Lately I have been thinking about the similarity of purchasing a car and purchasing a new home. They are both big decision making purchases, and for some reason, they tend to put our lives on hold for a bit.
All of a sudden, your weeknights are spent searching on line for the best designs, quality/safety, convenient locations, warranties, interest rates, terms, and deals. Then your free time is devoted to shopping car lots or model homes on the weekends. As you test-drive the model home, you envision yourself entertaining your friends on the deck, eyeing where the big screen will go, and mentally picturing your family and furniture in this home. Even though a lot of research was done on-line, you go home with arms full of brochures, gleaming pictures, estimates of closing costs and big decisions to make.
And then a smidge of buyer’s remorse sets in… Do we really need to move now? Should I do more research? Maybe I should look at used homes. Why am I so stuck on buying a new home? And then you start to research again. And you still come to the conclusion that you are better off buying a new home.
Still brooding? Well how about this… There was an article in The Philadelphia Inquirer that stated that older (i.e. used) homes can have hidden problems. 35% require central heating system repairs, 44% require central cooling system replacement, 30% require roofing repairs, 33% show water seepage, 33% require insulation work, 27% require electrical repairs, 25% have mixed piping, and 15% require plumbing system repairs.