While searching local homes for sale, you may be wondering whether to purchase a new or existing home. Approximately 5.64 million existing homes were sold during 2020, according to data from the National Association of Realtors. The current real estate market can be quite competitive, which means buyers need all of the help they can get. Below, you'll find our buyer's guide to finding local homes for sale -- and choosing between new versus existing houses during your search. Here's what you need to know. New vs. Old: What's the Difference? Before exploring local homes for sale, check out the details below to learn the difference between buying a new home and an existing one. Buying a new home: Brand new homes are move-in ready with new features. Some may include smart technology or eco-friendly elements. To get everything new and ready for move-in, you'll end up spending a bit more upfront. While there may be certain things you'll eventually want to fix or change, the upside here is that a new home shouldn't need any major repairs right away. Buying an old home: Older homes often need major repairs, which can get expensive quickly. However, this could make the home sell at an affordable price and allow you to renovate it exactly how you want to. A bonus to older homes is that you can find one in an excellent location. You'll also be able to obtain a home with charm and features that were built to last, which are harder to come by with new builds. With newer homes, you'll most likely work with the builder, which can go a lot smoother than a homeowner that feels their home is worth more than it is. It's less stressful and you can move in much sooner, assuming there are no delays with the building process. With older homes, you'll have to work out an agreement about the closing date and when you can move in. Some homeowners won't come down on price even though there are significant issues with the home. You may not be able move in until the seller has found a new home or certain stipulations have been met by either party. Ultimately, it comes down to what you want in your next home. Can you afford that new home with all of the newest bells and whistles, or would you rather get the older home in an ideal location that needs a few renovations or repairs? Every person looking at local homes for sale wants something different. List your priorities and make sure to keep your expectations as realistic as possible. Explore Local Homes for Sale and Find Your Next Dream Home No matter if you buy a new or existing home, it's time you find your dream home that you can grow into. For more information on how we can help, please contact us today.