Chapter # 6 – Should I Buy a New Construction or an Old Construction?
This is an important question that every home buyer is faced with. Old buildings certainly have charm and character and may offer spectacular original features, but they can also have a heap of things that need updating, fixing or improving. Meanwhile, a new construction building can be made to suit your specifications and you’ll have the benefit of being the first residents, but how do you know exactly what you’re getting when it’s not completed yet, and will it have as much soul? Only you can know what you’re looking for in your dream home, but here’s what I discovered while searching for ours.
I’m a sucker for old Brooklyn real estate – in theory I love everything about old buildings and I’d always dreamed of a cute and quaint old condo full of character (perhaps my favorite films, Breakfast at Tiffany’s and Barefoot in the Park, might be to blame for that!) And yet, while searching a home to buy, we found it very difficult to find any old condos for sale in Brooklyn that suited our needs completely.
The properties we viewed were generally really beautiful, but a few had faults that we couldn’t overlook. In some of the old buildings it was the size that was the issue, in others the need for repairs or some severe updating, and in others the appliances just weren’t up to scratch or there wasn’t enough storage or light. And yet, there were one of two we fell in love with and had to argue out some practicalities.
We never thought we’d even consider a new construction building as they seemed too soulless. And also, we wanted to be able to view what we were getting and it’s not like you can don a hard hat and wander round pre-construction projects as the walls are being built, right? Well yes, that’s true, but there is an alternative that we hadn’t really been aware of that’s probably the next best thing.
How familiar are you with online via state-of-the-art Virtual Reality (VR) & Augmented Reality (AR) technology? Well, you can choose a Brooklyn real estate agency that uses these technologies to show you around pre-construction projects, so you can get a feel for what the finished home will look like and be involved in the real estate construction process from the get go in terms of how your property will look. You get to have a say on all kinds of things such as dividing walls added or removed, tiles, storage space, paint colours, and lighting.
The VR and AR technology enabled us to have a viewing of a new construction building online before completion, and we could watch our suggested changes before our very eyes to see the impact our suggestions made. We were pretty amazed at how realistic the viewings were and we felt like we were actually walking through the property – it was an eye opener for sure.
And so – have we chosen a property? Not yet. There are so many pros and cons to consider but opportunities have opened and we’ve narrowed our search – we’re definitely getting close.