When the time comes to move into your next home, you’re going to be faced with an important decision: Will you buy your new home, or will you build one?
Many buyers ask me which of these options is more expensive, and the truth is that it depends. There are a few key differences that will almost always come into play, though. The first is that you will have to pay more money up front when buying new construction than when buying a resale home.
On the flip side, older homes tend to require more maintenance, so you may find yourself paying for more repair projects if you opt for a resale property. This isn’t to say issues can’t arise in a new construction home after closing, but most problems in the first year will be covered by the builder’s warranty.
It’s also important to note that newer homes, including resale properties built after 2000, are approximately 21% more energy efficient than older properties. So, newer homes do tend to carry lower energy bills, overall.
When all is said and done, though, it’s typically more expensive to buy new construction. But don’t let this deter you if you had your heart set on building your next home. There are plenty of affordable new construction and resale options available.
Whatever your goals are, my team and I would be happy to help you achieve them. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.