Resale vs. New Construction: Which is better for you?

Congratulations to you if you have decided to buy a home for your family. Are you going to buy an older, existing home or you feel tempted by new construction? This is a dilemma faced by many home buyers and they find themselves torn apart as they cannot decide which home is better for them. Finding answers to questions in your mind will make it easier for you to decide in favor of a home that is better for your needs and requirements.

 

Pros of a resale house

  • When house hunting and comparing different homes, you can see the actual home you are buying vs a floor plan that you have to envision.
  • Resale homes are mostly in neighborhoods that are already established. Nice trees and no construction noise every morning.
  • You can find out who your neighbors are when buying a resale home. Knock on their door and introduce yourself. You’ll learn a lot about the neighborhood.
  • If you do not have time to wait for construction to be completed, buying a resale home is a good option. There is little wait time to close.

 

Cons of a resale home

  • Resale homes may be in need of some TLC or deferred maintenance, some of which is not visible.
  • Older homes may not have all the energy efficient features of a new home.

 

Pros of new construction

  • You can customize and ask the builder to add or delete features according to your likes.
  • New construction proves to be cheaper in terms of price per sq ft.
  • New construction has the latest design features and modern architecture.
  • New construction is more energy efficient than resale homes.
  • You don’t have worries about repairs as everything is new and usually under a warranty.

 

Cons of new construction

  • New construction is often in areas away from the developed and established areas of the city.
  • The neighborhood may be new and you’ll have no idea of your neighbors.
  • You must rely on the promises made by the builder about the quality of materials used for construction.
  • Build times vary and you may have to wait for some time before you can move in.

 

Enjoy house hunting!!