Key Differences of Buying Existing Homes vs. New Construction Homes

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Choosing the perfect Outer Banks real estate can be very exciting. The options boast a wide variety in style, design and age. But buyers are often confronted with the choice between existing homes or newly constructed homes. It’s important to remember both offer great benefits and unique opportunities in the east coast’s premier vacation destination. Here are some things to consider when choosing your OBX real estate property.

Style of the Home

Home design is always changing and will continue to change, especially on the Outer Banks. Existing homes may be more of a ranch-style home compared to new builds that focus on being elevated and growing vertically. Existing one-story homes are especially helpful for those who have trouble with stairs. New construction homes built with multiple floors offer a buffer from the ground and can often offer better views of the Outer Banks.

Building Code Compliance

Existing homes were built using different code compliance than new construction homes. When considering existing homes, it is recommended to have an inspector review the home’s code compliance and to bring to light any potential code issues if construction on the home occurs. New construction homes are built using the current county codes and meet all mandates and requirements.

Historic Feel vs. Modern Design

If you are looking for a classic Outer Banks beach home, an existing home may be the best option for you. Homes from the beach’s yesteryear can give your family and renters the homey, nostalgic retreat you desire. The case for the modern home offers new amenities, updated construction that can provide your family the foundation for making new memories and traditions. Be sure to tour a model home or the existing home to make sure it is the right ‘feel’ for you and your family.

Taxes

Taxes on the Outer Banks vary due to square footage, property size, age of the home, and sometimes location can even play a role. Be sure to research the tax obligations of any home you are considering to purchase, whether existing or new construction. The price difference between homes can be very large so knowing what each home’s tax obligation is can make the difference in your home choice.

These are just a few things to consider when you are researching your perfect Outer Banks home. Contact Eillu’s team of experts to assist you in finding the perfect OBX property for your family to enjoy!

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