Why Should I buy a new home instead of a previously owned one?

This is a great question, but the things besides finding the perfect home that would drive me to falling in love with a new home are the practical - warranty and financing.
I know how tight my budgets are these days, and right now I don't know where I'm going to find the money to tune up my 1950's air conditioner. Living in an older home means that I am constantly fixing something and I have to add that into my budget. It's just Murphy's Law - if something can go wrong it will.
Every builder I know of includes at least a one year warranty and some offer even more- many times this might even be dictated by the state  you live in. You can purchase a warranty on a previously owned home, but I have had horrible experiences with these - they charge you at least $50.00 every time you call, then come up with an excuse why your issue isn't covered. A new home has all new appliances, roofs, flooring, plumbing, etc in it and besides what the builder warranties, the manufacturer often times will over their own warranties.  The key is to put all of this information in one place after you are happily in your new residence.
As far as financing, builders spend a lot of time and effort doing the research to find the best lenders that become a part of their team - that way the lender understands what the builder is doing and the builder has almost been "pre-qualified" as someone who builds a home that the lender wants to lend on. It is always an option to come to the table with your own financing, and if you do then you will have at least two options to look at.
When I went to the Holiday Builders Open House in Royce City I had the opportunity to meet Kent Winkelseth who is the production manager  for Shelter Mortgage in Texas and Florida. Holiday mostly builds an entry level priced home, and Shelter had obviously done a lot of research to be able to offer the best loan choices to Holiday's buyers. He got my interest when he told me about a Single Family Housing Guaranteed Loan program. It's a Texas program that offers 100% financing with no down payment in specific areas, most of which Holiday is building in. Being able to come up with a down payment is the hardest part of home ownership for most first time buyers, so something like this can make the difference between renting and buying. With Shelter offering dedicated loan agents that know what Holiday Builders offers, you can be in your new home before your next family holiday!
Foreclosures and repossessions may look like a great value on paper, but think about if that was your home that you couldn't afford any longer and had to give up. I'm sure maintenance on it hadn't been a priority for a long time so the new owner will be inheriting all of the issues you wouldn't have had the money to take care of. My own home wasn't a foreclosure but had been neglected for quite awhile. I bought is as-is and it was - including a 4- x 6' hole in the second floor that the previous owners had done a great job of hiding! After you buy a foreclosed home you are on your own - there won't be a builder, sales person or team to be there when issues arise.
But if you are a gambler, there are great values out there. Just be sure that you realize the risks before you buy a home that might end up costing you much more than you expected and isn't such a great deal after all.

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