Are you a first time home buyer? If so, you’ve probably been dreaming of owning your own home for a while now. When you think of your home, you probably picture it exactly as you want it to look. You can’t imagine living in a home that doesn’t meet your expectations or one that isn’t close to what you want. For those reasons, it’s always a good idea to look for homes for sale that have never been lived in before. You may be concerned about the costs of buying a new home, but you’ll be happy living in your dream home once you have it. In fact, around 48% of buyers prefer to look for new homes, according to Zillow, so you’re not alone in this decision.
Interested in learning more about the benefits of buying a new home versus a home that someone else has lived in? Keep reading to find out why you should search for new homes for sale as a first time home buyer.
Statistics About First Time Home Buyers
Before you begin your search for homes for sale, it’s important to learn about what to expect. For example, it may take a while to find the perfect home for you. You shouldn’t expect to walk out the door and find your dream home on the first day. You may have to search online, and visit many homes in person over a span of months to find the right home. When people decide to buy a home and start actively searching, on average it takes a little bit over four months to find a home.
It’s also a good idea ahead of time to decide what type of home you will search for. The wider you keep your search, the longer it could take and the more confusing it could get to find your dream home. For instance, decide if you are looking for a townhouse, a single-family home, or a condo. Currently, 56% of people tend to look for single-family homes. 24% of buyers search for townhouses and around 8% prefer to search for condos, according to Realtor.com’s Active Home Shopper Report.
Top Three Points of Focus for Home Buyers
When searching for new houses for sale to buy, most first time home buyers are concerned about three things. These are privacy, family needs, and asset accumulation. Each one of these explains why first time home buyers are frequently looking for new houses rather than homes that have already been lived in by someone else.
When it comes to privacy, you will likely be able to find a new home in a new neighborhood that offers more privacy than a home that has already been in lived by someone else. A home lived in by someone else has been visited by many other people during the time it was occupied by someone else.
For your family’s needs, a new home is the only one that can offer everything you need. If you settle for a home someone else has lived in, you will surely sacrifice one or more of the requirements you are looking for in a home. It may not be the color you want, it might not come with the flooring you want, and the rooms may not offer the right amount of space.
Lastly, asset accumulation is extremely important when it comes to deciding between a new home or one that someone else has lived in. Your home will likely be worth more if it is new than if it has been lived in before. When first moving in, of course you aren’t living about resale value just yet. Still, you don’t want to purchase a more affordable house in the present moment to save a few bucks. If you do, it will be worth even less when you try to sell it down the line. Any investment you make into a home now will be worth it in the long run.
Have you started your search for new homes for sale that meet your family’s needs? Where did you start your search for your dream home? Let us know about your experience in the comments.