After many years of being a Real Estate Consultant I have been asked many questions and find that involved in every transaction is a learning experience. Whether you purchase a new construction or a resale property both have their own set of benefits and negatives. I present to you various plus and cons.
Benefits of purchasing a New Construction Home is for the buyer to have the choice of customizing various aspects of the property including finishes, some landscaping, and in some cases adding a loft or additional room. New construction can include modern amenities such as energy efficient appliances, smart home technology and advanced security systems. New construction comes with a Builder Warranty though I have to say the ones I have been involved with did not have “quick” customer service. I suggest making good friends with that department as this can really help.
Drawbacks of New Construction is that builders have to factor in the cost of the construction costs, land, labor, issues that resale does not have to factor into the price. Many neighborhoods set prices as much as the individual home. Many new constructions are not located in the buyers preferred neighborhood with developed amenities such as schools, shopping, parks etc. Also new construction can have limited landscaping and the individual home buyer is responsible for their own yards.
Drawbacks of Resasle Property is the potential for maintenance issues. Older homes may require more repairs and upgrades compared to new construction. Additional resale properties offer limited customization options, as buyers have to work with the existing layouts, finishes and design. However, I have found that if possible removing a wall (not a bearing one) can expand a space immediately. Also, existing homes in many neighborhoods offer more privacy as new construction can literally have smaller lots looking into neighbor’s yard.
Conclusion when deciding between new construction and resale is to weigh the drawbacks. New construction can have potential delays and limited home location options. On the other hand resale homes provide established neighborhoods, mature landscaping and negotiation opportunities. Ultimately buyers should assess their preferences, budget, and future plans to make an informed choice that aligns with their special needs.
