks to consider for both types of real estate.
Benefits of Buying New Construction Homes
When you shop for Baltimore new constructions, you'll benefit from buying a home that is brand new. Meaning, no one has ever lived in the property before. Everything from the sink to the oven will have never been used before. You can be almost certain that your appliances will work, and will work for a while as they will likely come with a warranty.
In addition, you may have the option to put in the upgrades, choose paint colors and flooring options that meets your own personal style when buying a new home in Baltimore, provided that the home is a new construction and has not already been built. This can help the home be exactly what you're looking for from the day you move in, and can eliminate the need for improvements.
Drawbacks of New Constructions
However, Baltimore new constructions may not be the perfect choice for. When buying a new home in Baltimore, you may be moving into a neighborhood that's practically empty. You won't have the chance to get a feel for your neighborhood and the tone of the community. Also, these homes often cost more than pre-owned homes, and may not have the extras like nicely landscaped yards or backyard swimming pools that a pre-owned homes may have.
Benefits of Buying a Pre-owned Home
Buying a pre-owned home allows you to get to know the tone of the neighborhood before you move in. you'll know who your neighbors are, have the chance to do some drive bys at various times of the day and see what the culture of the community is really like. Also, many pre-owned properties have improvements that new homes won't have, especially in their yards.
Drawbacks of Buying Pre-Owned Homes
A pre-owned home isn't new. Chances are you'll want to change something, whether it's the paint color or the retro 1970s cabinetry. This can add to the cost of the property, thus limiting the amount of your savings.
Buying New Homes in the Current Market
Buying a new home in Baltimore in the current market requires smart shopping. You'll have to realize that the inventory is currently low, so you'll want to be flexible when negotiating in order to help improve your chances of landing a home in spite of greater competition. Offer more earnest money and work with a qualified agent to improve your chances of finding the right home quickly.
If you are interested in Baltimore new constructions, inventory may be lower than it's been in the past, but that doesn't mean there aren't options. Several communities have homes that will be available soon in the greater Baltimore area, including newly constructed townhomes and condos. Working with an experienced agent will help you be ready when these communities have properties available.