New Build vs. Resale: Which Home is Right for You?
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Are you considering whether to build your dream home or buy an existing one? In this episode, we explore the pros and cons of each option to help you make an informed decision.
Are you considering whether to build your dream home or buy an existing one? In this episode, we explore the pros and cons of each option to help you make an informed decision.
Key Points:
- Immediate Move-In vs. Construction Timeline:
- Buying an existing home allows you to move in quickly, typically within a month after closing.
- Building a new home can take 8–10 months or longer due to permits and approvals.
- Cost Comparison:
- New home construction averages $200–$250+ per square foot, excluding land and permits.
- Total costs for a 2,000 sq. ft. home can reach $600,000–$700,000.
- Resale homes may be more affordable in most markets.
- Maintenance and Efficiency:
- New homes have no immediate repair needs and benefit from modern energy-efficient standards.
- Resale homes, even in good condition, may require maintenance sooner due to aging systems like roofs or septic.
- Customization Options:
- New homes offer complete customization of layout, finishes, and colors.
- Resale homes may not meet all your design preferences but are move-in ready.
- Depreciation Considerations:
- New homes may depreciate over time due to wear and changing market preferences.
- Resale homes can offer a balance of affordability and market appreciation.
- Market Inventory and Timing:
- Limited inventory in your area may influence your decision.
- If finding the perfect home takes 6–8 months, building might be a better option for personalized results.
- Challenges of Building a Home:
- Dealing with contractors, delays, and unexpected costs can be stressful.
- Supply chain issues, permit delays, and unforeseen damages are common obstacles.
- Advantages of Building:
- Fully customized design to suit your lifestyle and preferences.
- Move-in ready with no prior owners.
Whether you value convenience, customization, or cost-efficiency, this episode breaks down everything you need to consider before making your decision.
Tune in now to weigh your options and find the best path to your next home!
