The purchase of a new home is always considered a rewarding experience by many Minnesota first time homebuyers not only because it allows couples or families to enjoy an entirely new space, but due to the convenience it provides particularly with the brand new amenities minus the hassles of maintenance during the first year. 

However, a brand new home can be significantly more expensive than an existing home and you don’t always know what to expect if you’re one of the few homes in a growing neighborhood. 

Comparing the strengths and limitations of each scenario helps in coming up with the best decision for your home buying; the following are questions you must keep in mind when you begin finding your new home

1. To what extent would you be wanting to pay for your desired property? Expect a premium price on any brand new homes in Minnesota because of its freshness; basically, you will be the first one to use everything, from the bathroom, kitchen appliances, to the painted walls and carpeted rooms. 

2. Do you care for resale value? Acording to Ilyce Glink, author of '100 Questions Every First-Time Home Buyer Should Ask', Minnesota homes for sale that are newly constructed do have faster appreciation than existing ones. Would you consider selling your property subsequently? If that is the case, it may be good to remember that once you move in to your new home, its market value becomes higher thus more profitable and easier to sell.

3. Are you the type of person who can adapt well? The construction of new homes rapidly increases at a certain time, thus, being a new homeowner in an area may require knowing more people in the neighborhood before having a full knowledge about the whole area.  You may need to consider safety and security if you have small children or elderly residents living in your home, and find out what options you have to make sure your home is as safe and secure as possible.

4. Are you willing to invest your resources for home renovation? Existing homes can appreciate tremendously in value if you have the time and resources to invest in renovations and maintenance. If you’re looking for a long-term investment that can generate a high profit in a short period of time, buying a ‘fixer upper’ may be your best home buying strategy.

5. Which do you prefer, a primary residence or an investment? Most beginning homebuyers want investment properties that they can soon turn into a profitable business. However, older and mature homebuyers prefer primary residence mainly for purposes of settling down or establishing themselves in the neighborhood. Consider what your short-term and long-term goals are so you can make the best decision for your first home purchase.

Once you have decided and thought about the amount you are willing to spend for your new home, it's about time to choose between an existing or a new home. These questions may all be helpful as you pick the best option suited to your budget and future plan.