29% Of Texas Homebuyers Chose New Construction
The Texas Association of Realtors recently released the 2019 Texas Homebuyers and Sellers Report. It has some excellent data on the makeup of home buyers and home sellers in our great state. It also offers some great infographics on how we compare to national statistics.
The New vs. Preowned Debate
One area where Texans differ from the rest of the nation is in the purchase of a new home. The report states that 29% of homebuyers in Texas bought a new home compared to only 14% nationwide. I think the statistic makes sense given the population surge we've experienced in the last few years.
Motivation Behind The Decision To Build Or Buy Existing
The reasons why people purchased a new home or an existing home were fascinating. The study cites that the motivation for buying new construction is mostly to avoid renovations and repairs, amenities of new communities, customizing the design, and energy efficiency. In contrast, those buyers that purchased an existing home stated that value, price, and charm were the most significant deciding factors.
Of all my research on this topic, I found my old buddy Dave Ramsey with the best take on the debate of new versus existing. His pro/con list is spot-on.
Last year, I took the plunge and moved to a smaller home for the empty-nest phase of life. We debated new construction, but in the end, we opted for location and the charm of a pre-owned home in an established neighborhood. The only thing I wished I had in my new-old home is better energy efficiency. We will get there eventually with some new insulation and upgrades to the mechanicals as they age.
Looking For New Construction?
What about you? Are you a buy-new kind of Texan? If so, I have an outstanding resource for you. You can view all of the new home sites in one place with this great tool. Give it a try!
Finding A Great Pre-owned Home To Suit Your Needs
If you are a pre-owned kind of Texan, then use my Advanced search feature to see all the homes available within your custom parameters.
Ready To Buy?
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