This weekend, I met a potential client who was thinking about selling his home. However, it wasn’t sure how many bedrooms he needed or where he wanted to move to.

Suprisingly, this is a very common problem.

When it comes to selling your home and finding your next dream condo in Massachusetts, you might be concerned about the available options. The good news? The inventory of homes for sale has been increasing across many markets this year, including both existing condominiums and newly built ones.

But how do you choose between an existing condominium and a brand-new one? It all depends on what’s most important to you. Lets view your options

Perks of a Newly Built Condominium

When you opt for a newly built condominium, you’re not just getting a fresh start—you’re also enjoying several distinct advantages:

All-New Everything: One of the most exciting aspects of a new home is that everything is brand new. You’ll be the first to use the kitchen appliances, walk on the floors, and enjoy the untouched finishes. There’s no wear and tear, no lingering odors, and no hidden surprises. This fresh start can be particularly appealing if you want a home that’s entirely yours from day one.
Energy Efficiency: New homes are built with the latest technology and materials designed to maximize energy efficiency. From high-performance windows and doors to state-of-the-art insulation and energy-efficient HVAC systems.
Fewer Repairs and Maintenance: A newly built home means you won’t have to worry about unexpected repairs or outdated systems. Most builders offer warranties that cover various aspects of the home for a set period, providing peace of mind that major repairs won’t be an immediate concern.
Customization and Modern Design: Many builders offer the opportunity to customize your home during the construction phase. This means you can choose your preferred layout, finishes, and even some structural elements, ensuring the home is tailored to your tastes and lifestyle.
Builder Concessions and Affordability: In today’s market, many builders are keen to sell their current inventory before starting new projects. This eagerness can work to your advantage, as builders may offer concessions such as covering closing costs, providing upgrades at no additional cost, or even offering financing incentives.

Perks of an Existing Condo

Existing homes, with their history and established surroundings, offer a different set of benefits that might resonate with you:

Established Neighborhoods: When you buy an existing home, you’re not just buying the house—you’re buying into a neighborhood. Established neighborhoods often have a sense of community that takes years to develop. You can explore the area, talk to the neighbors, and get a real sense of the lifestyle before committing. These communities also tend to have amenities like parks, schools, and shopping centers already in place, adding to the convenience and comfort of living there.
Variety of Architectural Styles: Maryland is rich in history, and this is reflected in the wide variety of home styles available in the market. From historic rowhouses in Baltimore to charming farmhouses in Harford County, existing homes offer a diverse range of architectural styles and floorplans. This variety allows you to find a home that truly matches your personal aesthetic and lifestyle needs, whether you’re drawn to the craftsmanship of a Victorian home or the simplicity of a mid-century ranch.
Lived-In Charm and Character: Older homes have a warmth and character that can’t be replicated in new builds. Features like original hardwood floors, intricate moldings, and unique architectural details give these homes a distinct personality. You might find a home with a history, complete with stories from previous owners or even historical significance. This charm often extends to the home’s landscaping, with mature trees, established gardens, and privacy that takes years to cultivate.
Room for Personalization and Value-Adding Upgrades: One of the greatest perks of an existing home is the potential to make it your own over time. While the home may already have its own character, you can still personalize it with renovations and upgrades. Whether it’s modernizing the kitchen, adding a bathroom, or creating an outdoor oasis, these improvements not only make the home more suited to your tastes but also have the potential to increase its resale value. This flexibility allows you to enjoy the charm of an older home while incorporating the latest trends and technologies.
Competitive Pricing and Negotiation Opportunities: Existing homes often provide more room for negotiation on price, especially if the home has been on the market for a while. Sellers might be more willing to negotiate on terms or price, offering you the chance to secure a home within your budget while also having some extra funds for any upgrades you wish to make. Additionally, existing homes might come with established property tax assessments, giving you a clearer picture of ongoing costs.

Boston Condos for Sale and the Bottom Line

Deciding between a newly built home and an existing one is a personal choice that depends on your priorities and lifestyle preferences. Both options have their own unique advantages, and it’s essential to weigh them carefully as you explore your next move.

Where will you go after you sell? Whether you’re drawn to the newness and customization of a freshly built home or the charm and history of an existing one, the Ford Realty Team is here to guide you every step of the way. Call us today, and let’s find your perfect home in Massachusetts.

Peace be with you

Updated: Boston Real Estate Blog 2024