Wednesday, September 28, 2011

To Buy a New or Foreclosed House?

Here is an article from the Wall Street Journal. It talks about how people do not want to buy new houses because they simply do not want to spend the large amount of money. Instead they have a vast amount of foreclosed houses that they can choose from to buy. The biggest factor in this is that they are saving money, which in today's economy is a big deal. However, buying a new house has its benefits because it's a better product and houses being built today are built for they way in which people live today rather than a few decades ago. One of the most important part of buying a house though is to ask questions to get a good understanding what exactly is being purchased.

1 comment:

  1. Buying a newly built house does have its benefits, but some of the foreclosed homes that are available for purchase now, were not necessarily built a decade ago. Some were built pretty recently, which understandably attracts a lot of buyers, especially first time home buyers. However, some of these first time buyers run into trouble when they see the large size and low price of the foreclosed homes, because they do not consider the high utility prices that come with big houses.

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