NEW HOMES VS. EXISTING HOMES
There are many items to consider when deciding whether to build a new home or purchase an existing home. The benefits of a new home include the homeowner being involved in the design process that offers the latest in energy efficiency and design. A previously owned home may need repairs, paint jobs and walls moved around to create the types of open spaces that make sense today.
With a new house, everything is new, including costly components such as the furnace, water heater, air conditioning unit, kitchen appliances, roof, doors windows and more. In a new home most of these components come with a warranty, sometimes for up to 10 years. With a resale house the equipment and structural features you buy may have been in use for a while and may be close to needing replacement. There may or may not be warranties but if there are they probably have significant limitations.
With a new home you can choose a floor plan and room layout that meets your needs. Want a master bedroom on the first floor? It’s yours. With massive his and hers walk-in closets? Done! Want high ceilings and a luxurious, resort-style master bath? It’s easy when you build your owners suite your way.
New Homes offer the latest in safety and advanced technology and design. State-of-the-art circuit breakers and electric garage door openers with infrared beams that stop if a child or animal is near help to keep your family safe. New high-efficiency furnaces and air conditioners use the latest environmentally friendly coolants. Cabinets, carpets and paints that use fewer volatile organic compounds so that you and your family can breathe easier.
Consider some of these capital improvements that may be part of the true cost to you over the early years of the purchase of an existing house:
Another factor to consider with any property is resale value. You may plan to live in your next home for many years but at some point most people sell a given home for any of a myriad of reasons. Building a new home in a master planned, architecturally controlled community with many amenities like Snug Harbor greatly improves resale value.
The decision to buy a newly built or used home is ultimately made by each home buyer. Now you know the questions to ask and the relative costs involved in order to make the best decision for you.
There are many items to consider when deciding whether to build a new home or purchase an existing home. The benefits of a new home include the homeowner being involved in the design process that offers the latest in energy efficiency and design. A previously owned home may need repairs, paint jobs and walls moved around to create the types of open spaces that make sense today.
With a new house, everything is new, including costly components such as the furnace, water heater, air conditioning unit, kitchen appliances, roof, doors windows and more. In a new home most of these components come with a warranty, sometimes for up to 10 years. With a resale house the equipment and structural features you buy may have been in use for a while and may be close to needing replacement. There may or may not be warranties but if there are they probably have significant limitations.
With a new home you can choose a floor plan and room layout that meets your needs. Want a master bedroom on the first floor? It’s yours. With massive his and hers walk-in closets? Done! Want high ceilings and a luxurious, resort-style master bath? It’s easy when you build your owners suite your way.
New Homes offer the latest in safety and advanced technology and design. State-of-the-art circuit breakers and electric garage door openers with infrared beams that stop if a child or animal is near help to keep your family safe. New high-efficiency furnaces and air conditioners use the latest environmentally friendly coolants. Cabinets, carpets and paints that use fewer volatile organic compounds so that you and your family can breathe easier.
Consider some of these capital improvements that may be part of the true cost to you over the early years of the purchase of an existing house:
- Heating and Air Conditioning: The typical furnace has a 20 year life expectancy and the typical central air system 15 years. Replacing them could cost you $4000+ for an air conditioning unit and $3700+ for the furnace.
- Flooring: You are virtually guaranteed to replace some carpeting in a resale home and you may need to upgrade other flooring or finishes. Costs can run anywhere from a few thousand dollars to well over $15,000 depending on your choices.
- Roof: The average shingled roof lasts about 25 years. Replacement costs can be anywhere from $5,000 and up.
- Exterior Painting: With a new house you get to select the color. With an existing house there is a good possibility you will want to repaint which typically costs $7,500 or more.
- Interior Painting: Again, with a new house you choose the wall colors. With an existing house you are probably going to want to repaint some of the interior.
- Kitchen: Kitchen remodels typically range from $20,000 to $40,000.
- Master Bath: Master Bath remodels typically run $15,000 or more.
Another factor to consider with any property is resale value. You may plan to live in your next home for many years but at some point most people sell a given home for any of a myriad of reasons. Building a new home in a master planned, architecturally controlled community with many amenities like Snug Harbor greatly improves resale value.
The decision to buy a newly built or used home is ultimately made by each home buyer. Now you know the questions to ask and the relative costs involved in order to make the best decision for you.