New Construction vs. Resale Homes: Which Choice is Right for You?

It’s easy to feel torn between buying an existing home or building a new one. The idea of designing your dream home that has been customized to your individual needs and wants has a strong appeal, but it also has some disadvantages that don’t come with buying an existing property. Everything from the cost to the timeline will change with every decision you make.

Pros and Cons of New Construction Homes

Some of the benefits of building a home include the following:

• Modern and customizable floor plans — You will be able to work with the contractor to create a custom layout that works for your lifestyle.
• More personalized finishes — You might be able to upgrade the finishes of an existing home, but it would be easier to add those personal touches to a new construction.
• Improved energy efficiency — Newer appliances and home systems are more energy efficient. The same is also true with new insulation and windows. All of this will result in lower utility bills.
• Smart technology options — Being able to use “smart” technology options will allow you to automate internet, cable, speakers, and even alarm systems.
• Improved indoor air quality — Newer homes will typically use paints and building materials with less or no volatile organic compounds (VOC’s), which will improve indoor air quality.
• Less maintenance requirements — A home that has been newly built will require less maintenance, because everything from the appliances to the HVAC system and roof will be brand new.
• Access to builder warranties — a lot of newly built homes have warranties that protect many parts of the property before you need to do any major repairs.
• Access to new home communities — Buying a new construction home also includes buying a lifestyle. Master or planned communities often include certain amenities (such as parks, pools, and community spaces) that are close to schools and transit locations.

Aside from all the benefits of building a home, it does come with some drawbacks. The upfront cost could be higher, and you may have a longer commute if you travel to work. Because you’ll be in a developing community, you won’t have access to mature landscaping (which can take years to grow).

Pros and Cons of Buying an Existing Home

Some of the advantages of buying an existing home include the following:

• It will be move-in ready — You’re less likely to encounter anything that will push back the day that you can move in after you close. So unless you’re buying a fixer-upper or plan to do some extensive remodeling, you’ll be able to move in as soon as you get the keys.
• You’ll be in an established neighborhood — One of the advantages of being in an established neighborhood is the maturity of the trees and landscaping (not just in the streets and parks but in your neighbors’ yards).
• Access to lower-priced options — According to Zillow, the average sale price of an existing home in the U. S. was $354,000 in the fall of 2021 (compared to $400,000 for a brand-new home). An existing home will usually be less expensive than a new construction.
• More choices with regard to location — Most new detached single-family homes are built outside of urban areas, so buying an existing home will give you a lot more options when it comes to where you live.
• Less decisions to make — Building a home will require you to make more decisions. This includes everything from the floor plan to the interior design and finishes. An existing home will allow you to focus more on the areas that need fixing up or what you want to customize according to your style.

Despite their benefits, existing homes come with their disadvantages. Unless the floor plans have been remodeled, you’re less likely to find a modern floor plan. It will also have outdated technology and fixtures. Some may even have knobs and tube wiring that date back to the first half of the 20th century. While it may be possible to upgrade the wiring and install smart technology to replace the old thermostats and lighting, it costs more to redo something than it would be to install it while the home is being built.

The insulation on older homes may not be as good, and they often rely on polluting resources (such as gas and oil) for heat. So, they’re not as energy efficient as new construction homes. There will also be more potential for extensive repairs and maintenance. Roofing and heating systems can also have you spending more money where you don’t expect to.

If you’re looking for one of the best custom home builders in Corpus Christi, be sure to reach out to Devonshire Custom Homes.