It could be a great time to buy a brand now home because prices are down and builders are motivated to unload declining, but still significant, inventories.

Marty Gillespie, president of Heartland Homes, a custom home builder in western Pennsylvania, offers these reasons for buying new rather than existing properties.

● Buying new means new everything. New homeowners don’t have to replace carpeting, paint, or redo the kitchen.
● Mortgages on new homes are often lower. That gives new homebuyers bargaining power.
● Appreciation is greater. New homes tend to gain more value than existing homes during the first five to seven years.
● New homes are often more energy efficient. Gillespie says his company’s research shows that new homes are 30 to 35 percent more energy efficient than a home built 10 years ago.

Source: Pittsburgh Post-Gazette (04/26/2009)

http://www.realtor.org/rmodaily.nsf/pages/News2009042704?OpenDocument