Buying New vs. Buying Resale

Are you thinking about buying? 

Have you considered whether or not a newly built home is right for you?

Buying a house, as we all know, is a significant decision, especially if you are a first time home buyer. These decisions determine where you and your family will spend the next years of your life, how much space you have inside the home, what type of repairs you will take on, how far you drive every day to work, and how far from town you are. The home you choose has a great effect on your daily life and should be approached with knowledge and certainty. 

Here are some pros and cons to buying new versus resale property!

New Construction

  • New homes are built with new materials and appliances, so less maintenance is required than with resale homes, particularly in your first couple of years living there. 
  • They feature modern architecture and layout, such as great rooms, bigger closets, additional bathrooms, and home offices.
  • They often have more safety features and fewer health hazards because they conform to today’s building codes. 
  • Many home builders offer warranties in case certain problems develop over time. 
  • The home’s major appliances and systems also typically include manufacturers’ warranties. 
  • New homes usually are well-insulated due to better windows, more efficient heating and cooling equipment, and greater use of insulation. 
  • The homes often are made with materials requiring less maintenance, such as aluminum siding, vinyl windows and pressure-treated wood decks that resist rot and insects. 
  • They’re easier to customize than resale homes because you can work with the builder to choose many details upfront—from floor plans and paint colors to faucets and light fixtures. 

Resale

  • Resale homes may provide more opportunities for home improvements. 
  • They typically have more land than newer properties as a result of changes in land-use patterns. 
  • The homes often are in older, more convenient metro areas rather than in outlying suburbs. 
  • You can use the existing home as a base for building a unique property through modernization or expansion. 
  • Resales tend to be less expensive than new properties and are more likely to come complete with items that may cost extra with a new home, such as blinds, landscaping, built-ins, etc. 
  • Depending on the state, resale homes may have lower property tax rates. 
  • These homes often have more traditional layouts, which may include such areas as formal living and dining rooms. 
  • Buyers most likely can purchase a larger home for the same money with a resale than with new construction. 
  • Buyers often have more room for negotiating the price or terms of sale than with new homes.

Whether you opt for new or resale, moving is an exciting journey! Are you ready to begin your home search?

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