A New Home Or Resale, Which is Better?

By Amy Nutt
When deciding if you should buy a new home or resale home, you will likely hear a number of opinions about which one is better. Each home has their own positive attributes so it all comes down to individual needs. Before making a decision, you should look at the benefits of each to determine which home would be best for you and your family. The following outlines important qualities of new homes and resale homes which may help you make the decision.

New Homes
1) When purchasing a home that is to be newly constructed, there are many options you may be able to choose from that include: kitchen furnishings, type of flooring, color schemes, walk in closets, and much more.
2) New homes are constructed with new building materials so there will be less maintenance. This can include: aluminum siding, vinyl windows, and pressure-treated wood.
3) Many homebuilders will provide warranties in the event of a construction defect. For instance, if a crack in a wall develops, or the roof begins to leak, they will cover the costs of repair.
4) New homes will not contain toxic substances such as lead paint.
5) The appliances are new so they will be under a manufacturer warranty. They are also much more energy efficient.
6) New homes are built to accommodate the newest safety systems such as burglar alarms and surveillance cameras.
7) New homes are usually wired for the newest technology such as multiple phone lines, high-speed internet connections, and extra cable outlets
8) They are constructed using materials that contain fewer health risks so they will meet current health codes.
9) New homes are more energy efficient. They have better windows, insulation, and more efficient heating and cooling systems.
10) The design is more modern. They may have more bathrooms, bigger bedrooms, and much more.
11) Everything in a new home is clean and undamaged.

Resale Homes
1) Because the homes are older, they are more likely to be located near metro areas.
2) For people who enjoy renovating and making improvements, resale homes are a good choice.
3) If you are looking for a large piece of property, you will likely find it with a resale home.
4) A resale home is usually cheaper than a new home. Depending on the state, resale homes may have lower property tax rates.
5) They are not usually a part of a new development community so you will not have to pay new development fees for such things as for schools, parks, and road maintenance.
6) If you like traditional designs and layouts, resale homes are a good choice.
7) Buyers are often able to negotiate a lower price with a resale home.
8) The landscape is usually more natural and contains trees that are full grown. Most backyards are bigger and more private.
9) Resale homes are usually located in established neighborhoods. They will usually already have existing roads, amenities, parks, and schools.
10) Taxes and closing costs may differ between new and resale homes. For instance, sales tax is payable on new homes, while it is usually included in a resale home purchase.

As you can see from the above lists, there are many advantages to owning either a new home or resale home. The key is to make a list of what you are looking for in a home and what you plan to do with it in the future. Because buying home is a major life investment, it is important to consider both the pros and cons of both types of homes before making the final decision.