Finding your dream home is such a rewarding and exciting experience. When searching for your home, it’s key to find which type of property–be it a new construction or a resale home–will best meet your personal needs. Outlining the main differences and advantages to each helps keep your search better focused, less stressful, and is overall more time-saving, whether it’s your first time purchasing a new home or you have moved multiple times. Keeping an open mind and an open heart in the process as your buying journey begins will inevitably help guide you and your family to your perfect home.
Why consider a newly constructed home? There are many benefits to buying brand new. For one, there is the essential advantage of being the first-time owners of a home. New appliances, new materials–everything, in and out, is brand new. In turn, there is potentially less likeliness for maintenance issues with your new construction. Getting to customize and finely detail the layout of your home is valuable in achieving your perfect home. With each added personal touch, you are closer to truly finding your dream home since you hold the blueprints to its design. Yet another advantage of a new construction home is that new homes are “greener” homes–they have more efficient heating/cooling, better insulation, and new windows. And on that note, a new model home is to code with safety measures and features as well as being equipped with the latest technology. With new homes, most builders offer warranties, often two years out from construction, on the home which is a priceless component of homebuying.
What are the pros of purchasing a resale home? It is reassuring to buy a home in a neighborhood that has already been established, lending confidence that the property will maintain and retain its value. The appeal of lots of character and charm found in already constructed homes helps buyers envision themselves in that, oftentimes bigger, property. Perhaps the location of the resale home is a major advantage as older homes tend to be closer to metro/ convenient areas and be in well-established school systems. With the base of the home being already constructed and the surrounding lawns mature throughout the neighborhood, buyers can take advantage of “seeing” themselves in these resales, making the homebuying decision less overwhelming.
On the flip side, it’s equally as prudent to consider the drawbacks or cons for both property types. Even though both offer strong advantages, familiarizing yourself with the potential disadvantages will help keep you grounded in finding the home that best for you. Like the saying goes that “the good things in life take time,” so too is it applicable with possible time delays and setbacks during new construction. Hidden costs and deviations from the original price of your new home are also drawbacks to consider. Similarly, when purchasing a resale home, unforeseen costs could arise and add up in the renovating, replacing, and/or updating of the home. Nevertheless, to keep the joy and excitement of homebuying, it’s extremely valuable to consider the fundamental differences of both new construction homes and resale properties. Both offer relevant and unique advantage and potential disadvantage points that will ultimately help guide you in your journey. Whether you decide on the silvery, new home in an up and coming subdivision or the golden, classic home in an already established neighborhood, keeping your mind keenly aware of the pros and cons of each kind will better steer you to the home of your dreams