Home Buying: Pre-Owned v. New v. Custom

Today on Financial Clarity for Doctors, Corey and Rachelle discuss different ways of purchasing a home.  With housing inventory still being low in many places, it can be helpful to explore all your options.

Types of Homes to Consider:

• Homes for sale by another owner (pre-owned homes).
  • Can include single family homes, but also condominiums or townhomes.
  • This is the fastest way to get into a home generally, but the home is what it is.
  • Can potentially negotiate on price and other items.
• New construction homes that have already been built or are in the process of being built.
  • This will be a brand new home, and you may even get to pick some of the finishes if the build is not complete.
  • Much less negotiation with a new home.
• Custom homes
  • This can be more expensive, slower, and more challenging to finance, but will be the closest to exactly what you want.

 

You may be limited a bit by your timeframe, but if you have the time, it is well worth it to explore all options available to you.

For more financial planning tips from Corey and Rachelle, find them on social media!
LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance 

Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.