No. of Recommendations: 0
It does depend to a certain degree on who the builder is and where you live. But my unscientific point of view, as someone who lives in the NYC metropolitan area, is that new construction is currently more risky than usual because there's an awful lot of new junk out there being thrown up in a hurry to capitalize on the bubble. I've read about local builders filing two different sets of plans with the city and state and buyers getting locked out when the inconsistency is discovered, and I know people who have both bought and rented into new construction that turned out to be a nightmare of delayed occupancy permits, poor infrastructure and the like.

I've owned aging existing property and it certainly has its own set of problems. But at least it has a track record, and new construction often does not. Do your homework as aggressively as possible.
Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.