Should you invest in a new home or one that is up for re-sale?
In a recent article, CNN Money compared the pluses and minuses of investing money into new construction or pre-existing home purchases. The results show a variance depending on what your plans are and needs for a home.
For example, if you want to get into a home faster, then Pre-existing is the better option as you have quicker close times and can get into a home in roughly 30 to 45 days. New construction is a minimum of 60 days out and sometimes up to 6 months depending on price point and selections.
If it comes down to cost of living, new construction may be the better option as you are less likely to have costly repairs. New homes also trend toward lower utilities as homes are built more and more toward energy star standards.