Buying a Resale vs a New Construction Home

Oct 20, 2015

New construction home Every potential homeowner has to make the decision when entering the market whether to purchase a new construction or a resale home. There are advantages to resale homes as well as new construction. Before making a decision, you should weigh the pros and cons of each real estate option.

The Benefits of New Home Construction

When you buy a new home, you do not have to peel off old wallpaper or paint the walls a new color. The home will be waiting for you to decorate it with your own personal design style. You can specify the colors of your fixtures and cabinets. The construction crew will make sure everything is perfect for you. The home is likely to have an open floor plan. If the neighborhood is new, the crime rate will usually be low. Most new homes are located in areas close to schools and parks. When you purchase a new home, you know the home has met the government’s new home construction safety regulations for asbestos and lead poisoning.

The Benefits of Resale Homes

Homes in established neighborhoods often have higher property values. The previous owners might have added many upgrades to the home, and many older homes are made from sturdier materials. Homeowners who need to sell their home immediately are likely to lower the asking price. Most older homes are surrounded by large trees. When you move into a neighborhood with new construction, you will not know who your neighbors will be until all the homes are occupied. Purchasing real estate in an established neighborhood allows you to meet all your neighbors immediately.

Ultimately, the location of the home should be an important factor. The value of the surrounding homes will raise or lower your property value. New homes are usually in safer areas, but homes in established neighborhoods usually have a neighborhood watch program set up for homeowners.