Resale: Why Buy a New Luxury Home vs. an Existing Luxury Home?
Whether you’re a first-time homebuyer or looking to sell your current home and relocate, there’s one question that can be difficult to know the answer to — should you buy new construction or an existing home? At Segal & Morel, we believe investing in a newly built luxury home provides a host of advantages and should be considered carefully by anyone exploring real estate listings. Among these reasons, being a better resale value tops the list. Here’s a closer look at why.
Newer Neighborhoods with More Space
More and more people are choosing to move away from bustling city centers and lead quieter, less hectic lives in the suburbs and countryside – and that’s exactly where many newly constructed luxury homes are situated. With more acreage and larger floor plans, these are the types of homes that attract a wide range of potential buyers, whether you resell the home in a few years or decades. In other words, new construction can offer an attractive lifestyle that keeps a home in higher demand in the real estate market.
Of course, new construction rarely stands alone. With each new build you consider comes the opportunity to join thriving, welcoming neighborhoods, such as the communities offered by Segal & Morel. This is another attractive selling point for whoever might eventually buy your home. Countless existing homes are located in decades-old neighborhoods, with some even dating back centuries. Although they might offer closer proximity to urban centers, these homes not only need updating to fetch a high resale value but also no longer offer the lifestyle that many modern homebuyers are seeking, making them a tougher sell.
More Attractive Community Amenities
Newly constructed homes don’t just offer the chance for a higher resale value because of modern finishes, the latest technology and appliances, and other in-home features. They also draw a pool of buyers who are willing to spend more when a luxury home offers access to attractive community amenities. For example, those who own the new builds in Segal & Morel’s Riverview Estates communities are able to take advantage of on-site amenities such as:
- Clubhouse with a fully equipped kitchen, fireplace, sitting area, table tennis, and more
- Beach volleyball court
- Tennis court
- Basketball court
- Hiking and biking trails from the Delaware River to the center of town
Less Upkeep and Greener Features
Homebuyers know that any existing home they view has the potential to wreak havoc on their budget with the need to make structural repairs, replace plumbing, and other hiccups. Not only can you prevent these woes when buying new, but you’ll also fetch a pool of buyers interested in a more recently built home that will likely need fewer renovations or repairs in the long run than a home constructed decades ago.
New construction is also usually more energy-efficient than older homes for lower utility bills and greater comfort year-round. With Energy Star qualification and green building methods, today’s new luxury homes will offer many benefits for environmentally minded homebuyers in the future, as well as those simply seeking to save.
Learn More from Segal & Morel
These are just a few of the reasons why buying a new vs. existing home could help retain the value of your investment and foster a higher resale value in the future. For more information about buying a new luxury home, contact the experienced team of builders at Segal & Morel today.