This entry was posted on Sunday, August 19th, 2007 at 10:33 am and is filed under Home Buying, Housing Bubble, Buy and Sell for Less. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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August 19, 2007
Don’t Buy New
If you’re considering buying a new home, with or without an agent, I would caution against it. Besides the reasons I already listed off, new constructions generally lose value, or appreciate very little during the first few years of ownership, particularly in today’s market. Keeping all that in mind, some people just like new stuff, and hey, at least you’ve got a better chance of a new home appreciating than a new car.
If you’re trying to get the best deal possible, chances are, unless you find an extremely desperate builder, your best shot is with and older home. Always shop however. You may get lucky and find an exception to the rule. Know your market well. For example, Las Vegas is currently overflowing with new home inventory. A shrewd buyer willing to bargain hunt could potentially do quite well in such an area.
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