Related Posts
More Posts
Thoughts on analyst to associate promote in IB?
Additional Posts in The Real Estate Bowl
Can I get a commercial loan without 25% down?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.




Subject Expert
New construction will likely have special promotional financing available, and many will have a warranty. You can also customize your finishes if you buy it while it is still being built.
A foreclosure may have limited financing options, and will have a lot of unknowns if it is truly bank owned. I would not suggest it unless you have a reasonable contingency fund for repairs.
If you have a reputable real estate agent and a home inspection, then both can be excellent purchases. Foreclosures typically will have some repairs needed. And just because something is new construction doesn’t mean it was built well. Look for something in between. Our home was built 1969 and our home inspector said it was better built than any of the new construction he had seen in the last five years. Decide what it is you like, and then speak to reputable agents and see what your options are..
For new builds, you pay about 20% more in the purchase price, but they may have rate buydowns so it could be more affordable.
Mentor
Those are two extremes