Building a New Home vs. Buying a Home: What to Consider
April 11, 2020, Author: Karen Stanley
When it comes to purchasing a home, there is a big question of building a new home vs. buying a home.
Here’s a list of 10 things to consider when making that decision:
Design: A new home is 100% you. You get to choose all the finishes from the carpet to the faucets, and the design is what you imagined because you put the pieces together yourself. Sounds overwhelming? Our design center specialists help guide you through the process and provide suggestions to help you the whole way. A pre-owned home already has all the design choices made, and you take it over as is.
Visualizing: Buying a home means you get to walk through and see exactly what it is like. Building a home, on the other hand, requires exploring the models and the design center to envision what your new home will look like when it is completed.
Time: When building a home, you create a timeline. However, for those needing a new home right away, there might not be time to build. It’s important to consider what your family will do in the meantime as you are building your home. Another option is to check out our quick move-ins that have been beautifully designed and can be ready more quickly for you and your family.
Appliances: This can be a major influencer in building a new home vs. buying a home. When you build a new home, you can know that all of your appliances are the most efficient. This means they are keeping your water, gas, and electric expenses as low as possible.
Carpet: Carpet can be replaced in any home. The important thing to decide is if you want a fresh start with the least allergens, or if you are planning on purchasing a home and then replacing the carpet down the road. Many of our flooring options have warranties when purchased new.
Landscaping: Depending on your lifestyle, you may want to add pavers or a patio. Look at what each home comes with and if you would have to change anything on a purchased house. At the same time, see if the home builder covers what you are looking for, or if it could be added.
Neighborhood: Do you want to buy a home in an established neighborhood? Or would you like to be a part of something new with your neighbors? Building a home gives you and your neighbors a fresh start. On the other hand, buying a previously-owned home puts you right into an established neighborhood.
Resale Value: Is this a home you are retiring to? Or is it the next step for your growing family? Generally, new homes have great resale value. Meanwhile, no updates are needed if you find yourself selling within the next few years. On the other hand, when you purchase a pre-owned home, you already know its current resale value because you purchased it. If you do move from your home, remember you may need to update things to keep its value since it isn’t likely everything was brand new when you moved in.
Home Projects: Are you a fan of home projects? And love the thrill of improving things step by step? Or are you a fan of focusing on designing your home. If you love remodeling and improving a property yourself, purchasing a pre-owned home is perfect for you! Or maybe you have always wanted to hand-pick the design elements of your home without having the overhaul, or the time investment. If that is the case, a new home would be a great option for you and your family.
A Final Note:
Owning a home is an exciting achievement, whether you are moving into a pre-owned home or designing and building a new home. Explore our new home floorplans, and take a virtual tour of our models at New Village Homes, as you decide where you and your family will call home.