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.

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About the author

Suzanne Damon

603-493-5561

A long-time resident of the Manchester, NH area, Suzanne Damon has been a powerhouse in real estate for the past 29 years. Ranked among the top-producing agents in both New Hampshire and the United States, she leads The Damon Home Team with expertise, integrity, and a deep commitment to her clients. Suzanne’s entrepreneurial spirit started early—at just seven years old, she was pulling a wagon through the city, selling flowers from her garden. That same determination carried her through college debt-free and has fueled her success in the ever-evolving real estate market. She understands the rollercoaster of life and knows firsthand the challenges that come with buying or selling a home. Beyond real estate, Suzanne is the President of 1628 Group, a real estate development company focused on community growth. She is also deeply involved in giving back—serving as a Court Appointed Special Advocate (CASA) for children in need and proudly supporting Liberty House, a local organization dedicated to helping homeless veterans rebuild their lives. Hardworking, caring, and genuinely fun to work with, Suzanne and her team bring a no-pressure, results-driven approach to every transaction—because achieving your real estate goals should be exciting, not stressful. Reach out: www.TheDamonHomeTeam.com, 603-493-5561 call or text.