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The Search is On
This section was prepared with the assistance of Asher Brodt and Malka Mandel of Imperial
Real Estate Agency, Yehuda Ungar of Toma Real Estate, Baila Jaskiel of Keller Williams, and
Yitzchok Pollack of George Realty.
Buying vs. building
By far the most common purchase is that of an existing home, purchased
from a previous owner. One attraction of an existing home is its immediacy;
these offers abound, and once you find the home you want, you simply need
to sign a contract and arrange financing, and could move in within a month
or two of first seeing the home.
Purchasing a new home from a builder or developer is another option. Rather
than choosing every tile, cabinet, and finish, a basic package has been determined
for you, although you can often upgrade specific components, and the
framework allows for expansion down the line. This keeps costs and delays
down, while allowing you some control over the finished product.
Others choose to purchase a lot and hire a builder to build a custom home.
The sky is the limit in terms of customization and flexibility, but all that
uniqueness will have to be paid for, making this the most expensive option
for most people. While an existing home may require some renovations or
upgrades, when building, there is always the temptation to add in numerous
upgrades and personal customizations, all of which quickly add up.
Also, because you have complete control over every element of the construction,
you will be involved in choosing everything from cabinet hardware to
2017 Lakewood Home Buyer’s Guide | 53