Evaluating your home choice
David Jackson //February 6, 2015//
As you think about purchasing a new or used home, take the time to fully evaluate the best course of action for you and your family. There are benefits to both purchasing decisions. You can better determine which home is best for you after weighing the pros and cons of each opportunity.
The benefits of purchasing a new home are many. You may select a home prior to construction and design what you want and find that special location to build your dream home to your specifications.
Selecting a used home can be a difficult process due to such factors as the obsolescence of the surrounding homes and the specific home of your choice. Remodeling a home can be – and usually is – more expensive than purchasing a new home of similar size and value.Have an inspector review every aspect of the used home you’re considering, just to be sure everything is in order. A cosmetic repair can give the appearance of perfection until the next heavy storm springs leaks, or an appliance breaks down after being used one-too-many times. Previous repairs should be disclosed by the seller, and the inspector should report all items needing repair.
There are more than 300,000 parts used in the construction of a home. Review as many of these parts as possibly before deciding whether to buy a new or existing home. The National Association of Home Builders releases studies of life expectancy of home components based on a comprehensive survey with representatives of research departments for manufacturers, trade associations, and independent research companies. These updated findings of the research are as follows and may be helpful as you consider your next home purchase:
Kitchen:
Bathroom:
Laundry Room:
Flooring:
Wall Treatment:
Mechanical Systems:
Home Technology:
Roofing & Drainage:
Exterior Siding:
Windows and Doors:
Exterior Landscaping:
Although this research indicates the aforementioned years of longevity, the lifespan of the various components can be increased through proper maintenance and is also affected by the quality of installation, climate, and everyday wear and tear. Homeowners may also replace these components due to individual taste or advancements in technology. In fact, the average life expectancy for many components has increased over the years due to new technology.
Obviously, when purchasing a new home, you’ll be starting at “day one” with each of the listed life expectancies (and the thousands of others not listed here). That is an important factor to consider when weighing the cost benefits of buying a new or used home. Replacing old parts can add up quickly.
You owe it to yourself and your family to evaluate the above information carefully when considering whether to buy a new or existing home. As long as you invest the necessary time and attention up-front, you’ll be able to make your new or used home purchase with tremendous confidence and ultimate joy.