Pre-owned homes have many great features:

• Pre-owned homes can be less expensive than new homes. Families who bought houses years ago paid less for their homes than what a developer may charge to build a new home today.

• Asking prices of pre-owned homes are generally much more negotiable than asking prices of new homes.

• Pre-owned homes are usually located in well-established, proven neighborhoods.

• Like with any home, you should have a pre-owned home thoroughly inspected (inside and out) by qualified professionals before you buy it. Be sure that the home meets today's building codes; doesn't have environmental, health, or safety hazards; is well insulated; et cetera.

• Pre-owned homes are "done" properties. When you buy a pre-owned home, you generally don't have to go through the process of buying and installing carpets, window coverings, and light fixtures. The work is already done and everything is generally included in the purchase price.

• Buying a pre-owned home may be the best way to get the architectural style, craftsmanship, or construction materials you want. Perhaps you want plaster walls, parquet floors, stained glass windows, or some other kind of materials or craftsmanship that could be difficult to find in new homes.

New homes also have some great advantages:

• New homes may be less expensive to operate and maintain. Some pre-owned homes have been retrofitted with energy-efficient heating and cooling systems. The older a pre-owned home's roof, gutters, plumbing system, furnace, water heater, appliances, et cetera, the sooner you may need to repair or replace them.

• New homes generally have updated floor plans or design features like a master bedroom, multiple bathrooms, garages, adequate electrical service, and central heating or air conditioning.