New vs Resale Homes

Resale home or a brand new home? While searching for a new home can be difficult, I’m here to help you understand the pros and cons to consider.

Are you finding yourself categorizing your options into new or resale homes?

Resale homes typically offer a larger lot that is a bit more spread out, mature landscaping to shade the house, upgrades over time, and maybe an existing pool in an established neighborhood that is probably closer to the freeway access and shopping centers, but could have a “choppier” floorplan.

Brand new home build is a clean slate. New homes have energy efficient features so that means lower energy bills, super clean start and you are able to make it your own by adding backsplash or light fixtures. Typically you need to landscape the backyard, buy window coverings and buy a new fridge, washer & dryer. 

Pros of a Newly Built Home

New homes have many advantages like peace of mind knowing you’re the first homeowner to live at the property and first one to sit on the toilet seat, ha ha. In some cases you are able to choose your options so it can design your dream home so you will not have to update for years to come. The major components on the homes are brand new with warranties. I always have my buyers do a home inspection even on brand new homes, there are things that still come up and then you are able to be sure it’s taken care of before you move in and especially during the 1st year for warranty.  

Customization

When you purchase an already existing home, the floorplan you see is exactly what you get. However, with new construction homes, you have the flexibility and opportunity to make the decisions. You choose everything from finishes to flooring. Building your own home means you have many ways to customize the property. Working one-on-one with a builder often gives you control in every aspect. If you’re working with a builder who is developing a community, your control might be narrowed down to finishes, carpet colors, and flooring. The opportunities offered for customization are endless when buying a new construction home. But the best deals right now are “quick move in” homes where the last buyer picked out the options and the house was built and then the buyer was not able to preform.

No Repairs Needed

Being newly built means not having to worry about making major repairs immediately. New homes require less maintenance compared to existing homes. You are also less likely to plan major renovations or drastic changes to the layout and/or features for many years. Everything is brand new and in peak condition with a new construction home. Because newer homes have the latest safety and building codes, it is likely to cost you less to insure the house.

New Systems and Warranties

A new home means new paint, flooring, heating, cooling systems, and appliances. This means fewer hiccups with your home’s plumbing, roof, and other infrastructure. The latest energy-efficient materials and appliances are built into new construction homes. Resulting in saving you money on energy bills. Although you may have these new features, home warranty is still a must. Any issues or defects in the first few years are covered by the builder. Notably, you can purchase warranties for older homes, too. Home warranties are there to supplement home insurance policies by covering your home’s internal systems and major appliances. Just to give your home an extra layer of protection.

Modern Finishes

Today, buyers are seeking more modern layouts in their homes. New construction homes already come with modern features like smart home technology, open floor plans, and energy-efficient windows. New homes often include office spaces, functional yards, and upgraded kitchens and bathrooms.

Cons of Buying a New Construction Home

A New Neighborhood

New developments are often built in underdeveloped areas of a city. This means there are likely fewer amenities nearby—think grocery stores, shops, and gas stations. Although, it could be great to get in on the ground level of a new neighborhood. If you are reluctant to travel for these necessities, you might consider shopping for a home in a more established area. New construction is a ‘safe’ bet because many homes are being built which holds its value. It is also a good indicator of the area’s health and potential growth.

Varied Levels of Workmanship

Make sure to do your homework before buying a new home. Contact The Lauren Paris Group right away for free buyer representation. We know what the current incentives are that the builder is doing and we have relationships with them so they share with me what the latest deals are. You want a realtor in your corner as the sales agents at the new home tract work for the builder so you need your own free representation the very first time you go to new home tract, so that I can register you as my client.

A new home is only as good as its builder. Construction quality can vary depending on the builder, so buyers should research their builder’s track record and reputation and I can share with you my experiences. You should ALWAYS do a home inspection even on brand new homes. This is a HUGE investment, do your research!

If you need assistance in this matter, reach out to an experienced real estate agent, like me. Call me at 702-768-8940 or email me at LP@LaurenParis.com.

Moving Delays

While buying a home is lengthy, but timing your move-out and move-in dates can be difficult. Delays and additional expenses can be a result of incomplete work or design flaws. These delays are common in new build schedules. However, in the current market conditions they are standing on inventory so there should not be delays unless you are starting from scratch. Keep in mind that securing temporary housing may be needed should the project fall behind.

Deciding Between New or Resale

When purchasing a new home or resale home it is crucial to consider all the factors. Budget, financing options, and the level of involvement you want in the construction process are all important. New homes offer customization options and various ways to save money on future repairs and maintenance. Older homes have proven durability and exist in already-established neighborhoods. Location, community amenities, and resale value are also factors to consider when making your decision. *Information found on bhg.com

I am here to help you weigh out all these factors so that you can make the best decision for your lifestyle and budget.