Ok, some of the reasons we wanted to go new are first the fact that if we purchased now for something that we want in 3-4 years, it would be significantly cheaper to purchase ahead of time, without having to worry about a mortgage until closing. Another reason is, as you guys mentioned, I personally prefer newer design, finishes and archetecture rather than older. In this particular situation, we assessed the location, and realized that in 4 years, when the dust has settled, the area will likely be much higher in demand than it is now, and will likely be unaffordable to buy there at that time.
From my very limited experience, it appears that generally speaking, buying pre-construction, value appreciation is less dependant on the market. When I'm looking at purchasing, I'm not only looking at whether it would be a nice place to live, but also it's investment value. IF we decided to flip before occupancy, there is a fairly good chance that we would make a little money. If we were on the other hand to take the money we would put as a downpayment, and invest it elsewhere, in a mutual fund or something similar, which would appreciate more in a couple years?
As I'm sure you guys are aware by now, I'm fairly new to real estate, so pardon me if any of my comments are naive.
... I was really looking forward to it, but unfortunately, the only unit I was able to get was one that was out of budget.