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    Do You Prefer the Charm of an Existing Home?

    Do You Prefer the Charm of an Existing Home? | MyKCM

    When homebuyers begin their research, they want to see all their available options! In many cases, they will include both new construction and existing homes in their search; but is a new construction home really the house of their dreams?

    According to a recent survey by Zillow, of the 38% of total buyers that added new construction to their list, only 11% ultimately purchased a newly constructed home!

    They added that 71% of these buyers are repeat buyers who are financially secure, with 45% using the money from the sale of their previous homes to make a purchase.

    Below are some reasons why buyers are interested in purchasing a new build:

    • Everything in the house is new/never used (49%)
    • To be close to family (41%)
    • The home is the best value for their money (37%)
    • Appealing home features (34%)
    • Desirable location (34%)

    So, then why did most of the buyers surveyed choose not to purchase a new home?

    1) Location

    Buyers could not find new construction in the desired neighborhood, and some felt that new construction is not established (e.g., landscaping, community, neighbors).

    2) Timing

    Buyers face the end of a lease or sale of their previous property and could not wait for a house to be built.

    3) Price

    Some buyers felt that new construction base prices were deceiving. Adding upgrades and HOA fees no longer made the home fit in their price range.

    4) Appeal

    For some buyers, new construction homes are too “cookie cutter,” and models are limited. Others feel that the charm and uniqueness of an existing house trumps one that’s never been lived in.

     

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    Lori Loesch

    Lori Loesch is our creative and joyful longtime Nashville resident. She has had a fascinating career that includes sales management, real estate, marketing, design and publishing. Lori is detail oriented and enjoys challenges and learning new skills. As a people person, she thrives on encouraging and helping others. Lori never meets a stranger and that is a wonderful skill to have in the real estate market. Lori joined The Milam Group in 2017 as the Marketing/Listing Coordinator. Her ability to design artwork, develop and implement marketing strategies, along with her curious spirit in the ever-changing world of social media, gives her an edge to make her the best Marketing Coordinator on the planet. “I enjoy going to work...not everyone can say that. Working at The Milam Group lets me be creative every day…and I love it!!! In the process, I get to help people and develop wonderful lasting relationships while working with an outstanding team of real estate professionals. I am truly blessed.” Lori was born in the Midwest, but spent her formative years in Florida. She and her musician husband, Joe have lived in Nashville for over 25 years. In her spare time, you will find Lori spending time with her family, working outside and involved with activities at her church. She is an accomplished inspirational artist and her artwork can be seen at LoriLoeschArt.com.

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