The Pros and Cons of Buying a Newly Built Home

According to Trulia’s latest survey, twice as many people prefer new homes to existing homes. “New” means exactly that: brand-new properties that have never been lived in before, or homes purchased in the preconstruction phase. On the flip side, “existing” homes are preowned properties, most of which were built between the 1920s and the 1970s. …

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FHA mortgages are poised to get more expensive

The Federal Housing Administration (FHA) plans to impose significant restrictions on the amount of money that sellers can contribute at closing in the near future. The FHA also will be raising its mortgage insurance premiums during the coming weeks, increasing charges for new purchases across the board. Making sense of the story: One reason for …

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