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Does My Dream Home Already Exist?

As homebuyers begin to research the market, they initially weigh their options. “Do I want a new home, or something more...

Suzanne Damon
February 12th, 2019
3 min read

As homebuyers begin to research the market, they initially weigh their options. “Do I want a new home, or something more quaint with character?” or “Will a new construction home really be the house of my dreams?”

This is where things get interesting. A recent survey by Zillow shows that 38% of total buyers added new construction to their list of desires when searching for a home, but only 11% ultimately purchased a newly constructed home. Zillow went on to say that 71% of these buyers are repeat buyers who are financially secure.

Reasons Why Buyers Are Interested

In Purchasing A New Build 👷🏼

41%

Close To Family

37%

Best Value For The Money

34%

Appealing Home Features

34 %

Desirable Location

So, why did the majority of buyers choose not to purchase a newly built home?

1) The Right Location

Location, Location, Location! It's the most important factor when buying real estate. Location creates desirability, desirability creates demand, and demand raises real estate prices. Buyers want a sense of community, which is something that has yet to be established when constructing a new home (e.g., landscaping, neighbors, etc).

2) Timing Really Is Everything

Buyers face the end of a lease or sale of their previous property and don't have the time to wait for a house to be built. According to Realtor.com, it can take anywhere from 3-6 months to build a home. This puts pressure on buyers as the end of a lease or sale of their previous property is imminent.

3) Affordability

Can you really afford the final price? Some buyers felt that new construction pricing is misleading. The biggest mistake homeowners forget to take into account are the added upgrades and high HOA fees.

4) Appeal

Did you envision your dream home as a "cookie cutter"? For some buyers, new construction homes have become way too generic. Others feel that the charm and uniqueness of an existing house surpasses those that have never been lived in.

Final Verdict

There are two primary advantages to buying an existing home: convenience and cost. Not all buyers are looking for that newly built dream home and chances are it already exists. There are many buyers looking for “the charm and uniqueness” of an existing home.

Find your dream home today.

Start The Search

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About the author

Suzanne Damon

603-493-5561

Partnering with a real estate agent you can trust, who has the proven experience, knowledge and negotiating skills to succeed, is as priceless as the home you’re buying or selling. With over 30 years of exceeding expectations in residential sales, Suzanne Damon is an unparalleled expert and advisor when it comes to your real estate needs. Suzanne’s extensive experience and proven track record as a buyer and listing agent, investment advisor, property management and marketing specialist have earned her coveted recognition as a leader in the nation. The Wall Street Journal and Barron’s Business Review have ranked her as a top-producing Certified Luxury Home Marketing Specialist for her outstanding level of service, and ability to produce results. Suzanne currently ranks in the top 10% of agents in New Hampshire and heads a talented full-time staff that assists her. The most important measure of success, however, is the reputation she enjoys with her clients, who reward her excellence with ongoing repeat and referral business. Known for her unique attentive approach and “client-first” philosophy, Suzanne embodies all the skills and qualities required of an outstanding real estate professional. The integrity, in-depth market knowledge, marketing savvy, expert negotiating and quality network she brings each client and deal are the hallmarks of how she works. Putting clients first also means being accountable, accessible and responsive. Whether you are buying or selling a home in the Manchester, Bedford, Goffstown, Hooksett, Londonderry, Auburn or Candia areas, Suzanne is at your side protecting your best interest and helping achieve your goals. Prestigious industry affiliations and accomplishments also set Suzanne apart. She is a designated REALTOR member of the Greater Manchester/Nashua Board of REALTORS, a member of the New Hampshire Women’s Council of REALTORS, and recipient of the prestigious ABR, CLMHS, and CRS designations. Suzanne has trained intensively in various facets of real estate, from financing and legal matters to appraisal and taxation. She also founded two thriving organizations: her own brokerage company in Hooksett, NH which she managed and sold to a large franchise, and DAMON HOMES, LLC, managed by her husband and son, which develops raw land for enhancement of the community. Personally, Suzanne has been married to an incredible man for over 32 years, with whom she raised three wonderful children. Their close family spends as much time together as possible and loves to travel when time allows.