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New Construction vs Existing Home

When looking for a new home the thought may cross your mind in which you ask yourself, "What about building a new house?"
 
Good news is your real estate agent is knowledgeable about new home construction and can help you to understand the differences of having a home built vs buying an already constructed home.
Some considerations with regard to new vs old homes are
 
  • New home construction may have a higher cost per square foot over an existing home
  • New home construction allows you to control a lot of the choices with how the house is designed from cabinetry and flooring to landscaping and decks.
  • An established home may be ready to occupy much sooner than new construction. Since the home is already built, it's unlikely there will be construction delays that might arise with new construction
  • Existing homes offer a greater chance for instant equity through a little remodeling and updating which is lacking in many older homes.
  • New construction often features the latest in energy efficient systems, windows, insulation and other features popular in new homes of today such as larger kitchens, number of bathrooms, and more closet space.
You can begin to see the battle taking shape and it's not an easy decision as both new and old homes have their distinct advantages. It really will come down to personal preference and your needs. With new construction one thing is sure...the time line to actually moving into the home is extended as the home needs to be built and can run into delays along the way which could cause you financial hardships or serious inconvenience. With proper planning however, new homes offer a special feeling all their own as you get to be a part of many of the home's design decisions which vary from builder to builder. 
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