Does My Dream Home in Denver Already Exist?

As homebuyers begin to research the market, they initially weigh their options. “Do I want a new home, or something more quaint with character?” or “Will a new construction home really be the house of my dreams?”

This is where things get interesting. A recent survey by Zillow shows that 38% of total buyers added new construction to their list of desires when searching for a home, but only 11% ultimately purchased a newly constructed home. Zillow went on to say that 71% of these buyers are repeat buyers who are financially secure. 

So, why did the majority of buyers choose not to purchase a newly built home?

Final Verdict

There are two primary advantages to buying an existing home: convenience and cost. Not all buyers are looking for that newly built dream home and chances are it already exists. There are many buyers looking for “the charm and uniqueness” of an existing home.