Existing homes are usually in established neighborhoods. The character of an older neighborhood is different from that of a new development. In a new development, you don't know who your neighbors are but in an older neighborhood, you can go to the neighbors and ask them some important questions regarding schools, police protection, etc.
As a buyer, you will see a direct relationship between the care, maintenance and pride of the neighborhood in general and the price of the homes that are for sale. You also know the scope of the developed neighborhood with amenities and shopping centers, etc. In new construction, you could be unpleasantly surprised when undeveloped land near your home is sold and used for something you don't want nearby.
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