In our luxury market here in Pittsburgh ($600,000 to $1.2 million), there are generally three types of homes: new construction homes, pre-owned homes that were built in the 80s and 90s, and older pre-owned homes that need more than just cosmetic updates. If you’re thinking of buying in the luxury market, today I’ll compare the first two types of homes so you can get a good idea of what’s best for you. Follow along in the video above to see my full analysis. For your convenience, I’ve provided timestamps so you can skip ahead to various sections: New Construction:0:54—Pro: You can build the type of home you want 1:45—Pro: Your home will be more efficient 2:03—Con: You’ll likely end up with a smaller home2:24—Con: You’re already maxed out in terms of resale value3:00—Con: You’ll pay the highest real estate tax bracket 3:21—Con: Builders tend to cut corners when building patios, decks, etc. Pre-Owned Homes: 4:06—Con: The home’s features are aging and the layout might not be ideal5:26—Con: You’ll likely have to upgrade the doorknobs and faucets5:48—Pro: Your home will have more square footage and a higher price per square foot6:19—Con: You’ll have to do some remodeling 7:08—Pro: You’ll be able to get a full brick home If you’d like to talk more about the pros and cons of each type of home or you have any other real estate needs, don’t hesitate to reach out to me. I’d love to help you.