According to a recent survey conducted on behalf of Trulia, 41% of consumers say they prefer new homes over existing homes. 21% say they prefer existing homes, and 38% had no preference.
While statistics show that twice as many people prefer new homes over previously built ones, few are actually willing to front the higher cost that is typically associated with a new construction home. On average, new homes require about a 20% premium over existing, and only 17% of people surveyed said they were willing to pay this amount.
Experts at Trulia analyzed price points for different types of homes. They found that while new homes of similar size to their pre-built counterparts are more expensive, they offer significant benefits. The most sought-after features in new construction homes include open floor plans, pre-wired walls for mounting televisions and added technology perks, the ability to personalize and add custom features during construction, larger closets and heated floors.
The most common reason given for preferring a previously built home was the lower cost. However, some respondents also value original features such as original flooring, woodwork, historic detail, stained glass windows, or the neighborhood.
Results also showed that consumers who preferred new homes didn’t mention neighborhood as a key factor as often as those who preferred existing homes. This data leads to the conclusion that new construction homes in already established neighborhoods could be the perfect solution for many Americans.
Harbour Classic Builders, a locally owned and operated builder in League City, Texas is currently building high-end custom homes throughout the Houston Bay Area. Harbour Classic is uniquely in control of a high volume of vacant lots in beautifully planned, established subdivisions, and can offer the charm of great neighbors combined with the modern amenities and style of a new construction home.
Contact Harbour Classic Builders today for a list of available neighborhoods.