Decide between buying a new home and an existing

Trying to decide between buying a new home and an existing? There is more to consider than the price on the surface. Both options may contain hidden costs. Following is a list of factors to consider.

• Price

• Options

• Potential resale value

• Taxes

• Equity

• Potential maintenance costs

• Cost of improvements to an existing home

• Size of the home or square footage. Compare the same size homes.

• The age of the home plays a part in the actual value. Would you pay more money for a newer home?

• Does the layout of the home fit your lifestyle?

• What type of improvements may have to be done to an existing home?