• English
  • Español
AGENTS: Did you know you can share a personalized version of this post? Learn more!
, , , ,

Should You Buy an Existing Home or New Construction?

Should You Buy an Existing Home or New Construction?

Finding the right home to purchase today is one of the biggest challenges for potential buyers. With so few homes for sale and construction of newly built homes ramping up, you may be wondering if you should consider new construction in your search process. It’s a great question to ask, and one to look at from the pros and cons of what it means to buy a new home versus an existing one. Here are a few things to consider when making the best decision for your family.

New Construction  

When buying a new home, you can often choose more energy-efficient options. New appliances, new windows, a new roof, etc. These can all help lower your energy costs, which can add up to significant savings over time. With programs like ENERGY STAR, your home also helps protect the environment and reduces your carbon footprint.

Lower maintenance that comes with a newer home is another great benefit. When you have a new home, you likely won’t have as many little repairs to tackle, like leaky faucets, shutters to paint, and other odd jobs around the house. With new construction, you’ll also have warranty options that may cover portions of your investment for the first few years.

Another solid benefit to new construction is customization. Do you want a mudroom, stainless steel appliances, granite countertops, hardwood floors, an office, or a multipurpose room to homeschool your children? These items can be customized to your specific needs during the design phase. With an existing home, you’re buying something that’s already completed, so if you want to make changes, you may need to hire a contractor to help get your home ready for your family.

Existing Home

When buying an existing home, you can negotiate with the current homeowner on price, which is something you generally don’t get to do with a builder. Builders know their material and construction costs, and they have a price set for the model you’re buying. So, if you want to negotiate, then maybe an existing home will be best.

For many families, having an established neighborhood is also important. Some buyers like to know the neighbors, if it’s family-friendly, and traffic patterns before making a commitment. When you buy new construction, you won’t have a full view of some of those details until the lots around you are sold.

Finally, timing comes into play. With an existing home, you can move in based on the timeline you agree to with the sellers. With new construction, you need to wait for the house to be built. Depending on the time of the year you’re buying and the region you’re in, the weather can also be a factor in the timeframe. This is something really important to keep in mind, especially if you need to move sooner rather than later. Over the past few months with COVID-19 and social distancing regulations, some areas for new construction have been delayed.

Bottom Line

Whether you want to buy a newly built home or one that’s already established, both are great options. They each have their pros and cons, and every family will have different circumstances driving their decision. If you have questions and want to know more about the options in your area, contact a local real estate professional today so you can feel confident making a decision about your next home.


Members: Sign in now to set up your Personalized Posts & start sharing today!

Not a Member Yet? Click Here to learn more about KCM’s newest feature, Personalized Posts.

7 replies
  1. Chris Pederson
    Chris Pederson says:

    I’m glad to hear that newer homes have lower maintenance. My wife and I just want a house we can relax in for about a year or two. Hopefully, we can get a new home built so we know everything won’t break for a while.

    Reply
  2. Renovations waikato
    Renovations waikato says:

    It is a beautiful article stating about should you buy an existing home or new construction. In order to get better information and guidance can be taken from this blog specifically. It plays a vital role in taking us through. It can be really great for people like me who are looking for grabbing more knowledge about.

    Reply
  3. Builders Selwyn
    Builders Selwyn says:

    This is a really great content, I can see how detailed you have gone through and explained about should you buy an existing home or new construction. I love this article, thanks for producing such great contents. I love your posts always.

    Reply
  4. Builders Dunedin
    Builders Dunedin says:

    I loved your blog and thanks for publishing this about should you buy an existing home or new construction. I am really happy to come across this exceptionally well written content. Thanks for sharing and look for more in future!! Keep doing this inspirational work and share with us.

    Reply
  5. Builders Mt Maunganui
    Builders Mt Maunganui says:

    This is a brilliant post, thank you for sharing these great tips. I think you are right with should you buy an existing home or new construction. I am sure many people will come to read this in future.

    Reply
  6. House insulation Auckland
    House insulation Auckland says:

    Thank you for sharing about these should you buy an existing home or new construction with us, these will be really helpful to many.. I love reading this blog; it talks so much about planning a great idea about it. Keep sharing such informative articles in future, will be appreciated.

    Reply
  7. rizwa ishaq
    rizwa ishaq says:

    Your article gives the complete detail about that either should we buy the new home or existing. By keeping this information in my mind we can build a new home. Thanks for producing the informative content.

    Reply

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *