Where Will You Go After You Sell? Understanding Your Options in the DFW Metroplex

If you're planning to sell your house and move within the Dallas Fort Worth Metroplex, you’re likely aware of the recent shortage of available homes. However, there's good news: the supply of homes for sale has grown this year, including both newly built and existing homes. But how do you decide which option is best for you? Let's explore the benefits of both newly built and existing homes to help you make an informed decision.

Perks of a Newly Built Home

Buying a newly built home offers several advantages, especially in today's market. Here are some key benefits:

Brand New Everything

When you buy a newly built home, you get the advantage of brand-new appliances, fixtures, and materials. This means you won’t have to worry about replacing old or worn-out items for a while.

Energy Efficiency

New homes are often built with the latest energy-efficient options, which can save you money on utilities and reduce your environmental footprint. Energy-efficient homes are designed to maintain optimal temperature control, lower utility bills, and provide a more comfortable living environment.

Minimal Repairs and Builder Warranties

With everything being new, the need for repairs is minimized. Plus, new homes typically come with builder warranties, giving you peace of mind about potential issues that may arise.

Builder Concessions

Many builders are currently offering concessions to sell their existing inventory, making it more affordable to buy a new home. These concessions can include price reductions, upgrades, or assistance with closing costs.

Competitive Pricing

Interestingly, the median price for a newly built home is now lower than the median price of an existing home. According to Ralph McLaughlin, Senior Economist at Realtor.com:

“Homebuyers who are looking for that ‘new-home smell’ may be in a relatively friendlier market than times past when new homes were considerably more expensive than used ones.”

In areas like Southlake, Fort Worth, and Keller, this trend can make new homes an attractive option.

Working with Your Real Estate Agent

Your real estate agent can help you navigate the process of buying a new home by leveraging their knowledge of local builders, new communities, and builder contracts.

Perks of an Existing Home

Existing homes also offer unique benefits that might align with your lifestyle and preferences. Here are some advantages of buying an existing home:

Established Neighborhoods

Existing homes are typically located in established neighborhoods, allowing you to get a feel for the community before moving in. This can be particularly important for families looking for good schools, amenities, and a sense of community.

Variety of Floorplans and Styles

With existing homes, you have a wider variety of architectural styles and floorplans to choose from. This variety can help you find a home that truly fits your personal taste and needs.

Lived-In Charm

Older homes often come with a unique charm and character that new homes may lack. Features like mature trees, well-established landscaping, and historical details add to the appeal.

Potential for Upgrades

One strategic advantage of buying an existing home is the potential for upgrades. You can personalize your home over time with cosmetic updates that enhance its value. As LendingTree points out:

“. . . they can personalize it and possibly increase its potential resale value with cosmetic upgrades . . . Plus, if a home comes with physical details or stories that add charm, in some cases, these elements are attractive enough to add to a home’s resale value . . .”

Real Estate Agent Assistance

Your real estate agent can show you the available homes in your area, helping you find an existing home that meets your needs and fits your lifestyle.

Bottom Line

Deciding whether to buy a newly built home or an existing home involves weighing various factors, from financial considerations to personal preferences. In today's market, understanding the opportunities and benefits of both options is essential. Let’s connect to provide you with expert guidance as you explore your options in the DFW Metroplex, including Southlake, Fort Worth, Keller, and Haslet. At DFW Elite Realty, we're here to elevate your home-buying or selling experience and help you find the perfect home for your needs.