When deciding to buy a home, many people face the choice between purchasing a new or used property. Jennifer Castillo, Business Executive at Vivienda en Línea, provided guidance on what buyers should consider before making this decision.
Castillo emphasized the importance of identifying personal needs before comparing options. “People often evaluate, when they have a family for example, the space, the number of parking spaces available within a neighborhood and security. Others see the purchase as an investment. In that way, they build their assets in areas with added value. So it is important to define your needs before starting the acquisition process,” said Castillo.
New homes offer modern materials and construction guarantees, while used properties may be more affordable and located in established neighborhoods with nearby services. Buyers are encouraged to weigh factors such as maintenance requirements, potential renovations, and energy savings when comparing options.
For those considering used homes, Castillo advised careful review of the property’s legal status. She noted: “Also keep in mind that the seller's price does not always match the total appraisal value. This process, if it is a direct loan, must be done after prequalification with authorized companies. On the other hand, if it is done with FHA, payment for the appraisal must be made at the beginning.”
Vivienda en Línea offers resources to simplify comparing real estate projects and applying for financing. The portal features developments from various builders and provides information on property characteristics and available credit options.
While Vivienda en Línea only lists new projects, buyers interested in used homes can still use Banco Industrial’s support services to navigate financing processes once they find a suitable property elsewhere.
Castillo concluded that buying a home is not just a financial decision but also a life choice. By analyzing needs carefully and using reliable tools like Vivienda en Línea’s platform, buyers can make informed decisions about their future investments.
Alerts Sign-up