Help Buyers Decide: New vs. Existing

© 1131381461 - Building Slows

New-home Construction

Pros:

• Modern floor plan (open space, flex rooms, larger windows)
• Delayed major maintenance costs (such as roof or HVAC)
• Lower utility bills as a result of stricter building codes and newer energy-efficient products
• More upfront personalization
• Builder warranties on materials, workmanship, and structural items

Cons:

• Higher upfront costs
• Special financing, such as construction loans, often needed
• Longer wait times
• Often farther from amenities, jobs
• Sparse landscaping

Existing-home Construction

Pros:

• Lower-priced options available
• Established neighborhoods
• Mature landscaping
• Move-in ready
• Value add-on potential with remodels and cosmetic updates

Cons:

• Outdated floor plans
• More repairs and maintenance
• Higher utility bills if products and materials are less energy-efficient
• Less personalized
• Competition from other buyers